The economy is not a morality play

To everyone out there - conservative, libertarian, and liberal - who looks at the economy as a morality play in which the Just are rewarded and the Wicked are punished, and who opposed the bailout bill on the grounds that a deep recession is exactly what America deserves for its profligate ways: you can all go straight to hell.

That goes double for the 133 Republicans and 95 Democrats in the House of Representatives who voted against the bill. You've played politics with people's jobs and lives, and if there were any justice in this world you'd all be out on your sorry asses after this election.

Congratulations, though, to Megan McArdle for being the only libertarian blogger I've seen who gets it right. I only agree with Megan about 50% of the time, but I give her a lot of credit for dissenting from her fellow libertarians on this.

Maybe the House will turn around and pass something; or maybe Bernanke can pull off a miracle. But if not, we're going to look back and see today as one of the most spectacular failures of democracy since the trial of Socrates.