Sunday, January 25, 2009

The Reign of Mouch

"Nobody professed to understand the question of the frozen railroad bonds; perhaps, because everybody understood it too well. At first, there had been signs of panic among the bondholders and of a dangerous indignation among the public. Then, Wesley Mouch had issued another directive, which ruled that people could get their bonds 'defrozen' upon plea of 'essential need': the government would purchase the bonds, if it found the proof of the need satisfactory. There were three questions that no one answered or asked: 'what constituted proof?' 'What constituted need?' 'Essential-- to whom?'"--Ayn Rand, Atlas Shrugged

I first read that passage 11 years ago. I never thought I'd see it become US policy for two administrations.

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