Got bubonic plague? Get more rats

NakedShorts has previously had occasion to point out that the cures currently proffered for the current attack of financial incontinence bear a striking resemblance to the underlying causes. So, welcome aboard, Jim Grant: 

Low interest rates, easy money and malleable accounting rules are what plunged Wall Street into crisis. Yet it is low interest rates, easy money and malleable accounting rules that top the list of federal fixes. The unifying theme of the new bailout bill, all 451 pages of it, is the hair of the dog that bit you. 

Bad Medicine
by James Grant
The Washington Post Oct. 5 2008

Earlier on NakedShorts

A nation of morons, led by idiots

Sep. 23 2008