Prof. Bainbridge tries to play "reasonable conservative" so that elite liberals like Matt Yglesias will pat him on the head. Lonewacko shows him where he is wrong.
The financial crisis is being portrayed as a "free market failure" by closet Marxists like Yglesias, Krugman and DeLong, but it is anything BUT. The failures are failures of do-gooder closet Marxist legislation - including, but not limited to, race-based "affirmative action" aka "reverse racism" - of the sort that have been imposed by Democrats since Carter, and which Democrats now propose as the solution to the problem THEY CREATED.
Conservatives need to stand up for their principles, not stand up and beg for liberals to pat them on the head. As bad as the Democrat-crafted bailout bill is, it is nothing compared to what they'll do if they get the White House. And when it all unravels, they'll blame it on "free market failures." Remember the true Marxist's credo: "Marxism can never fail, it can only be failed."