This is a remarkably disheartening piece by Larry Kudlow writing at The Corner. You must read the whole thing to get the full import of his thoughts on "Bailout Nation" - where TARP II is actually a second federal budget and will be used to basically nationalize the big banks (which means the whole banking system).But more than this, it is the skewed vision of the president and his advisors about what a free market actually is and how they seem unable to separate politics from policy:What is going on in this country? The government is about to take over GM in a plan that completely screws private bondholders and favors the unions. Get this: The GM bondholders own $27 billion and they're getting 10 percent of the common stock in an expected exchange. And the UAW owns $10 billion of the bonds and they're getting 40 percent of the stock. Huh? Did I miss something here? And Uncle Sam will have a controlling share of the stock with something close to 50 percent ownership. And no...(Read Full Post)