Follow this link to the Paul Krugman piece in the New York Times.

Krugman’s last sentence sums up the piece nicely:

So don’t be fooled. When Mitch McConnell denounces big bank bailouts, what he’s really trying to do is give the bankers everything they want.

As for whether or not we ought to just let banks fail, he says:

So it’s crucial to avoid disorderly bank collapses, just as it’s crucial to avoid out-of-control urban fires.