If you want to read a justification for one of the most profound instances of political corruption in our history then this Goolsbee and Kreuger article is for you.

As an alumnus of the U of C it pains me that such a political shill as Goolsbee is on the faculty.  View the whole shameful act of prostitution here. The filthy things some will do for the praise of autocrats.

In its shredding of bankruptcy law, its overt threatening of secured creditors until they relinquished their legal rights and in the diversion of almost the entire bailout to its union cronies this criminal act will go down as the largest single instance of extralegal political corruption in history.

Of course that excludes the wholesale bailout of bank investors and managements and the massive in kind bribes that Dodd-Frank, Obamacare and the pending reregulation of telecoms represent.

And that excludes the entire criminal enterprise called "higher education". But who's counting?