TARP

You should thank God [for bank bailouts]. Now, if you talk about bailouts for everybody else, there comes a place where if you just start bailing out all the individuals instead of telling them to adapt, the culture dies. There’s danger in just shoveling out money to people who say, ‘My life is a little harder than it used to be,’ […] At a certain place you’ve got to say to [those] people, ‘Suck it in and cope, buddy. Suck it in and cope.’
—  Charles Munger, billionaire vice chairman of Berkshire Hathaway Inc., in a discussion at the University of Michigan on Sept. 14.

Would be breathtaking if the view weren’t so pervasive. The rest are just smart enough not to say it. We can all rest easy in the knowledge that Charlie will never, ever have to suck it up and cope about anything. Such a thing just wouldn’t be moral.