As we are all now aware, the $700-billion bailout has become the law of the land. A lot of people are, understandably, upset about this and are pointing out the flaws of this legislation: that it is, ultimately, unfunded; that it rewards failure and penalizes success; and that it represents an increase in government's control over the economy unseen since the Great Depression.
All valid arguments, of course - and totally irrelevant: Such critiques miss the crucial point completely.