I was going to write a post about how absurd it is for McCain to be accusing Obama of being a socialist after he himself voted for the bank bailout and coming up with an even more ridiculous scheme to buy individual underwater mortgages, but Billmon got there first:

So providing tax cuts to moderate-income Americans while raising taxes on upper-income Americans is European-style socialism, but taking the hard-earned tax dollars of people who didn’t buy homes they couldn’t afford at ridiculously inflated prices and giving the money to people who did do that is . . . rugged free market individualism?