John Hussman's great advice

Hussman has a very nice explanation of the current financial bailout situation--and how it can be improved. John's main point is that the American taxpayer should not be taking the losses for bad investment decisions (duh), but rather, the equity and bondholders of failed institutions should be eating the losses. My guess is there are lobbyists or special interest groups having an influence on policy (likely groups with large holdings or stakes in financial institution debt and/or equity that is likely to go bust...or in other words, all the HUGE banks who keep having personal meetings with Obama and his staff). These large banking organizations are single-handedly destroying incentives and risk/reward, which is effectively destroying the benefits of capitalism...way to go guys...I'm sure all the solvent banks, who did things right at their institutions are real happy to see their loser competition get stronger via government intervention...
http://hussmanfunds.com/wmc/wmc090330.htm