QotD: Bailing out the ethanol speculators

The federal government's ethanol policies have driven up the price of corn [. . .] But rather than reforming the policies that have caused a spike in corn prices, the federal government wants to bail out ethanol producers who speculated on the price of corn. Only the U.S. Department of Agriculture could dream up a policy like this. [. . .] The high price of corn has had a ripple effect over our entire economy. Instead of trying to bail out every industry hurt by it, the federal government needs to take a serious look at reforming our ethanol policies.

Rep. Jeff Flake, quoted by Mike Sunnucks, "Flake blasts proposed ethanol bailout", Phoenix Business Journal, 2008-10-22