Via Crooks & Liars, the Daily Kos, a story that reads like a horror movie script. A Hostess Employee Tells All About CEO Gutting Pensions, Pay Scales.

Amazingly, Washington did not offer Hostess a bailout. This discriminatory policy may be a constitutional violation — denial of equal protection of the laws. Since the onset of the financial crisis, the government has decided that some systemically important financial institutions are too big to fail. Why, any fair-minded person will ask, was Hostess not TBTF? How can the American government let an 82-year-old brand can die?

Well first, there is the apparently failed oversight “accounting error”:

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