Wednesday 27th of November 2024

saving malfeasance .....

saving malfeasance .....

The timing and urgency of the Bush Administration's call for action from Congress on Treasury Secretary Henry Paulson's plan to save the financial industry from collapse leaves only two possibilities.

Either the White House is criminally incompetent when it comes to the economy, or our current financial status is part of a structured crisis planned as an early October surprise. 

Both scenarios are frightening.

Moreover, they lead us to the conclusion that the Bush Administration should have no hand in trying to solve this problem.  

There's no doubt that the timing of this forced legislation is fortuitous for the Bush Administration.

The passage of this proposal could be the last act of Congress before an election.

Lawmakers don't want to look like they're politically stagnated right before their constituents head to the polls, making Congress more likely to go along with the plan.  

Incompetence or Machiavellian Planning: The Bush Administration's Culpability In The Financial Crisis

invisible ink

Although it could have been failed downloads (I tried twice), I laughed when I downloaded the draft terms of the agreement to salvage the financial markets with 700 Bn by the US Fed Government, from the website of The New York Times... 100 pages of blank pages... Quite amusing...