Holy crap.

[nonelvis]

It's not like I have any faith at all in the current administration, but this is just astonishing:

In fact, some of the most basic details [of the Wall Street bailout plan], including the $700 billion figure Treasury would use to buy up bad debt, are fuzzy.

"It's not based on any particular data point," a Treasury spokeswoman told Forbes.com Tuesday. "We just wanted to choose a really large number."

Apparently there is no one in the entire U.S. Treasury Department qualified to even make a guess at how much this bailout could cost. After all, it's not like anyone over there is responsible for "[Serving] the American people and strengthen[ing] national security by managing the U.S. Government's finances effectively, promoting economic growth and stability, and ensuring the safety, soundness, and security of the U.S. and international financial systems."

We are so screwed.

Comments

[profrobert.livejournal.com]

He also signed the repeal of Glass-Steagall, which is really what started the financial bender, which has now turned into the mother of all hangovers. So, yes, while he's not a mushmouthed imbecile like Bush, he also wasn't George Washington, Abraham Lincoln or FDR rolled into one.

[nonelvis]

Primary Colors was on the other day, and I hadn't watched the whole thing since I first saw it in the theater. I was struck again at how perfectly the movie (and the book) capture the essence of Bill Clinton: an almost principle-free rogue who's so damned charming you just can't help but love him.

I knew he was responsible for the Glass-Steagall repeal, but the Republicans aren't exactly covered with glory here, either. They've had control for nearly the past eight years, and they've done everything they can to help big business at the expense of the little guy.

[kalleah.livejournal.com]

I don't disagree that Clinton had/has serious issues -- I'm not forgetting that the DMCA came in under his watch, for one! -- but I just look at our political scene and want him back.

In hindsight, all that Wag the Dog stuff looks a little silly.