Economy woes bigger than bailout package
OUR OPINION: Administration, Congress should draw line on rescue recipients
It is now clear that the administration is groping in semi-darkness for answers to the nation's cascading economic woes. The $700 billion bailout plan that once was supposed to buy up troubled assets held by Wall Street has instead become a rescue plan for banks and credit markets. With so much government money being doled out, it should come as no surprise that many troubled businesses, including the Big Three U.S. automakers, are lining up to get their ... Full Story »
Posted by Dale Penn
Most compelling line in this piece for me: "What is obvious is that the administration is making up the answers as events unfold." Seeing Paulson and Bernanke recently ask for additional bailout funds, the above sentence frighteningly rings true.