Watching Bush last night was a painful experience -- its always painful to watch him because he seems like such a moron. His speech writers had done impressive work to boil the financial crisis into terms that someone with a 5th grade mentality (like Bush) might be able to understand. And I'm convinced that the consequences of not proceeding with the bailout will be catastrophic -- maybe even more catastrophic than doing it.
At the same time, I'm reminded of the sense I had early on, that the Bush administration was intentionally running the country into the ground. I get the feeling that they've known all along (not Bush, who seems way too stupid, but the malevolent people who run him) that the country was headed for a crash, so they've been trying to extract anything of value that they could before the crash happened. That explains why they haven't been bothering to try to actually run the place well: they're just trying to leverage money out of the system before the whole thing collapses. This "bailout" sure looks like a way to screw the taxpayer one last time before they leave office.
- Steven D. Brewer's blog
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