PHASE THREE OF THE WAR HAS BEEN CAREFULLY PLANNED
Bush this morning, on this White House's prodigious ability to make decisions covering all the bases ...:
(paraphrase) "...these steps have been carefully planned."
Carefully planned?
The Plan sounds like something someone blurted out, after raising their hand ... soon, we'll find a power-point, with phase-three of this crisis ... unarticulated, with a Rumsfeld note, "democracy is untidy".
WHY DID PAULSON DO IT? 'WE CAN BE HEROES'
Here's the Paulson conundrum.
If the system is really in trouble - I mean seriously in trouble, like avoiding Great Depression II, then giving $20 billion to mega banks and $10 billion to investment banks is ... peanuts.
If the system needs only a little capital or no capital at all, then Paulson looks like a hero.