I have just one question for the lawyers out there. Is there any precedent for charging a sitting Treasury Secretary with embezzlement of public funds?
I guess it doesn't apply in this case since the way HR 1424 was written Paulson can do pretty much as he pleases. Ironic, given how even Progressive Democrats reacted with horror at his three-page "Free me from all legal constraints" original suggestion. While the bill expanded to hundreds of pages, the essence remains the same and it's worked out just as anyone with any sanity left said it would.
Unfortunately, with Geitner coming in to the post in a few weeks - and by all accounts a virtual clone of Paulson - we're likely just to get more of the same. As Bette Davis wisely observed in All About Eve, "Buckle up. It's going to be a bumpy ride."
Still, some with a taste for sheer fantasy are more hopeful.
"This will restore liquidity in the auto market and help Americans purchase a car,” said Steve Bartlett, President and CEO of the Washington-based Financial Services Roundtable. “This, combined with the deal announced with automakers, will strengthen the entire auto market from manufacturing all the way to the consumer's driveway."Oh, how I envy the ability of some to disconnect from reality with such aplomb.