How true.
Plug in a weak, lame duck president with heavy duty connections to the finance business and an almost complete disdain for voters. Give him a chance to get even for being steamrollered on the Shamnesty bill and you got the makings of a disaster.
I don't think that's Bush's problem. His "connections" are trumped by his personal feelings of grandiosity.
I think the dems send him fake letters from "citizens" making heart wrenching pleas to save them (I had two friends who wrote these kinds of letters for dem politicians - so I assume they would also send these kind of letters to Bush -- - and Bush thinks he's stepping in as hero. It's how he started his speech last night. It's silly.
This bailout isn't going to give struggling people their homes. Far from it. As soon as the bailout goes through, the squatters/pawns/suckers (who were sold more house than they could afford) - who haven't made a house payment in a year or two will be foreclosed. And thrown out on the street.
This bailout is designed to help the irresponsible banks and punish the responsible banks. It's perfect to "reward" those pols who give favorable regulations. And in this case, billions of dollars to the very people who wrecked the system. Freddie, Frannie, WAMU, etc will make out like a bandits and Wells Fargo and other respoinsible banks will be hurt.
But worse yet, the bail out will push the problem down the road - a few months - to a time when we have less money and more problems.