- Peace Garden: King W and our economy

King W and our economy

Sunday, September 21, 2008

'Taxpayer Ripoff': Many Economists Skeptical of Bailout

Many of the same economists and opinion-makers who'd provided a bipartisan sheen of consensus to Treasury Secretary Henry Paulson's previous moves have quickly begun casting doubts on the wisdom of a policy that would allow Treasury to purchase without oversight hundreds of billions of dollars of difficult-to-price assets from financial institutions.
President Bush is “asking for a huge amount of power,” said Nouriel Roubini, an economist at New York University who was among the first to predict the crisis. “He's saying, ‘Trust me, I'm going to do it right if you give me absolute control.' This is not a monarchy.”
Here I always thought that a war would lead W to declare martial law and have Cardinal Dick declare him as King. It looks like the economic slide, helped along by W's policies and war spending, may just be a suitable replacement for the war scenario.

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