he gambled that this collapse of the investment banks would hold off until he was out of office. And he lost.Notes on the Crisis: A Few Observations Regarding These Frantic Days:
1. Watching President Bush last night, the Rude Pundit finally figured out what really happened this past week. Bush had the drawn, pale look of a man who either just found out he was sentenced to ten years in a Turkish prison or just ran out of toilet paper while having burning diarrhea or, you know, both (god, that'd suck so bad). Here's why: he gambled that this collapse of the investment banks would hold off until he was out of office. And he lost.
No, the Rude Pundit has no evidence to back that up. Except that the warning signs have been there for over a year and that they knew it was coming at some point because the plan the administration released had been in the works. But the original bailout proposal was a contingency plan. That's why it was such a bullshit document. The hope was that the Jenga pieces would tilt and teeter but stay up for another four months, and then, adios, MF-ers, enjoy the new depression.
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