Notes on a "Dictatorial" Bailout Plan

Paul Krugman of the New York Times shares his view of Henry Paulson's $700 billion, tax-payer funded bailout plan for Wall Street, including (n his mind) the four steps that lead to the meltdown and other disturbing details, including this dusty gem:

...Mr. Paulson insists that he wants a “clean” plan. “Clean,” in this context, means a taxpayer-financed bailout with no strings attached — no quid pro quo on the part of those being bailed out. Why is that a good thing? Add to this the fact that Mr. Paulson is also demanding dictatorial authority, plus immunity from review “by any court of law or any administrative agency,” and this adds up to an unacceptable proposal.

Wow, Bush's presidency comes to an end with a humiliating bang and his administration STILL wants to be given total control of something they helped to destroy! Classic!