Monday, December 10, 2007

Paul explains the Magicians act

The magus being Henry Paulson and the act is the Bushovik mortgage relief plan, designed to look great and function like every other non political plan these people ever had, badly.
But Mr. Paulson’s actions reflect the priorities of the administration he serves. And that, ultimately, is what’s wrong with the mortgage relief plan he unveiled last week.

The plan is, as a Times editorial put it yesterday, “too little, too late and too voluntary.” But from the administration’s point of view these failings aren’t bugs, they’re features.

In fact, there’s a growing consensus among financial observers that the Paulson plan isn’t mainly intended to achieve real results. The point is, instead, to create the appearance of action, thereby undercutting political support for actual attempts to help families in trouble.
Did anybody really expect the Bushoviks to do anything that would really help people? Can you say Katrina?

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