An awful lot of informed people are looking very warily at the Paulson plan and hoping that Harry and Nancy, those wobbly Democrats, are being just as wary. The big bail-out is looking more and more like a quick, temporary fix leaving room for a real mess to blow up a couple of months from now. But Harry and Nancy are wobbling in the direction of allowing the bail-out to take place, largely unexamined.
"Bipartisan support appeared to be emerging Sunday among American lawmakers to approve quickly a vast bailout of financial institutions in the United States. The Bush administration has proposed granting unfettered authority for the Treasury Department to buy up to $700 billion in distressed mortgage-related assets from private firms as part of a program that Treasury Secretary Henry Paulson said 'has to work.'"
