There was an awful echo of the run-up to the Iraq invasion today in descriptions of the ways in which theWhite House planned and announced the bail-out before notifying Congress. Now, of course, Congress must authorize the scheme and ante-up the bucks after a quick session with the administration and some very scary (says Charles Schumer) scenarios of what could happen if Congress doesn't give its okay quickly, quickly. No "controversial" add-ons, says Bush. My way or highway. No delays. Now. Right away. Up to $500 billion.
I think we better back off a bit and look at the bail-out as yet another plan which resembles a set of Russian dolls -- a scheme within a plan within a scheme which has a goal which has little to do with returning to stability in the financial markets. The White House, as many have noticed, usually have a goal at 180° from their announced expectations. 
Bankrupting the government, drying up entitlements, enabling large corporations -- all these would give Bush and Cheney the legacy they want.
Nancy Pelosi described herself as "cautious" in this matter. Let's hope she goes beyond "cautious" and manages to be really, really wary. Listen for that rattle, Mrs. P.
