NEW YORK (CNNMoney.com) -- President Bush and Treasury Secretary Henry Paulson on Friday outlined a series of far-reaching steps - likely to cost hundreds of billions of dollars - aimed at stemming a widening financial crisis that is roiling the financial markets and undermining confidence in the banking system. "We must act now to protect our nation's economic health from serious risk," Bush said at a White House press conference. "There will be ample opportunity to discuss the origins of this problems. Now is the time to solve it." "This is no time for partisanship," Bush added. "We need to move urgently needed legislation as quickly as possible without adding controversial provisions that could delay action."
Gentle Readers, do any of you believe for one single second that W knows even the slightest thing about global economics? I mean really, the slightest thing? The man probably has trouble understanding compound interest and how to balance a checkbook. I'm not being snarky here - this man can barely handle good grammar and we're supposed to believe that he's working on a comprehensive plan to shore up major financial institutions and the mortgage crisis? More likely he's enjoying a round of golf while his advisers and speech writers work up something for him to say to the press. Oh wait, I forgot, he gave up golf to show his support for the troops.
I find all of the current mess confusing and I've got about 20 IQ points on the man!