I made a lot over Congress not being able to pass anything better than the bailout bill we got. It seems that world events have conspired to push Paulson towards what looks like the favored solution of most economists (partial nationalization and recapitalization) sans Congressional sign-off. So, hurdle cleared, I guess. I didn’t see that one coming; he is a Bush administration official, after all (ambiguity completely intended).
This is pretty seriously over my head, but…good…I think.