Hank Paulson, Naked Emperor

Treasury Secretary Hank Paulson finally confirmed what bailout opponents tried to tell people: he doesn’t know what the hell he’s doing.

Paulson explained at his non-mea culpa press conference that he knew when the bailout was signed that it wasn’t going to work as sold: “It was clear to me by the time the bill was signed on October 3 that we needed to act quickly and forcefully, and that purchasing troubled assets – our initial focus – would take time to implement and would not be sufficient given the severity of the problem.” Source: Hank Paulson, Naked Emperor | National Review