Tar, Feathers, Paulson... some assembly required

If it were up to me, I'd take the incompetent, lying sack of breathing detritus we call our Treasury Secretary, bind him with duct tape and feed him to a horde of rabid marmosets.  After bullying the American public out of mass revolt at the $700 billion bailout scheme, groveling in front of Congress and fomenting economic panic, all of a sudden, the scheme won't be buying illiquid mortgage-related assets after all.

“Our assessment at this time is that this is not the most effective way to use TARP funds,” Mr. Paulson said, scrapping the initial conception of the $700 billion financial rescue.

By the time Congress authorized the $700 billion Troubled Asset Relief Program on Oct. 3 to purchase illiquid securities, “market conditions worsened considerably” and such action “would take time to implement and would not be sufficient given the severity of the problem,” Mr. Paulson said.

”I determined that the most timely, effective step to improve credit market conditions was to strengthen bank balance sheets quickly through direct purchases of equity in banks,” Mr. Paulson said.

Let's get this straight.  Paulson decided that by the time the bill was signed, it wasn't going to do anything, and he let them sign it anyway???

Why should anyone in the world let this buffoon run a lemonade stand, let alone the treasury of the most influential and powerful nation in the world?

Michelle Malkin has more.

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