Treasury: We Can Haz Do-Over?

—By Jonathan Stein

| Wed Nov. 12, 2008 7:59 AM PST

The Treasury Department will not buy any troubled assets from banks as part of the bailout, according to the Wall Street Journal, thus negating the central premise behind Secretary Paulson's original rescue plan for Wall Street. It's almost as if Paulson was unprepared for the crisis and that his three-page plan put forward to Congress wasn't particularly well thought out. Who would have expected incompetence from the Bush Administration?

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