Mark Kleiman's got it right:What is — or ought to be — deeply shocking [in the current economic crisis] is the obvious irrelevance of the White House. No one is even pretending that the Decider is making any of the actual decisions. Evidently Bernanke and Paulson think they have more credibility both on the Hill and in the markets than does the President.
Personally, I'm reasonably happy to let the experts and the legislators work this one out. They can invite the Beloved Leader in for the signing ceremony. But we shouldn't soon forgive the Republican Party for sticking us with a leader who has to be pushed aside when the real money is on the table.
It really is amazing how irrelevant Bush is. He retired months ago. I don't know if Bernanke and Paulson are doing the right thing, but I'm grateful they're there. I've written before that the interns are running Washington right now. This is not true at Treasury, thank goodness.
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