The Treasury Department Fights the FDIC … Stay Tuned!

OK this is fun. This is leadership we can believe in:
Paulson, Bair clash over aid to troubled homeowners – MarketWatch

That’s right. Sheila Bair from the FDIC and Hank Paulson from our heroic Treasury Department [aka an annex of Goldman Sachs] openly disagreed on a fundamental part of the ongoing strategy to jump start the economy. That is they had a public spat.

Bair wants to save homeowners who made stupid decisions. Paulson wants to save banks who made stupid decisions. The trouble is that Paulsen has the money and Bair doesn’t. So they argued in public.

Our beloved leader is too busy packing his books back in the White House library to intervene and impose any form of leadership. So the underlings had to go straight to the taxpayer’s representatives in Congress. As if they had any insight.

What an ugly mess.

Well we know at least one thing: somewhere along the way we taxpayers will bail out someone who was stupid. That’s a great lesson to teach our kids.