Friday, December 12, 2008

It's nice that President Bush and Cerberus head John Snow

are really, really good friends. Then, if Cerberus is about to lose a ton on it's Chrysler stake, the White House can use taxpayer resources to bailout a good friend:
The Bush administration is signaling its readiness to avert a collapse of the nation's auto industry, a day after efforts to forge an emergency-relief package foundered in the U.S. Senate.

White House spokeswoman Dana Perino said the administration would consider tapping the $700 billion government pool -- known as the Troubled Asset Relief Plan, or TARP -- that was created ahead of the November election to calm turmoil in financial markets.

I'm not sure who will be remembered to be a morally worse President, Bill Clinton or George W. Bush. I'm thinking the latter. Of course, only 4 Presidents have been re-elected in my lifetime, so by that measure, Jimmy Carter and George H.W. Bush are a cushion for the others.

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