Treasury Secretary Henry Paulson is abandoning his plan for using the $700 billion bailout fund to buy up bad mortgage debt. The entire justification for authorizing the bailout is being replaced at Paulson’s whim. The nation has once again been duped.
Updated 11/13/2008: Three GOP Senators have sent Treasury Secretary Hank Paulson a “joint letter of concern”. The senators are Tom Coburn, Richard Burr, and David Vitter.
Updated 11/14/2008: Michelle Malkin writes Hank Paulson, naked emperor, a scathing roast.
