Bush's Homeowner's Bailout, more political theater.

[edhopper]

From Economist Barry Ritholz:

"I normally stick to mathematical analysis, preferring numbers to instinct, data to politics. But todays "news" struck me as an exquisitely timed, very clever PR stunt. Not to be cycnical, but this appears to be much more politics than policy, and a lifeline to the big investment banks on the last day the month and (some of their) fiscal years. I suspect Hank Paulson had a major hand in the timing."

The whole thing is worth reading.
http://bigpicture.typepad.com/comments/2007/08/the-grand-chara.html