I guess that Matt Latimer is, in fact, not so young, but he certainly is sad. The former Bush speechwriter can’t help pissing all over his old boss, along with Sec. Treas. Paulson (definitely not a favorite), not to mention both John McCain and Sarah Palin.
Matt paints himself, quite convincingly, as a passionate believer in capitalism, but he seems even now, to be completely baffled by the market collapse that occurred in the last year of the Bush presidency. They told us everything was fine! Gee, Matt, aren’t you capitalist guys supposed to, you know, read the Wall Street Journal? Aren’t you supposed to know know about this stuff, at least a little bit?
Clueless as he is, and was, Matt obviously knew more than poor George, who got everything backassward. Secretary Paulson’s original “plan” was to buy up all the crappy mortgages on Wall Street, a plan that he immediately dropped once the enabling legislation was passed. The idea was to overpay for the worthless mortgages, so that the federal government would take the hit rather than Wall Street. Bush turned it around in his mind, making it into a “buy low, sell high” plan, and kept complaining to his speechwriters when they didn’t put that line in his speech. He didn’t discover that he didn’t understand “his” plan until after Congress passed it. Thinking about giving your cash to a Harvard MBA? Maybe think again.
