If Congress passes the bailout it will be demonstrating an extraordinary belief in the power of redemption. In the past, I have noted the fact that Secretary Paulson's failure to recognize the housing bubble, and the economic and financial havoc that would be created by its inevitable collapse, contributed to the disaster we now face.
It turns out that Secretary Paulson played an even more direct role in bringing down our financial system. The New York Times has a superbly...
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