When it comes to the current financial crisis, it's become pretty clear that an appearance by President Bush doesn't calm nerves. It rubs them raw.
With global markets in a state of panic, with the world talking about the end of American capitalism, with ordinary citizens watching in despair as their savings vanish, we could all use some reassurance.
Had the president this morning announced something new, specific and verifiable, it might have helped. Most economists are persuaded that the semi-nationalization of American banks through direct infusions of capital is our best bet at this point. And the administration is reportedly working on a plan to do just that.