Paul Krugman explained on Olberman's show last night that Congress (including a lot of Republicans) are well-advised not to blindly rubber-stamp Paulson's trillion-dollar bail-out of the Wall Street mess.
Buried deep in Paulson's hastily crafted plan is, Krugman said, Section 8.
What does Section 8 do?
Krugman says it grants Paulson unlimited authority to do whatever he wants with the trillion bucks. ALSO, it insulates him from ever having to answer -- in court or elsewhere -- for his handouts to the Wall Street mob that got us into this bind.
Krugman says it's just like Cheney's trickery that snookered Congress into attacking Iraq -- don't worry about the details; we'll handle that. Anyone who dared ask questions was branded as an enemy of the people.
Paulson's crafty Section 8 probably also reminds Congress of how they were stampeded into approving -- without question -- the USA PATRIOT Act, which, it turns out, evaporated the American people's protections from the predatory Bush regime. Remember: anyone who bothered to ask a single question about THAT one also was branded a traitorous terrorist sympathizer.
Now, the Bushies are branding anyone who asks a single question about Paulson's plan a threat to the nation's existence.
Maybe, just maybe, Congress learned a tiny lesson from getting burned so badly on the WMDs and the PATRIOT Act.
UPDATE: Here's the video
from Olberman last night. Krugman comes in around 2:45, but watch the whole thing for some delicious flip-flopping by McCain on the Section 8 controversy