Our nominal head of state has been invisible during this latest flare-up of the financial crisis. Of course, we would expect Bernanke and Paulson to be the public face of the administration’s crisis management plans, but in theory they (especially Paulson) do have a boss. We’re talking here about the largest, most consequential domestic program in the entire GWB era. I mean, who’s the decider here?
If congressional Republicans balk at the size and cost of the bailout, will Bush have to come out of confinement to talk them into it?