Paulson Inspiring Confidence Again

I think history my look unkindly at the steps the Treasury Department has made in trying to stem the losses from this massive credit deflation we are suffering through right now. Basically changing Treasury strategy midstream from buying toxic assets to bank capital infusion, while appropriate and ultimately more effective, is probably not going to inspire confidence in the American people that the US Government has any idea it knows what it is doing. If nothing else, they had no contingency plans for this type of scenario. I guess it shouldn't come as too much of a surprise in any case given the number of times they said that both the economy and the financial system were strong.