O'Neill: Bush Doesn't Get Financial Crisis, 'It Shows'

Former Treasury Secretary Paul O'Neill said today that our nation's leaders, especially President Bush, are "in a panic" and haven't thought through the $700 billion bailout plan in a rush to pass it by the end of the week. Bush not understand a problem, really? Just like the Iraq War was supposed to pay for itself, so is the bailout. O'Neill offers some advice:

"It is possible to re-liquefy the credit system without 'We the People' owning $700 billion worth of homes"

Essentially, O'Neill said, we run the risk of become the largest owner of foreclosed properties in the world. For a guy who sounds like he understands the problems, sees how politicians pander, and calls on intelligent people to tell the truth, it's no wonder Bush fired him.

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