They Knew This Was Coming?

Ken AshfordEconomy & Jobs & Deficit1 Comment

Buried in a Roll Call article today:

[White House Deputy Press Secretary Tony] Fratto insisted that the [$700 billion mortgage bailout] plan was not slapped together and had been drawn up as a contingency over previous months and weeks by administration officials. He acknowledged lawmakers were getting only days to peruse it, but he said this should be enough.

This is troubling.  The $700 bailout plan is being presented to us as an unforeseeable crisis.  But apparently, the Bush Administration foresaw it, although (presumably) not knowing when.  And then they spring their plan on a Friday, insisting on approval by Monday?!?

Something’s afoul, I say….