Thursday, October 27, 2005

Distractions at the Wrong Time

I'm increasingly convinced that the current investigation into the leak of Valerie Plame's name will result in full governmental paralysis. I don't think any administration in modern times has been more of the "circle the wagons" persuasion than this one. Instead of letting the fish fry on their own, I am worried Bush and his posse will spend every last dime on a foolish effort to jump in and save them. This is stupid. Let Rove, Libby and whoever else was in on it roast alone. This is a distraction the administration can't afford right now. And I don't think the markets have priced in the danger this risk poses. Imagine three years of a completely powerless President. What does that do to the dollar?