Another power grab??

Analysis on the $700 billion bailout in The New York Times:

Some are suspicious of Mr. Paulson's characterizations, finding in his warnings and demands for extraordinary powers a parallel with the way the Bush administration gained authority for the war in Iraq. Then, the White House suggested that mushroom clouds could accompany Congress's failure to act. This time, it is financial Armageddon supposedly on the doorstep.

"This is scare tactics to try to do something that's in the private but not the public interest," said Allan Meltzer (above), a former economic adviser to President Reagan, and an expert on monetary policy at the Carnegie Mellon Tepper School of Business. "It's terrible."