Greg Mankiw tells it like it appears to be going here.
Where is the Supreme Court when we need it? We're supposed to have three branches of government. Two of the three have evidently decided law doesn't matter any more. We need the third to do its job.
Maybe we could make an appeal to the 50 state governors. Texas seems to be ruminating about states rights. Did we elect a king? He seems to think so. Sadly enough, lots of the herd seem to be okay with that.
Bush and his crowd of financial geniuses started the ball rolling with Paulson's ham-fisted TARP. We have laws about what's to happen with banks that are insolvent, but they weren't followed by Bush or Obama. Why not?
Now we have the auto industry. We have laws about companies that are insolvent, too. But they are also not being followed. Why not? Instead, President BHO has decided that it's his domain to do whatever he wants to do. Does anyone else out there have a problem with that besides me?