I
made a rookie mistake yesterday, proving once again why I shouldn't have
dropped out of journalism school in pursuit of my dream that someday someone
would invent the Internet so I could get up very early in the morning before
going to my day job and write on a variety of subjects for essentially no money
at all.
I wrote a post that was positive about the Treasury's financial
bailout package based on stories that appeared about the package in various reputable
(if unprofitable and only barely still publishing) newspapers.
What I read
sounded pretty good to me although admittedly a bit vague and
preliminary. As it turns out, what I read was vague and preliminary
because the plan is vague and preliminary. Not quite even a plan. It
looks like it might be headed in the right direction, but they took it out of
the oven and served it too soon. What do you call that? Half-baked.
The
response from Wall Street, legislators, and the punditocracy was to be
expected. Severe indigestion. So, while I made a mistake with
premature praise -- the Treasury and the White House made an even bigger rookie
error and I feel pretty lousy about both. (Although needless to say I am much
more concerned about my own embarrassment than I am about the fate of the
entire global economy and the imminent doom that the President of the United States
has repeatedly stated we will face if we get this wrong.)
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