This is what I always disliked about linking comics with reality. In any superhero-based world, there would be no invading armies looking for WMD. There would be a telepath or super-speed type searching everyone and everything.
In DC, any President not named Luthor could have had Superman do this by himself with reasonable certainty that Supes would go for it.
The Flash, Professor Xavier, Jean Grey, Psimon, Zatanna, Dr. Fate etc...all could tell within minutes if any country had WMD. Making it a running plotline as if the super-beings were bound as we are is more than silly; It defies the nature of the comics themselves.
I think it is kind of funny that they make Lex Luthor really smart, but really evil:
So, is Bush really that evil? Is the US electorate really that stupid?
I see it as the same old philisophical battle between the elitists of Plato/Socrates/Sparta, and the people who wanted to have the people and the G-ds decide.