There were those of us who argued from the beginning that purchasing troubled assets as originally planned would be impractical because it would either have to amount to a direct giveaway to banks (by buying assets at above-market prices) or it would be ineffective (by doing nothing to help banks' capital structures).
I guess Paulson finally realized this.
“I guess Paulson finally realized this.”
Or maybe Bush is realizing he has been had and is reviewing the whole matter. Looking for news on this to understand it better.