As a psychologist I tend to see things from a slightly different perspective.  To me the Paulson plan clearly comes out of a state of panic on the part of its author.  I have worked with a number of people who have led secure, anxiety-free lives and have then had to cope with the sudden onset of severe anxiety due to a crisis.  Having little or no experience dealing with this emotion, these people tend to panic, and when they do they revert to fairly primitive modes of thought.  Panic reactions are often characterized by an overwhelming need to regain as much control as possible as immediately as possible, without concern for any other factors.  This is also what characterizes the Paulson plan:  it was a demand to do something extremely large right away, regardless of any problems that the action would cause.  The essence of the plan and its presentation also was this:  “You must give me enormous resources and absolute power over them and must do it immediately or else we are all doomed.”  If that doesn’t describe the thought processes of panic nothing does. 

I would also point out that news accounts mentioned that Secretary Paulson at one point in the negotiations seemed to be suffering from dizziness, and some were afraid that he might have needed medical attention, but he recovered quickly and continued working.  This sounds just like an anxiety attack to me.

It disturbs me to come to this conclusion because I believe Secretary Paulson was doing a pretty good job before he presented his plan.  When FDR became president he realized that he had to stop the contagion of fear that had spread throughout the country and took steps to do that.  Secretary Paulson has done the opposite, spreading the contagion and adding to a state of panic which has made proper consideration of the problem and its possible solutions impossible.