Treasury Secy. Paulson's Request for Power: Like Bush on Iraq?

Economics reporter Peter Goodman analyzed the proposed $700 billion bailout for financial firms in his front-page "news analysis" on Tuesday, under the headline "Chilly Review From Experts."

The left-leaning Goodman made a sound point about the Treasury Secretary's ambitious request for power, but felt the need to bring Bush and Iraq into the mix, relying on the liberal "mushroom cloud" line:

Some are suspicious of Mr. Paulson's characterizations, finding in his warnings and demands for extraordinary powers a parallel with the way the Bush administration gained authority for the war in Iraq. Then, the White House suggested that mushroom clouds could accompany Congress's failure to act. This time, it is financial Armageddon supposedly on the doorstep.