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The Texas Strategy
By Paul Krugman
The New York Times

Monday 15 January 2007

Hundreds of news articles and opinion pieces have described President Bush's decision to escalate the Iraq war as a "Hail Mary pass."

But that's the wrong metaphor.

Mr. Bush isn't Roger Staubach, trying to pull out a win for the Dallas Cowboys. He's Charles Keating, using other people's money to keep Lincoln Savings going long after it should have been shut down - and squandering the life savings of thousands of investors, not to mention billions in taxpayer dollars, along the way.