Bailout: Gone With the Windbags?

In reading CBO Director Peter Orszag's useful statement to the House Budget Committee about the bailout, I notice that the official name of the thing is the Troubled Asset Relief Act. Yes, its called TARA (a tribute to Ben Bernanke's southern roots, perhaps?).

And now, it looks like the House Republicans are burning down Tara. Don't they realize that some people still haven't gotten over the last time?

Paul Krugman and Steven Pearlstein gallantly defend Tara, but is it a lost cause? Hopefully things won't get this bad:Update (9/29): In its latest incarnation, the bill is the Emergency Economic Stabilization Act of 2008, which establishes a "Troubled Assets Relief Program" or TARP.