Washington's fiscal mess—and the Bush Administration's leading role in creating it—isn't something we'll be able to ignore forever. See, for example, this trenchant column from today's Deal.com, which revisits the refusal of the Comptroller General of the Government Accountability Office to sign off on the governement's 2005 financial statements. The authors ask: How about applying Sarbanes Oxley to the government's own CEO?

One of the clearest signs of the disarray has been Bush's inability to get someone of stature from Wall Street to succeed John Snow as Treasury Secretary. With problems festering and policy mostly set within a politically motivated, lame-duck White House, press reports had it, no wonder a smart, capable guy like Goldman Sachs CEO Hank Paulson (above) didn't want the job. So what to make of this morning's news that Paulson had signed on? Well, here's some optimistic speculation: Maybe Paulson knows how much he's needed. And maybe he'll also claim a much bigger policy role than either of his predecessors enjoyed. Here's hoping. — Kenneth Klee

Join Corporate Dealmaker's LinkedIn forum