How could a supposed smart person say this:

White House Economic Advisor Lawrence Summers said Monday that there is substantial private investor interest in the government’s public and private partnership plan to take bad assets off banks’ balance sheets.

Stocks rallied following the announcement Monday morning, and Summers reacted by saying, “we’re gratified by the market reaction.”

and this:

“We’re not managing to markets in the short run,” he said. “We don’t panic when markets go down and we don’t become euphoric when markets go up.”

all in the same interview?

Obviously it’s a trick question. We are ruled by callow, craven idiots.