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It seems like an appropriate analogy for current administration is a Chapter 11 reorganization (like say, oh I don't know, maybe Enron?). In a bankruptcy case, management has every incentive to risk everything it can to save its own hide. If it goes a little (or a lot) further into debt, what's the difference? But if management takes a big risk and it works out, then they look great. The only problem is that it's not in the other stakeholders' interest at a certain point for management to play Russian roulette with the company. The best solution is always to put in new management that can put the bigger picture interests ahead of saving its own hide.

Many, including TPM, have made this analogy to a bankrupt company and corporate malfeasance in general. But this is a key point -- one we've mentioned before: under present circumstances, the interests of the White House are radically disjoined from those of the country. It's a very dangerous situation.