I watched as much of the Hill hearings with Barney Frank, Maxine Waters, Naked Emperor Hank Paulson, Ben Bernanke, and Sheila Bair as I could stand.

Kabuki theater gives me a headache.

Most revealing moments:

*When stalwart bailout opponent GOP Rep. Jeb Hensarling pointed out that everyone under the sun was applying for TARP funds including a group of Hispanic plumbers and contractors, he asked Paulson if he could please provide a clearer definition of what qualifies as a “financial institution.”

Paulson’s answer: “I can’t.”

Translation: “I won’t and I don’t have to do so. Nyah. Nyah. Nyah.”

*When Democrat Rep. Waters, one of the Crap Sandwich’s biggest cheerleaders, whined for 10 minutes about how her trust was betrayed, she and Paulson looked ready to shed tears.

Boo-freaking-hoo.

If she were truly enraged, she’d be leading the charge in the House to freeze the rest of the Crap Sandwich funds. Instead, she’s redoubled her efforts to get a piece of the pie.

*Paulson to the Chicken Littles who put their full faith in a naked emperor: “There is no playbook.”

The Foundry underscores a message I’ve sent from the start: Paulson is part of the problem.

*And on the auto bailout, Paulson’s message to the fools on the Hill: Don’t mess with my crap sandwich! Make another one.

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More:

Mark Tapscott — Bailing out dead donkeys.

Jim Pethokoukis — The 11 Blunders of Hank Paulson