Ouch! Paul Krugman's column in the Times today on corporate shenanigans certainly got the president's attention.

Every story needs a context. Every anecdote requires a broader narrative to give it meaning. And we're now being treated to a marvelous example of this fact.

Everyone who pays any attention to politics has long known that back in his days as a Texas oil man President Bush failed upwards through a series of business transactions -- at least one of which looks quite similar, albeit on a far smaller scale, to what WorldCom and Enron got caught doing. Only now, with all the dust kicked up over corporate malfeasance, does it fit into a larger framework with political bite.

As DC Democrats and Republicans are realizing, this has legs. And a soon-to-be-released article contains some as-yet-undisclosed and, I think, very embarrassing statements from the president which will give the story even more steam.

Check back with TPM tomorrow for some choice examples.