Money is being wasted as part of the bailouts, and Obama claims it's not his fault and he didn't know. This administration is falling apart, and all the White House spin machine can say is "It wasn't me."
This isn't new. Among the things Obama also didn't know even though they were going on all around him were Jeremiah Wright's anti-American statements, Tony Rezko's widespread fraud, Rod Blagojevich's questionable ethics, and William Ayers' terrorist past. (More things Obama didn't know are here.)
We've heard this song before, about someone who gets caught red-handed yet denies responsibility. Hat tip to Shaggy: