Thursday, September 18, 2008

An Admission Of Guilt

It looks like Congress is planning to leave town without addressing the financial meltdown.

Sept. 18 (Bloomberg) -- The Democratic-controlled Congress, acknowledging that it isn't equipped to lead the way to a solution for the financial crisis and can't agree on a path to follow, is likely to just get out of the way.

Lawmakers say they are unlikely to take action before, or to delay, their planned adjournments -- Sept. 26 for the House of Representatives, a week later for the Senate. While they haven't ruled out returning after the Nov. 4 elections, they would rather wait until next year unless Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben S. Bernanke, who are leading efforts to contain the crisis, call for help.

One reason, Senate Majority Leader Harry Reid said yesterday, is that ``no one knows what to do'' at the moment.
Yeah. They don't know what to do. Why would that be? Maybe because they have their finger prints all over the cause of the problem? What are the chances Congress will work to fix what it broke? There is a number that expresses the odds exceedingly well.

Cross Posted at Classical Values

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