Friday, September 19, 2008

Behind the Curtain

I was looking at news stories all day yesterday. One that I saw early in the day went something like this:
"Reid, Pelosi say they're considering recessing Congress more than a week earlier than the sceduled hiatus and leave the financial crisis in the  administration's (fully capable) hands since no one knows what to do."
Also, even Republicans were complaining that the rescue measures so far had been taken without any discussion with Congress.
I also read a piece that alluded to the piecemeal nature of the measures so far.
Then, voila!, there's a hastily called meeting between Senators and  administration officials, Bernanke and Paulson, and there seems to be serious progress toward much more comprehensive measures involving FDIC like insurance for money market funds and government purchase of bad debts.
All of this today, and I can't help but think I got a peak behind the curtain. Maybe someone is writing about it. If you see anything, send me a link.
Who's in charge here? Who won and who lost?
And why aren't they telling McCain what's going on. That little threat to fire the head of the SEC was a desperate cry for help, I think. Neither he nor his people are in the loop.

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