What happens now? No Deal? Do the Democrats try to do a bill by themselves that is better for Main Street? Or do they go home for the election? The Congress has a lot of members standing for re-election. Congress was supposed to recess on the 26th. How are they going to keep all the members in Washington?
I think they are going to have to wait for the Stock Market to really crash. The Ted Spread is rising toward 3.50. Apparently all credit availability grinds to a halt at 4.00 or so.
We are dealing with a crisis that mimics the story of the "Boy Who Cried Wolf". Wolf-no wolf and Bush got the Patriot Act. Wolf-no wolf and Bush got the Iraq War. Wolf-yes wolf and no credit bailout for Bush.
The House Republican leadership points fingers at Nancy Pelosi. She is always an easy target for the Republicans, although her speech that they pointed to did not sound partisan to me. "The devil (Nancy) made me do it."
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