You can always count on Congress.

A few days ago I made a post about the Federal Reserve's proposal to bailout the US financial market by investing a considerable amount of money in our economy.  Most of the money would be used to buy bad loans and mortgages which in turn would (supposedly) offer incentives to Americans to invest in the economy and turn the recession around.  The method that the Federal Reserve, in cooperation with the Treasury and President Bush, had chosen involved giving Henry Paulson a sum of 700 billion dollars to use for the rescuing of the economy.  Ideally, they wanted Paulson to have full control over the money so that he could do whatever was necessary to correct our economic problems.  However, the lawmakers on Capitol Hill were a little more than skeptical about giving someone that much power and as expected struck down that possibility in the very beginning. 

It's now Friday and Congress has yet to pass a bill and send it onto the president.  Naturally disagreements about the particulars of the bill were expected to arise, but we must ask ourselves: Are such trivial disagreements all that important considering that an financial crisis is going on? I think Congress needs to work together and pass the bill already, the Secretary was hoping something would be passed by the end of the week. Now, even that prospect looks gloomy.