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.
To be clear, they don’t know what to do to fix the problem, but they will be there if the feds call for help!
The simple truth of San Fran Nan’s comments is that she doesn’t want to put forth a policy until the White House has put forth one to put hers against. If she puts out one first and the White House concurs with it, she’s screwed. If the White House puts out one first, she can take the contrarion position and claim (spelled LIE) that she’s fighting for more/less regulation to protect the little guy. Bush and McCain have been trying to get substantive regulation over Fannie Mae and Freddie Mac for years just to try and avoid something like this from happening.