Tuesday, September 30, 2008

Bail Out the Bail Out?

Like I said yesterday forecasting squirrelly politicians just weeks before elections is very difficult. The vote appears to be schizophrenic. The interaction between the President and Congress revolves around a manic depressive dynamic. The President can clearly see the problem and therefore has presented a solution. Congress can also clearly see the problem but they are not looking in the same direction. Or at least the angle is not congruent.

What this means is that there will be a round of badly needed regulatory reform in the next Congress. President Bush’s and Chairman Cox’s ideas will most likely not prevail. Whatever gets passed in this session will be like the rental car after a car accident; Good enough to get you around but not what you need or want.