Bloomberg is reporting that Congress may adjourn rather than face the crisis.
My cynicism radar just went into high gear.
First, I and the voters of America elected these people to represent us and help address these issues. Now I believe they should do nothing to fix the matter since it is not a problem that can be fixed by government regulation.
But that doesn't mean that there is not other business of the people that needs to be addressed and abandoning their job is a problem of the greatest magnitude. I want their pay to be forfeited for the days they are out of session.
Second, contrary to what I think should be done, the fact of the matter is that Congress is going to pass some sort of legislation to "address" the financial "crisis." I am not so much of a fool as to believe something won't happen. That being said, then Congress needs to stay in session and work the problem.
Third, by looking to get out of town in the midst of a crisis, the Democrats are hoping the Bush Administration will screw the pooch (a pretty likely possibility given that any response will be too rash to be considered properly). That gives them the cynical position of being able to be critical without having to offer something up themselves.