the visible hand

it is the theory which decides what can be observed – einstein

`No One Knows What to Do’

Posted by ecoshift on September 17, 2008

Bloomberg.com: News
Reid Says Congress Won’t Act Because `No One Knows What to Do
By James Rowley

Sept. 17 (Bloomberg) — Congress is unlikely to pass new legislation to overhaul financial regulations this year “because no one knows what to do,” Senate Majority Leader Harry Reid told reporters today.

“We are in new territory, this is a different game,” Reid said at a briefing in Washington. Neither Federal Reserve Chairman Ben Bernanke nor Treasury Secretary Henry Paulson “know what to do but they are trying to come up with ideas,” Reid said.

Illinois Senator Dick Durbin said in a speech on the Senate floor that President George W. Bush isn’t in a position to propose regulatory overhaul legislation because he is close to leaving office “and the Congress is not in a position to pass it.”

Advertisements

2 Responses to “`No One Knows What to Do’”

  1. Eric Kirk said

    You gots lots of posting to do!

  2. ecoshift said

    You’re right. Not knowing what to do hasn’t stopped them from asking for 700 billion to do it with.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

 
%d bloggers like this: