Investors grew fearful that top economic officials updating Congress about efforts to work out a $700 billion financial rescue plan were facing a greater degree of second-guessing from lawmakers than expected.Congress is second-guessing efforts to work out a $700 billion bailout? Isn't that like parents second-guessing their child's request for a new toy. Second-guessing is supposed to be when you criticize a decision you don't have the authority to make.
Congress does have the authority to spend money. The Treasury and Fed do not. So I would call it wise and prudent first-guessing.
The AP writer seems to think that those who would like a bailout naturally deserve to have their way. Any debate by the people with that actual authority to approve the bailout is seen as second-guessing.
Congress is right to take its time before taking such a huge decision.
No comments:
Post a Comment