Some Democratic congressfolks have had the intriguing and unorthodox idea that the role of Congress is to legislate. Ian Welsh has the details on the preparation of alternative bills to the Paulson take it or leave it (with bells and whistles to entice you to vote for it added in the Senate!) TARP measure.
I’m not sure, though, how “market sentiment” of “it’s 700 billion or the apocalypse” will deal with this development.
More at OpenLeft.
Ps: Paul Keating on Lateline last night made some very instructive points about why pumping liquidity into markets isn’t working and why Malcolm Turnbull is playing a populist game on interest rates.
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