Well, apparently the House Republicans have decided to run a neat little experiment to test the actual odds of the current financial crisis turning into another Depression in the absence of a bailout plan. What alternative do they propose that could realistically be enacted? How long do they think this would take, and what risks would we run during the period of uncertainty, even if it were successful?
I have no visibility into the current machinations on Capitol Hill, but I’m with Noah Millman: as far as I can see, if I were a senior Democrat right now, I’d introduce a Democratic alternative tomorrow and pass it on a party line vote.
I sure hope House Republicans are holding some cards they haven’t yet revealed.