The Campaign Spot

House Democrats Given ‘Glossary of Financial Terms’

I don’t expect every lawmaker to be familiar with every major issue that comes down the pike.

But I was a little surprised to read this in the Washington Post:

But Democratic leaders, who said they hope to approve the bailout plan by the end of the week, were having their own trouble rallying the rank and file. House Democrats summoned to a lunchtime meeting to discuss the proposal yesterday received a glossary of financial terms, such as “credit default swap” and “illiquid assets.”

Well, I feel reassured, don’t you? I guess I should feel good that they’ve at least gotten the glossary, and wonder if the House Republicans or Senators of both parties have taken similar efforts to broaden their knowledge of the subject.
I can hear people saying, “Hey, Jim, how familiar are you with those terms?” But then again, I don’t get to vote on bills that will take hundreds of billions of dollars and either save the markets or fleece the taxpayers.

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