Casting aside partisan differences, Senate Democratic and Republican leaders said on Tuesday that they would work urgently on a package of legislation to help millions of homeowners at risk of foreclosure, with the hope of bringing a bill to the floor as early as Wednesday afternoon. The new pledge of cooperation was the latest sign of fast-growing consensus among Congress, the Bush administration and financial regulators that broader government action was needed to prevent a torrent of new foreclosures and further collapse of the housing and residential mortgage markets. And it reflected the mounting pressure on Congressional Republicans and the White House to extend a helping hand to average Americans after the Federal Reserve's intervention in the near collapse and proposed sale of Bear Stearns, the New York investment bank, to JPMorgan Chase. (New York Times, Wednesday)
They can always be counted on to unite to defend the legitimacy of the interventionist state.
FEE Timely Classic
Liberty and Responsibility: Inseparable Ideals by Max More