Commentary Magazine


Sanity Returns?

The Senate is apparently not enamored of the idea of waiting to find out if Nancy Pelosi can put together a deal The Hill reports:

In a surprising development, Senate leaders Tuesday night announced a Wednesday evening vote on the $700 billion Wall Street rescue plan rejected Monday in the House of Representatives. Senate Majority Leader Harry Reid (D-Nev.) and Minority Leader Mitch McConnell (R-Ky.) announced the agreement in a joint appearance on the Senate floor just after 7 p.m. Agreements are in place for a voting procedure and the vote itself is expected sometime after sundown, to respect the Jewish holiday, both leaders’ offices said.

My Senate source advised that Chris Dodd will offer an amendment, but that it will be subject to approval by McConnell. The chances that the “bad stuff” — e.g. ACORN slush fund — is minimal I am told. It seems that “destiny has taken a hand.” Whether that will be enough to reach a deal remains to be seen.