“This may not even be enough…”

While it’s a quote that’s only been alluded to by a wary media, it’s a line that just seems to stick in the back of my mind these days as the $700 billion dollar loan that was set to be passed by congress today turned into a flaming pile of poo.

From the New York Times:
“We’re in a serious economic crisis,” Mr. Bush told reporters as the meeting began shortly before 4 p.m. in the Cabinet Room, adding, “My hope is we can reach an agreement very shortly.”

Mr. Boehner pressed an alternative that involved a smaller role for the government, and Mr. McCain, whose support of the deal is critical if fellow Republicans are to sign on, declined to take a stand.

This whole situation is a mess, and no one wants to screw it up…especially not congress. This bailout is going to be expensive and the risk involved is huge. One could compare it to the Iraq war as an issue of complexity, because there’s no telling how much it will cost to fix this problem. Congress could be throwing money at this forever. It’s not very often that three of the largest institutional companies in the United States go belly up at the same time, and it’s difficult to say exactly what the US government is supposed to do when it happens. You can only hope that tomorrow will bring a better day.