Today the House takes up the Palin-Pork Bailout Plan passed by the Senate.  While the outcome is not quite certain, the probable result is a flawed bailout plan enacted with preciously little critical thought, no meaningful debate and an almost total failure of the Democratic Congressional leadership.
Once again Bush and his GOP horde have whipsawed the Democratic leadership in both the House and Senate.   The issue may change, but the script remains the same.  Bush announces a crisis and proposes sweeping legislation.  Democratic leadership, frozen like a deer in the headlights, rolls over in a spirit of "bipartisanship".  This time, the GOPpers in the House have raised the stakes and demanded that the Democratic leadership lard up the bailout with enough pork to justify GOP support for a Bush proposal.  In past crises, the GOPpers have been content to double down on the Bush proposal and play to their "conservative base".  The change in GOP tactics highlight the weakness of Democratic leadership in Congress.
How many days will pass before we see Pelosi and Reid breaking their arms patting themselves on the back for their "bipartisan" leadership in passing the Paulson-Pork Bailout Plan?   Well Ms. Pelosi and Mr. Reid, the Circus Rule has caught up with you.  We won't be fooled this time.
The credit crisis has been brewing for months and has been on page one of virtually every newspaper for several weeks -- more than enough time for the leadership to formulate an effective bailout plan and at least schedule hearings.  Instead, our fearless leadership has done nothing and let the lame duck administration take the lead.  What might our fearless leaders have done?
Well, the answer is plain.  
Pelosi and Reid could have formulated a Democratic Credit Market Reform Bill -- a bill to stem  the tide of mortgage foreclosures and tighten regulation of the credit markets.  Such a plan would begin with giving the Bankruptcy Courts jurisdiction to reform mortgages, granting additional authority to the Treasury Department and the SEC to regulate financial markets and establishing a Select Committee with subpoena power to conduct hearings for 60 days to determine the scope of the credit crisis and its causes.  Armed with such a record the incoming Congress and President would have a record that could be the basis for truly effective reform.
As pitifully as Palin's performed in last night's debate, she got one thing exactly right.  The American people outside the Beltway don't understand, believe in, or support the tactics of an ineffective Democratic leadership in Congress.