Tough Dealing on Financial Fix

Efforts in DC to come up with a deal to avert a potential collapse of financial markets have entered a tough negotiating phase going into the night. As President Bush explained last night, this is a very serious situation where some kind of government action is necessary and probably inevitable.

However, demands for immediate action to avert a crisis do not mean we have to forgo thinking about what is a good solution and what would make a bad situation worse. Reportedly, from evening news and talk shows, Republican House members are holding out to move the package toward a more free market and responsibility compatible solution. Senator John McCain is reportedly playing a major leadership role. Of course almost anything could possibly happen, so let's pray for the best.

Largely overlooked this week is an apparent Republican victory in the fight to enable access to offshore and shale oil resources.