Summary
The initial defeat of the Bush administration's bank rescue plan in the House of Representatives was affected by Congressmen facing re-election who were reluctant to be seen by their constituents as saving the skins of unpopular Wall Street fat cats. Incoming presidents enter the White House on January 20 to empty offices, with papers and computer records removed to await the opening of their predecessor's presidential library.
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Extract
Transition Trauma
tHE COINCIDENCE OF MELTDOWN-ECONOMICS AND a close presidential contest has affected America's handling of the crisis in various ways. President George Bush's lame duck status - reinforced by his low popularity ratings - has relegated the sitting president to the sidelines. In an unprecedented move, De...
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