The Missing Wind Down

clipped from corner.nationalreview.com I do not understand why those who've voted no should be labeled "irresponsible."  The senate evidently will not deign to take up this crisis legislation until Wednesday.  Meanwhile, even if you don't reject the bill on philosophical grounds (see e.g., Dick Armey's article on NRO today), there is massive room for improvement.  Why not take the time to try to improve it? This was a terrible bill.  To take just a few particulars, why is there no reform of the government interventions that got us to this point in the first place?  Why aren't Fannie and Freddie being wound down — even after we've now had to make explicit the implicit, disastrous government guarantee?  Why is Pelosi saying (as I noted in an earlier post) that the authority in the bill will allow the Treasury Department (perhaps soon an Obama Treasury Department) to take bad debt off the hands of mismanaged state and local governments?