I took the opportunity to watch the Congressional hearings on television. I'm fascinated by all of this--not just the nature of the crisis, which I can learn more about from the Wall Street Journal--but instead I am keenly interested in the hearings themselves. I like to see Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke sitting in their very hot seats, fielding questions from Congressmen (and Congresswomen) who are desperately trying to wrap their minds around these very complex issues.
I've been to Congressional hearings before, even testified at them. Generally they are politically motivated and wholly lacking in substance. But these hearings are different. The stakes are high. The issues complex. And choosing sides is turning out to be much less partisan than usual. This is how government was meant to be--elected officials seeking to understand the issues, with the bureaucrats trying to explain why they, in concern for their country, are recommending this plan.
This reminds me of when I was in high school, spending hours watching the Watergate hearings. I can vividly recall Sentators Sam Ervin, who chaired the committee, along with rising star Howard Baker, Daniel Inouye and others, grilling John Dean, John Erlichman, J.R. Haldeman and others. It felt so very historic and important.
Years later I was fascinated by the Supreme Court nomination hearings for Robert Bork and then Clarence Thomas. Yes, these were much more political and partisan events. But still they both seemed like watershed moments in our history, particularly the Bork hearings which questioned the fundamental role of the Supreme Court.
You really have to watch these to appreciate them. Sound bites that you pick up on the news just aren't good enough. And the printed word fails to capture the dramatic tension of the moment. This is history in the making. It ought to get an Emmy.
I may just go watch one now
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