From the article:
“”Because Congress failed to act, we will stand ready to prevent an imminent failure until Congress reconvenes and acts to address the long-term viability of the industry,” said Treasury spokeswoman Brookly McLaughlin.”
Congress did act.
Congress said no.
but at least Bush is pro life, right?? When will we learn its much more important to get a fiscal conservative in the White House??
Yeah, but before Congress said 'no', Congress said to the Treasury Department, 'you guys handle this stuff, we're too screwed up to do it'. Treasury's just using the authority Congress delegated to them.