Forgive my Canadian-educated ignorance, but I'm confused --- is there a simple way (I don't want you to waste a lot of time on this) to explain what happens now? What happens when the senate goes against the House of Representatives?

Awww. You zapped the "Cthulhu is a saint" line.

Pity, as I've been comparing things to the foul nauseating stench of offal which pass for the leaders of the Free World all day . . . and it has made the hours pass so pleasantly . . .

Curious.
Here in Belgium a bank (mine) was on the brink of collaps under speculative preasure. In just three days the governement of three different countries got a plan worked out in cooperation with the Eropean central bank and the European councel. They injected 11 billion Euro into it.
No need for lenghty convulated political debates. Just action when it's needed. Decisive action is what is needed in situations like this. Lenghty debate feeds the uncertainty in the market and pushes specilative presure up.

I agree that a "bail-out" give away is not the best solution. But banks going bankrup is certainly not a good alternative.
The problem we have is a very strong short and hyper short term market. And no easy way to correct/amend that.