So, when the history books describing this time are written will they really look back at yesterday’s decision by Congress as the pivotal moment? Will the decisions of those 228 Law makers really send the global economy into a 1930s style depression? Was this really a one off opportunity to fix the problem? Last night, EU Commissioner Peter Mandelson was interviewed on BBC2 Newsnight. He said “I feel they've taken leave of their senses and I hope that in Europe we will not see politicians and parliamentarians replicating the sort of irresponsibility and political partisanship that we have seen in Washington.” And yet, consider this. The Paulson plan had many flaws. There are strong arguments to suggest it was the wrong plan. Some say, well, at least it was a plan. Any plan is better than no plan. But is that right ? Most successful business people will tell you it is a mistake to make split second decisions. If you enter into a hire purchase agreement to buy a new TV, you are given a seven days cool off period. If you are buying a house, the lawyers seem to do their best to slow the whole process down, with their due diligence. In business, it sometimes feels as if lawyers call the shots – their "moreovers" and "whereupons" can be irritating, they can slow transactions down, but most would agree they are essential. Sometimes you may find yourself under pressure. We are usually suspicious of take it or leave it deals. Here is some advice for a would be buyer subjected to a high pressured sales techniques: walk away. Anyone who tries to persuade you the deal won’t be available tomorrow is usually bluffing. Now we are told we face financial Armageddon. That it is 1929 all over again, that yesterday’s no vote by the House of Representatives spells the end of prosperity. That the US is a third world economy in the making. And markets do their headless chicken impersonation. Paulson wanted $700bn, yesterday the US stocks markets had more than $1trillion knocked off their value, therefore goes the argument, Congress's reticence has already cost more than the money Paulson wanted to spend. Yet, you know that’s not true. Markets rise and fall, even the US government has only limited opportunities to spend $700bn. Right now, what is really called for is thought, a considered response to the financial crisis. Those who can keep their head while others panic, should be the ones who set the pace. Yesterday’s decisions by Congress does not spell disaster. And this is why.