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Sir; give him a clean bill? What?.. No sop for the working man, but bizillions for their exploiters. There is a reason we can't live without credit. No justice means no fair wages. No justice means no job protection, no education, no tarrifs, or restraints on business, and best of all no taxes on the rich who are ending up with all the goods. That man does not need a clean bill. He needs a clean government, a fair economy and a term in prison. Like a lot of others. People need credit, when if it is essential, or good for the society, government should be the lender and collector. And that is not the same as buying all your bad debt. You guys have made it bad. You have the government on your hook for the very money it loans to you to borrow from you to loan to you to borrow from you to loan to you. You have inflated the value of every property in America when, If property supported the country, it would be cheap and easy to get with only the problem of making it profitable enough to pay taxes. How many times has wall street gotten rich selling the same pieces of property? And now that it can squeze no more out of this people bled white by interest, now you want the government to bankroll you. What non sense is this since again they must borrow from you to bank roll you. Don't you kind of stretch the limits of credibility? To the breaking point? ...Thanks...Sweeney
Comment: #1
Posted by: James A, Sweeney
Wed Sep 24, 2008 9:33 PM
Unfortunately, the 700 Billion Dollar “bailout/investment” is probably needed, given where credit markets are at the moment and what the global market expects; but, is that amount really sufficient? If we embark on this course of action, which appears inevitable, should taxpayers be forewarned that the final price tag could exceed 2 Trillion Dollars, while we all hope it can be managed for less than $700 Billion?
Over the past several days we have been quick to criticize the Presidential candidates (“one to hot, the other too cool”). But has anyone noticed that Congressman Barney Frank (on C-SPAN and other media outlets) continues to accept no responsibility on behalf of Congress, our/his Party, his leadership position, inconsistencies in past voting records, and public remarks made in the past. If we want to call McCain's temperament "hot", which it is, and Obama's “cool”, which is also true, then how should we describe Congressman Frank's temperament...hotter than hot, a bully, a blame dodger, a blame placer, or what?
It's time for one of the respected media outlets to provide a timeline of events regarding Freddie and Fanny. If George Will, earlier this week, was bold enough to "tell it like it is", in spite of his political party affiliations, then is it time for us to make a similar bold statement? Did the Bush Administration warn Congress about Fanny and Freddie at least in 2001 and 2003? Did McCain warn Congress in 2005? Have numerous Federal Reserve Chairmen, and others, been warning Congress for years that new legislation/regulations are warranted for Freddie and Fannie?
Let's see a breakdown from the press of exactly who, in each party, effectively blocked legislation that would have provided better regulatory oversight of Freddie and Fanny. Those are the Congressmen, in both parties, who should at least be voted out of office. Would it be worthwhile for a "Special Investigation" to be conducted, whether by the FBI or by a disinterested 3rd party blue ribbon panel, to determine if Civil Money Penalties and Criminal Charges are warranted for those members on Congress who accepted money from Fannie and Freddie and blocked legislation/regulations pertaining to their oversight?
Let's remember the three branches of government. When was the Executive Branch and/or the Judiciary empowered to make laws or regulations? Is that not the responsibility of Congress? Why not identify the culprits in Congress who contributed to this financial mess, no matter which Party, and at least vote them out of office? Congress tends to “pound their chests” regarding investigations into executives and Boards charged with the responsibility of "duty and care" and "safety and soundness". Isn't it time for Congress to stop dodging their responsibilities and blaming others? Is it time for Congress to get a taste of what they dole out to others by conducting "special investigations" into the behavior of numerous Congressmen/women?
Special Investigations might be the first step in tearing down the grid-lock between the two parties and two Houses of Government. Why not force Congress to act like Statesmen/women representing the "United" States of America? Legitimate dissent is expected. But should American citizens expect more than a “do little/nothing Congress” in a “continued mode of crisis management”? Are we tired of Congress pointing fingers at other branches of government, regulatory bodies, and other governmental agencies when the majority of the blame may rest at the feet of those empowered to make law – the Congress!
Yes this economic crisis needs immediate attention and thorough follow-up over the coming weeks and months, but we also need other short term and long term strategic plans for other important issues. For example, when will Americans have an energy plan that weans us off so much dependency on foreign oil and moves us in a new direction for clean energy sources while not abandoning our short term reliance on what we need today, next week, and next month? Borrowing from our two Presidential candidates is it time to "effectively juggle several issues simultaneously” (Obama) and place “Country First” (McCain)?
Should we vote out of office politicians in both parties who tend to place their own “special interests” and/or their “party's interests” above our “citizens best interests”? Is it time for voters to help “end the gridlock” in Washington in November? Will responsible journalists help identify those “politicians” who held up legislation and regulations pertaining to Fannie and Freddy over the past 8 years?
Comment: #2
Posted by: TexCitizen
Thu Sep 25, 2008 10:53 AM
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