Something occurred to me this morning, when my local talking heads were pulling a “Chicken Little” stunt, you know, “the sky is falling, the sky is falling, watch us for the latest.” They reported that now communities were going bankrupt and soon things like road work and trash collection would have to go by the wayside to pay the bills. This got me to thinking, where is the outrage from the “drive by media”? Where are the calls for investigations of the major players in this mess? Why are Misters Shummer, Dodds, Frank and Pelosi not being summoned before a Senate committee investigating why this crisis occurred?
We have of course the obligatory committee with the usual suspects grilling the administration, which sounded the alarm about the fallout from these unbelievably rash and ill conceived practices as early as 2003. Mr. Dodds had the bald faced hypocrisy to ask why the administration did not alert Congress and the American people about the possibility of this all going south. Why those on the hot seat did not answer the question honestly is a mystery to me. This is what should have occurred at the hearing.
Mr. Dodds: (smirking) Why didn’t the administration alert Congress to the possibility of such a disaster occurring in the financial markets?
Token administration scapegoat: Well, Senator because the people responsible for it, those on the Senate Banking Commission/committee told us in 2005 there was no problem. Congressmen Waters, Davis, Meeks and of course Clay (who called the idea of an investigation of Mr. Raines a political lynching) spoke at the hearings and assured us all was well. Then there are the usual suspects Senators Shummer, Dodds, Pelosi and Frank not to mention Waxman. All of them have told us that there was NO crisis, it was made up by racist Republicans. The fact is that those in charge i.e. Raines, Garlick and Johnston were cooking the books, but received a pass because of their political leanings and their victim status as blacks, women and or Democrats. The regulators in 2005 were attacked, their expertise besmirched, their integrity degraded all because they had the audacity to tell the truth. I don’t know Senator………why didn’t YOU tell us the truth in 2005?
That’s what should have happened. Those in charge whose unbelievably naive, incompetent idea it was to force financial institutions to lend money to people who couldn’t possibly afford to pay back their loans should be investigated. Their assets should be frozen and all monies earned by them over their government salaries put into a fund to repay the losses at Freddy and Fanny. Those two organizations should be revamped or if that is not feasible dismantled and the loans that have some hope of being paid refinanced.
We the people should then take a very intense look at the partners of the Liberal Left who helped drive the bus of this crisis. How does it feel at the New York Times, LA Times, Philadelphia Enquirer, et al, to know that you are officially the whore of the Democratic Party? You have prostituted your ideals, your craft and your integrity to people who use you to protect them, to make them rich and to steal and cheat not just your reader but you as well. Prostitutes on the street get better treatment, at least they get paid. All you get are falling revenues, job losses and subscriber flight. Congratulations, American journalism died-2008, actually it committed suicide.
The government should commission a monument. We could put in Arlington National Cemetery. Wait never mind, it would be among those who served and gave the last measure for their country…….they’d probably rise up in mass and throw the monument into the Potomic River. That’s probably appropriate. It’s already really polluted, one more pile of trash wouldn’t even be noticed.