Quote:
Originally Posted by Villages Kahuna
I kind of agree with Cologal. Again, not defending any of the named Congressional "perpatrators" but remember, each of them only gets one vote, just like every othyer member of Congress. During the entire twenty years or so when the laws and regulatory changes occurred that lead us to the current financial crisis the control of the Congress flipped back and forth between the parties with neither party ever having a dominant majority. There have been three Presidents since the oft-criticized Community Reinvestment Act was passed. The elected representatives named above had positions of leadership in the Congress, no doubt. But to say that they are the ones directly responsible avoids the fact that hundreds of other members of the House and Senate, and three Presidents who had to sign any legislation during those years, were ALL responsible for the current state of affairs.
As importantly, WE"RE all responsible because we stood by and gleefully watched our home values skyrocket while refinancing to "take equity out" every few years. WE are as culpable as those we elected that let this stuff happen!
I don't agree that President-elect Obama is "beholden" to the likes of Pelosi, Reid, Dodd and Frank and I remain hopeful that he will use his position to temper the out-of-control spending, amending and earmarking that has become so commonplace in our national government. Time will tell.
The ship of state turns slowly. But as we saw in the recent election...it DOES turn!
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You and Cologal can blame everything on the Bush administration as you seem to do, but in this case.....
1. I abhor the spending of the last 8 years and that is with a Republican led congress...agreed. NEVER said other wise.
2. I am and was for the tax cuts. I know we are going to "get it in the shorts" for the next few years with all the promises made, but I am and will always opposed to the heavy taxation.
3. I believe that the congressional leaders I mentioned, especially the Barney Franks of the world KNEW two years ago what could happen and sold out for votes.
4. I think you will find over the next few years that our new President is beholden to a lot of folks with socialist ideas..I believed it before the election and I believe it EVEN MORE STRONGLY TODAY. His associations are 100% of tghe same ilk but we have been totally smitten with the golden tongue.
5. As I said in my response earlier...those I mentioned had more than one vote in reality and you all know that.
I am not pointing fingers at simply Democrats...Cologal seems to feel obligate to protect the Democrats...I do not feel that way about Republicans and have said so many times and am saying it here with my item #1. The leadership of the last TWO years has been deeply involved with Fanniemae, etc and we all know it...why defend them because they are Democrats...I just dont get it. The leaders who had hearings on the areas that fell apart happen to be Democrats...so what.....who cares....they, as individuals blew it and why defend them ?
I am telling you...I am TOTALLY disappointed in the Bush administration..I am not sure what folks want me to do...simply bash him over and over or what.
I am telling you that these senate leaders deserve NO support from you folks.
They are the ones who got us here...and that is a fact !