Let the games begin!!!!

Now that the bailout is signed and we are supposed to have insured a more stable future it's time to start bringing the bad guys to task on why we had this problem to begin with. Congress, in its infinite wisdom and unrelenting pursuit of the truth is hot on the trail. (don't it just make you tingle all over?)

Enter the House Oversite Commitee and Mr. Waxman.

Our first morally bankrupt bastion of evil and greed is AIG. (I feel the colosseum atmosphere building)

First off I want to point out that it was noted in the article I read that Congress was forced to bailout AIG...now from what I could see over these last weeks, if hundreds of thousands of constituents calling in couldn't force the Congress to do anything they didn't want to do, I am having a hard time believing that they were backed into a corner here.

When the former heads of AIG are questioned as to why things got as bad as they did, their answer was...it was all the trash mortgages we were forced to devalue because of accounting rules.

the response from the HOC was ...so you are saying that this is not your fault? It has nothing to do with your management?...(mind you, if the government enacts laws that tell the companies how they will handle their business...where is the management responsibility in that?)

I guess the point I am trying to get at is this. Congress screwed up. For many many years bankers had set criteria to screen those who came in for loans. This criteria limited the risk in the transaction for the bankers, helped to insure payments would be able to be made and eventually the borrower would be able to burn their mortgage papers in a celebration. (people used to do this you know...have mortgage burning parties to commemorate the final payment on the house.) Congress (mostly those of the Democratic persuasion) noticed that because of this many people could not buy a home. Never mind the fact that they probably shouldn't buy a home cause they couldn't afford to keep up the payments. So the solution would be to enact a law that told bankers to loan to people who were in this bracket and don't worry cause the government will guarantee these loans through Freddie and Fannie. (there was much celebration throughout the land)

Now I am sure that there are those who feel that this was a great idea. More people should be able to buy homes, even those who are not as fortunate as others. I totally understand. However, if that is how you feel and you know this to be right in the depth of your soul. . .why don't you start a private organization that collects funds from all the other people like you and makes the money available to those less fortunate who deserve home ownership, but would otherwise be left renting. If a private organization wishes to get involved in the issue and come up with their own solution, fine. But Congress had no right to stick their noses into private transactions, set the standards and then use the tax payer as a guarantee on such foolishness.

Since they already have and since they have created a mess of things with their consistent meddling, they want to distance themselves from their part in it and are looking for someone to blame. So now the shell game starts.

It's sickening how they count on the lack of attention of the average American. What's more sickening...they are right.