Now I know how Elvis Presley felt when he shot his television! Watching Barney Frank (D-MA) and Chris Dodd (D-CT) pontificate about how they are going to save the country in it’s time of financial crisis made me nauseous. How is it that these two charlatans can fain concern when they are among the principles responsible for getting the taxpayers into this mess?
By now even the most intellectually stunted among us understands that the first casualty of politics is honesty. No matter how superficial or how serious the matter, inside the beltway spin doctors take the facts, carve out anything that points to their client’s guilt or responsibility in any given matter and then figure out how to package it so they can level a charge of irresponsibility and ineptness at their opponents or opposing colleagues. Kool-Aid drinking political sycophants glom on to these talking points and suddenly the innocent are the guilty and the inept and responsible are pointing fingers of blame.
There are several facts that we must not allow the spin doctors, the mainstream media and the guilty to rearrange:
1) Ever since George W. Bush came to power in 2000 he, along with Sen. John McCain, have been spotlighting the need for a reform of the laws that govern SEC and Wall Street oversight. Their insistence on oversight reform of our financial institutions and markets has been consistent, loud and ignored.
2) The current financial quagmire in which our nation is firmly planted started, arguably, when Bill Clinton, came up with his “National Homeownership Strategy.” This financial scheme, most likely geared toward bolstering Bubba’s legacy as a man who “cared about the little people,” promoted insanely low down payments and coerced lenders into giving mortgage loans to first-time buyers with unstable financing and incomes.
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Frank Salvato also serves as the managing editor for The New Media Journal. His writing has been recognized by the US House International Relations Committee and the Japan Center for Conflict Prevention.
