Runaway Train
Congress has lost control.
"After the Wall Street collapse in the 1930s, Congress laid the groundwork for historic reforms with a meticulous investigation of the misdeeds of corporate bankers by the Senate Banking and Currency Committee – known as the Pecora Commission after the panel’s chief counsel, Ferdinand Pecora. But the 111th Congress didn’t wait for completion of a probe to propose fixes. The ongoing Financial Crisis Inquiry Commission, chaired by former California state treasurer Phil Angelides, is to report to Congress in December."
Instead they are going to try and ram through a bill which fixes what caused the financial crises, by getting rid of the huge downfalls of a mixed economy created by Freddie and Fannie and government regulation which creates asset bubbles and false security.
Wait, whats this? The bill does not even mention or deal with Freddie and Fannie? But everyone knows they were the root of the issue. Ohh - too hard to deal with, so you are going to screw over companies which did nothing wrong in order to appeal to your emotional fan-base, by imposing regulations which have nothing to do with what went wrong and then taxing those same companies to pay for them. Right. Good work. Makes sense to me, you chicken-shit excuse for a congress.
"After the Wall Street collapse in the 1930s, Congress laid the groundwork for historic reforms with a meticulous investigation of the misdeeds of corporate bankers by the Senate Banking and Currency Committee – known as the Pecora Commission after the panel’s chief counsel, Ferdinand Pecora. But the 111th Congress didn’t wait for completion of a probe to propose fixes. The ongoing Financial Crisis Inquiry Commission, chaired by former California state treasurer Phil Angelides, is to report to Congress in December."
Instead they are going to try and ram through a bill which fixes what caused the financial crises, by getting rid of the huge downfalls of a mixed economy created by Freddie and Fannie and government regulation which creates asset bubbles and false security.
Wait, whats this? The bill does not even mention or deal with Freddie and Fannie? But everyone knows they were the root of the issue. Ohh - too hard to deal with, so you are going to screw over companies which did nothing wrong in order to appeal to your emotional fan-base, by imposing regulations which have nothing to do with what went wrong and then taxing those same companies to pay for them. Right. Good work. Makes sense to me, you chicken-shit excuse for a congress.
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