"There is no limit to what a man can do or where he can go if he doesn't mind who gets the credit." - President Ronald Reagan.

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Tuesday, September 23, 2008

Before Congress Okays Bailout...

Before Congress okays the $700 billion bailout of Wall Street, they need to do a few things:

1. Remove Barney Frank, D-Mass., as chairman of the House Financial Services Committee.

2. Remove Christopher Dodd, D-Conn., as chairman of the Senate Banking Committee. He was the top recipient of campaign donations from Fannie Mae. That alone should disqualify him from being involved in the bailout package.

From Yahoo Anwers.com:

Both of them pushed for lending standards to be watered down to permit sub-prime loans, so that minorities would get loans. Now we are in a fully fledged financial and housing crisis because of these loans. The principal quasi-federal agencies - Fannie Mae and Freddie Mac - have gone belly up. Those who were running them are closely connected with Senator Obama's campaign.


3. Launch a full investigation of the cause(s) of this financial mess. The investigation should be made by a Senate Select Committee, not through the Senate Banking Committee headed by Dodd. Likewise, a special investigation should be made by the House of Representatives.

4. If the House and Senate refuse to fully and fairly investigate this mess, then President Bush should appoint a special Presidential Commission.

If heads should roll, including those of Franklin Raines, Jim Johnson and Jaime Gorelick, then they should roll.

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