Simple Man Politics

Welcome to all of you to the Simple Man Politics T.G.I.F. post, and I’m going to try to make this one short and sweet…..hopefully so bear with me please.

Today I want to talk about the bailout, the companies bailed out, and who exactly is responsible. This really is not all that complicated an issue, you just have to look at who was and currently is responsible for keeping an eye on the banks and lending institutions where the problems started and the answer as to who is responsible is right in front of our faces every day.

We all know that this whole mess started with the housing market tumbling into the crapper. Freddy Mac and Fanny Mae getting involved in the sub-prime mortgage business and being forced to make those loans to people who could not afford to pay the mortgages they were given. Of course there was plenty of warning that these two governmentally created and sponsored companies were in trouble but those responsible just blew it off and said there was no trouble there.

When Freddy and Fanny fell that of course caused a domino effect that ran the financial markets, banks, and mortgage industry that was almost so catastrophic that recovery appeared all but impossible. Investment companies like Lehman Brothers and banks such as Citigroup and Bank of America found themselves with virtually no cash or assets to finance their businesses because of their involvement in the sub-prime crisis as well.

The people who are responsible for this mess are at the heart of the problem still and in charge of these companies even as we attempt to prop up these companies along with the big three auto makers who have found themselves incapable of selling their cars due to a frozen credit market. Of course there is also AIG who just can’t seem to get their act together and are constantly tripping themselves in the public eye.

While you can point the finger at both houses of congress and the Democrats in particular there are only two people who were responsible for keeping Freddy and Fannie on the straight and narrow. However they had no interest in doing so because they profited the most from campaign contributions and the like from those two failed entities. I am talking about Chris Dodd and Barney Frank.

Senator Chris Dodd (D) did then and currently still chairs the Senate Banking Committee in the upper house. Representative Barney Frank (D) during this whole fiasco chaired the House Financial Services Committee and is still in that position. These two crooks profited from hundreds of thousands of dollars in contributions to their campaign coffers from Fanny and Freddy.

These two criminals were also instrumental in forcing Fanny and Freddy along with other banks to make bad loans to people who couldn’t afford to pay those loans back even though these corporations didn’t want to do business that way. All of this under the guise of the Community Reinvestment Act although all it really was about was the greed of these two, organizations like ACORN, and their sleazy cohorts that ran some of these businesses.

So the next time you see the liberal media sounding off in mock indignation about who is responsible just remember Dodd and Frank. I’m sure that the Obama administration and Turbo tax Tim Geitner may be responsible for some things now, but Dodd and Frank were responsible then and they still are now. These two should at least be investigated and at the most be stripped of their chairmanships and prosecuted.

Well so much for short and sweet. I will be back next week and I hope you all have a fantastic weekend CIAO4NOW!!!!!