Senator Dodd Plays the Pot to GM's Kettle

Pajamas Media ^ | December 10 | Pam Meister

[AJKauf]

Mr. Subprime himself proclaims to the automaker that it's time for new leadership.

His recent claim to national fame — or is that infamy? — is related to his involvement in the subprime mortgage meltdown. As the head of the Senate Banking Committee, Dodd was one of the stooges involved in overseeing what was going on over at Freddie Mac and Fannie Mae. His partner in crime was his House counterpart, Barney Frank.

So while Dodd is busy preaching about how GM needs an “out with the old, in with the new” restructuring policy, he conveniently ignores his own questionable role in the problems that are plaguing the American economy today....

[Dick Bachert]

In a column on the financial melt-down published around 11/30/08, New York Times columnist Thomas “The Earth is Flat” Friedman treated readers to yet more classic MISinformation so typical of the soon-to-be-bankrupt Times. Could their long history of historical revisionism be the reason they’re in trouble? But that’s a topic for another post.

Friedman portrayed the greedy bankers and Wall Streeters as the villains.

Yes, many of them may have gamed “the system,” bundling this “junk” into “derivatives” even PhDs in economics didn’t understand.

But if that “system” hadn’t been created in the first instance, the gaming would not have even been possible. Friedman conveniently failed to mention that the system was a creature of the 1977 Jimmy Carter sponsored “Community Reinvestment Act.”

Allegedly designed to make the American Dream of home ownership available to all, it was expanded in the Clinton years to include even those with virtually no prospect of repaying. Lenders who refused to “get with the program” were threatened with loss of their charters.

Until it unraveled, it was a brilliant Democrat vote-buying scheme.

And as it unraveled, Barney Frank, Chris Dodd, et al stood silently by and watched. These clowns are either too stupid to hold public office or the new poster boys for UNINTENDED CONSEQUENCES.

For all the pain they have caused with their idiocy, these alleged “leaders” should be hauled into a courtroom and tried. If found guilty, I think public hangings are in order.

Bin Laden and his ilk have long sought to bring this country down economically. With that job now done by Frank, Dodd, Reid, Carter, Clinton, et al, the Islamofascists can now devote themselves to full time bomb building.

And for those who think I exaggerate, here is some of the rare wisdom offered by a former President:

“At what point shall we expect the approach of danger? By what means shall we fortify against it? Shall we expect some transatlantic giant to step the ocean and crush us at one blow? Never! All the armies of Europe, Asia and Africa combined with all the treasure of the earth (our own excepted) in their military chest, with a Bonaparte for a commander, could not take a drink from the Ohio or make a track on the Blue Ridge in a trial of a thousand years.
“At what point, then, is the approach of danger to be expected? I answer, if it ever reach us it must spring up amongst us; it cannot come from abroad. If destruction be our lot we must ourselves be its author and finisher. As a nation of freemen, we must live through all time, or die by suicide.”
Abraham Lincoln, 1837

[FrankR]

Why Dodd and Bawny Fwanks are not being brought up on charges of high crimes and treason, I'll never know.

These two crooks are a major part of our financial meltdown, and they're looking at putting them in charge of "oversight"?

Yes, the Gov of Illinois was trying to grease his pan with a senatorial appointment, but Dodd and Fwanks were underminding the entire financial system of this country...and they walk scott free.

I think Fitzgerald should focus on these two clowns a little too.