Way to go Barnie and Chuckie

Beginning in 2001 the newly inaugurated President Bush and his administration began warning about problems with Fannie and Freddie.

In the 2002 budget request to Congress the problems with these institutions were noted and warnings issued.

In 2003 the administration was calling them systemic, and Treasury Secretary Snow pushed Congress to regulate them more. Massachusetts Barnie's response was, we are not in a crisis, we should be encouraging more [unqualified] poor families into buying homes.

In 2005 Fed. Chairman Greenspan said that problems with these institutions was putting the future financial system at risk. New York Chuckie defended Fannie and Freddie and said there was not a problem.

In 2006 John McCain introduced legislation to regulate these entities, and while it passed in Committee (all Republicans for, all Democrats against), it was not brought to the floor. Meanwhile, the Democrat friends heading these agencies are pulling down huge salaries and bonuses.

Today, of course, Democrats, in particular Pelosi, Reid, Frank and Schumer, blame Bush, Snow, Greenspan and everybody but themselves, taking no responsibility at all, in some of the boldest demagoguery in Congressional history.

Eventually, however, the political chickens will come home to roost. 2010 here we come!!!

See Fox News summary of this history from September 2008

Pork along Chuck

"Most Americans don't care about pork."

Au contraire, Senator Schumer. Pork is a symptom of political corruption. Pork shows partiality for some Americans over others. At a time of national economic turmoil when the Congress should be putting tax dollars where they will help, it should not be putting them where they won't, or advancing a liberal political agenda (such as gov't controlled health care) under cover of a needed stimulus bill. Meanwhile, the President rails against those who would delay this pork bill.

Instead of being the most transparently honest government in American history, this Congress and this administration is quickly shaping up as arrogant, demagogic, and transparently corrupt.

St. Scholastica pray for us!