The Deal and the Do Nothing Congress

Trying to digest the bail out deal. On its face, it seems adequate.

However, one of the problems in this whole deal, it how the congressional leaders (Nancy Pelosi, Barney Frank, Harry Reid, Chris Dodd, et al) come out like they are saving the country while blaming the Bush administration. Meanwhile, totally ignoring their role in this whole mess.

Congress has oversight over Frannie and Freddie not the administration. It is Congress' job to monitor them; and, Congress turned their eyes away from the impending problem. It was not like that they were not warned. Alan Greenspan told them about it over two years ago. McCain even introduced a bill to correct the problem. Congress did nothing. Not only did they not do anything, they encouraged Frannie and Freddie continue and escalate their practices.

Now, as I have said before, there is plenty of blame to go around, including the current and past administrations. But, the fact that the democratically led "do nothing Congress" are trying to ride in on their white horses to save the day and take credit for everything is ridiculous! However, this is how they have acted for the two years that they have had control.

Flap their lips, but do nothing.