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OK, so she's calling for an investigation into the Fannie, Freddie, Lehman and AIG execs. I have no problem with that. They can get together with the FBI who is already investigating them. But you and I both know that any such investigation will be stonewalled because all of it leads right back to Congress and the high-level buddies of members of Congress. Nothing's ever going to come of it.
And she wants better regulation of mortgage lenders and holders of mortgage paper. Personally, I think that the best way to deal with this is to get rid of Fannie and Freddie all together. They were never needed, and the implicit government guarantee that they represent is what gave the bankers justification for these bad loans. And we need to get rid of Community Reinvestment Act as well, which just forces banks to make bad loans to poor people against their wishes. Getting rid of the sources of the problem is the best way to keep the problem from happening again. However, all of that is for the future. But what is her plan to deal with the situation as it is NOW? How do we keep banks from collapsing and taking the retirement savings and personal funds of Americans with them when they go? I don't see a PLAN here. I see a frustrated rant against Wall Street Execs. Perhaps that rant is justifiable. But it certainly does not constitute a plan of action to save the economy. Elliot |
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of course she is on the list of recipients of the beneficiaries of largess from Fannie Mae. Why Did the Nancy-State Government Bail Out Fannie Mae and Freddie Mac? « Doctor Bulldog & Ronin I call on Marcy to return the $4,350 in donations. Congressional Quarterly ranked Kaptur seventh in the House in placing earmarks in bills. That's out of 435 members of the House . The average Democrat lawmaker is credited with $10.3 million of earmarks but she introduced 48 earmarks with a total value of about $65 million last year. Taxpayers for Common Sense at taxpayer.net -- the Register found 64 earmarks with Kaptur's name on them. She got earmarks for some companies whose executives have handed over campaign contributions. For example, Kaptur won $4 million for Impact Engineering of Virginia. Records show that Michael Cummins, president of Impact, donated $3,500 to Kaptur's campaigns from 2004 through 2006. Does she not realize that she is a big part of the problem ? |
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