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Congress Screws Up Its Oversight Role Yet Again

Jimmie | December 15, 2008 | Comments (2)

This is not a promising proof of the ability of Congressional Democrats to oversee the massive financial market bailout plan, like they said they could. Congress wanted to guarantee that the $700 billion financial bailout would limit the eye-popping pay of Wall Street executives, so lawmakers included a mechanism for reviewing executive compensation and penalizing [...]

President-Elect Hypocrite

Jimmie | November 13, 2008 | Comments (7)

Wow, talk about “do as I say, not as I do” . WASHINGTON — Want a top job in the Obama administration? Only pack rats need apply, preferably those not packing controversy. A seven-page questionnaire being sent by the office of President-elect Barack Obama to those seeking cabinet and other high-ranking posts may be the [...]

Congress to Hold Hearings on Fannie Mae and Freddie Mac…Two Weeks After the Election

Jimmie | October 20, 2008 | Comments (0)

My, how convenient. Democrats are giving Republicans the hearing they’ve been demanding to dig into the failures of Fannie Mae and Freddie Mac, but it won’t happen until after the election. House Oversight and Government Reform Chairman Henry Waxman (D-Calif.) Monday announced that he will hold a hearing into the collapse of the mortgage giants [...]

We’re Investigating the Wrong Crooks

Jimmie | October 18, 2008 | Comments (0)

The US Government has put three investigators on the collapse of Lehman Brothers, the one failing financial company the Federal government chose not to bail out. Subpoenas are flying and I do not doubt that in a year or so, the likes of Chris Dodd and Barney Frank, will praise the conviction of some hapless [...]

Chris Dodd’s Sanctimony Show

Jimmie | October 16, 2008 | Comments (1)

Well, if John McCain won’t take a 2×4 to the Democrats over the mortgage mess, the Wall Street Journal will: The late Senator Russell Long used to say that the core truth of tax policy was “Don’t tax you, don’t tax me, tax the fellow behind the tree.” Substitute political blame for the financial meltdown [...]

“Wheeeeeee!”, Said the Stock Market

Jimmie | October 13, 2008 | Comments (1)

Today was one heck of a ride for the financial markets as the Dow set a record for a one-day increase, nearly doubling the former record. I swear, watching the tote board rise on CNN as I was sitting in a restaurant waiting for dinner to arrive, I thought we’d hit 1000. As it was, [...]

Make Dodd Testify

Jimmie | October 10, 2008 | Comments (1)

The Wall Street Journal today says that Congress needs to get Chris Dodd under oath about the sweetheart deals he got from Countrywide Mortgage and the influence they had on his dealings with Fannie Mae and Freddie Mac, Countrywide’s biggest benefactors. It seems that someone has the good on him and the WSJ thinks it’s [...]

How to Handle the Mortgage Mess? Do the Right Thing.

Jimmie | October 9, 2008 | Comments (9)

The more I think about the mortgage crisis and the outright socialist solutions coming from both Democrats and Republicans, the more I think of this question asked in Tuesday night’s debate: Since World War II, we have never been asked to sacrifice anything to help our country, except the blood of our heroic men and [...]