Government Control of The Banking Industry
Just the name, Senator Dodd, makes me want to cringe. This man was partially responsible for the problems we originally had in the banking industry. He was the congressman who was the Chairman of the Banking Committee. He was the man who in front of Congress said, “Everything is fine in the Banking Industry and I see no problems”. Two or three months later all hell broke lose.
Now, this man, who has already announced his retirement, who is not running again in the mid-term elections because he knows he couldn’t win, is in charge of writing a NEW bill which will basically take government control of the Banking Industry. Is there not one shred of Common Sense in Congress?
Why would anyone let this loser, who screwed things up the first time around, who received special favors in mortgage financing from Countrywide, continue to Chair the Banking Committee? Since he is not running again it seems there is a no-holds barred attitude in the House. He is not the right person to be writing this bill.
Now, true the Ethics Committee investigated this guy and found him innocent of wrong doing in financing his homes, at a very cheap rate. Here is their decision; In a letter sent to Senator Dodd today, the Committee wrote that after deposing witnesses and poring over more than 18,000 pages of documents in a year-long investigation, it found “no substantial credible evidence as required by Committee rules that your Countrywide mortgages violated Senate ethics rules.” As you can see, Congress takes care of their own.
But it’s time we take care of Congress. The men who have been in Congress forever need to be replaced. As I have said many times, they were elected to represent their constituents, it was supposed to be a privilege and honor to do so, not a career move or lifetime job. So far not one of these men would be considered “lifetime employee material”.
It’s time to replace these incumbents with new blood, new thinking and based on Constitutional law. That is all I ask for, that our Congress upholds the law as written in the Constitution and not attempt to re-write it. ss