Your grief counselor
There is at least one point that where I disagree with Jim Angle : we had an opportunity to avoid this mess by never getting into it. There is no authority in the Constitution for Congress to authorize a Freddie Mac or Fannie Mae type entity. None at all. There is no authority in the Constitution for Congress to pass a Community Reinvestment Act. There is no authority in the Constitution for the President to sign such acts. We got into this mess by government doing what is was never allowed to do. This is like letting your three year old drive the SUV and shaking your head when he wrecks the Explorer. And then buying him a new one-with pedal extensions and GPS navigation!
Time and time again the government screws up big time then comes to the rescue with another band aid for cancer.
And why would we trust these people to come up with a solution?
That makes as much sense as having Ted Bundy be the grief counselor for his victim's family.
I now hear that the Dems in Congress want to punish the execs of Wall Street. Only after Chris Dodd and Barney Frank are frog walked off the floor of Congress. And after the execs of Fannie Mae and Freddie Mac share a cell with Bernie Ebbers.