Fix the blame not fix the problem Congress but look in the mirror first…………………….
By Daniel at 28 January, 2010, 9:20 am
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When you look at these pathetic intellectual light weights in Congress question a knowledgeable professional it shows why our gov is not working. They posture themselves as such high and mighty overseers POST FACTO in such lofty ways stumbling all the way.
Where were they when they were supposed to be overseers of all the gov organizations who failed to do their job? We all know the answer; taking bribes and reelection contributions from lobbyists to look the other way.
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WASHINGTON—U.S. lawmakers blasted decisions that allowed American International Group Inc.’s major trading partners to make out with billions, as the architects of the government’s 2008 response to the financial crisis defended their actions.
“In effect, the taxpayers were propping up the hollow shell of AIG by stuffing it with money, and the rest of Wall Street came by and looted the corpse,” Rep. Edolphus Towns (D, N.Y.) said in opening remarks before a standing-room only crowd in a Capitol Hill hearing room on Wednesday.
Rep. Darrell Issa (R, Calif.) said he has “lost confidence” in Treasury Secretary Timothy Geithner, who was head of the Federal Reserve Bank of New York when the government made the controversial decision to rescue AIG, in part by paying the insurer’s counterparties a total of $62 billion to tear up troubled insurance contracts, at the height of the financial crisis.
The Congressfools make it appear that they had nothing to do with it. It was all Geithner’s idea. They had no idea what was going on. First, they lie. Second, even if it were true, they aren’t doing their jobs. In another AP article, the writer dwelled on the fact that Geithner denies that he knew hundreds of billions of dollars were going to the big banks. The Congressfools accused him of a coverup. But the truth is that EVERYONE knew that’s where the money was going. It was public knowledge. Heck, that was the whole purpose of bailing them out–to prevent AIG’s default from taking down the banks. Any Congressfool who points the finger to Geithner on that is simply admitting his own failure to do his job, as well has his own ignorance of the issues.
- Bob Sutton
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