Eisboch wrote:
With all the attention given to the financial meltdown in the media, I see a
lot of finger pointing and blame being directed at various people for the
lack of government regulation. Even McCain, this morning, acknowledged
that some level of regulation is required.

Here's what I don't get:

Congress has oversight responsibilities covering a broad range of areas.
Congress is also the legislative branch of the government, responsible for
drafting, proposing and instituting laws and/or changes as required. The
executive branch then enforces the approved laws.

Why don't we see any members of Congress responding to this financial crisis
with any form of proposed legislation?
I see them casting blame for the situation on either current or past
presidents, but I haven't heard of any of them .... Republican or Democrat
actually doing their job and taking action as required in their job/office
responsibilities.

EIsboch





Chris Dodd, for one, has been calling for and proposing legislation for
some time to get control of the mortgage crisis, but the Bush
administration/GOP opted for the "free markets" solution, e.g., do
nothing at all. It's been proven over and again that financial market
regulation is necessary. That former U.S. Senator from Texas, the McCain
economic adviser, got the deregulation of financial markets he wanted
back in the early 1990s. Now, of course, he works for those financial
corporations.

Call it...greed.