Financial Meltdown: Who Caused It?

The Financial Meltdown: Who Is To Blame?

Could it be OPEC?
Could it be ACORN?
Could it be WAXMAN?
Could it be?????

What we do know is that congress has been under the contraol of the Dems since the 2002 election. In that amount of time things have gone from worse to worser (pardon the word). But the fact is that all the finger-pointing going on in the Senate and the House fails to point to those who should have taken their fingers out of the pie.
Waxman has finally been pressured to hold hearings. As we have seen this week everyone blames someone other than their department or their committee. From banks to Bernake it is the same story – someone other than me did this! Fannie and Freddie were not my responsibility.

Mr. Waxman insisted his reluctance to call a hearing stemmed from civic mindedness. "I don't think we ought to use these hearings to be partisan," he told the committee earlier this month.

Who knew that Senator Barack Obama was the largest single recipient of Fannie Mae campaign contributions over the last 20 years, save for Senate Banking Committee Chairman Chris Dodd? More amazing still, Mr. Obama pulled off this feat even though he had only been in the Senate for four of those 20 years.

Did OPEC cause it?
Skyrocketing oil prices put pressure on the economy. The OPEC members siad they didn’t have anything to do with it. “It’s the traders!” they screamed. Who are these mysterious traders and who do they work for? No one seems willing to answer this question.

And another thing – those subprime mortgages – bundled and traded with ever-expanding costs tacked on, who got that money? If ACORN pushed congress and committees into those financial bombs we have to ask why? Who benefited? It wasn’t the person purchasing their first home.

Will WAXMAN really look for answers who hold the party line and cover butts? It seems a sure bet considering the congresspeople involved. And when will any serious investigation take place if ever? Not until January, well after elections, and by republicans if they should regain the Senate (not going to happen).