Thursday, January 8, 2009

Financial SERVICES? Committee


Do you know what Congress' Financial Services Committee is?

Technically is is called The House Committee on Financial Services.

From its own web page (http://financialservices.house.gov/jurisdiction.html):

Financial Services Committee

The Committee oversees all components of the nation’s housing and financial services sectors including banking, insurance, real estate, public and assisted housing, and securities. The Committee continually reviews the laws and programs relating to the U.S. Department of Housing and Urban Development, the Federal Reserve Bank, the Federal Deposit Insurance Corporation, Fannie Mae and Freddie Mac, and international development and finance agencies such as the World Bank and the International Monetary Fund. The Committee also ensures enforcement of housing and consumer protection laws such as the U.S. Housing Act, the Truth In Lending Act, the Housing and Community Development Act, the Fair Credit Reporting Act, the Real Estate Settlement Procedures Act, the Community Reinvestment Act, and financial privacy laws.


So their job is to make sure that the nation’s housing and financial services sectors including banking, insurance, real estate, public and assisted housing, and securities are working right.

That's their job.

It's their responsibility.

It says so right there in their own document.

So if something goes wrong with the nation’s housing and financial services sectors including banking, insurance, real estate, public and assisted housing, and securities, who's responsibility is it?

Do you have a guess?

Well, do you also have a guess as to who is the "Honorable" Chairperson of that committee.

Did you guess, Barney Frank?

Give yourself a gold star.

Yes, it's the same Barney Frank who assured us, when questioned about the viability of Fannie Mae and Freddie Mac by the Bush Administration, that they were in good shape and needed no additional federal regulation.

The same Barney Frank who is now whining that there was not enough government regulation over those two entities.

Are there any of you "libs" out there who are stupid enough to believe that you can explain that contradiction away?

Did you even know (or care) that the financial health of such a large portion of our nation's economy was in the hands of the House Committee on Financial Services?

Is it your opinion that by parcing words, using side-stepping language, ignoring the committee's commission and what ever other means you might try, you can absolve the committee of its responsibility and lay the current economic woes at the feet of President Bush?

But absolved it has been, because not one person on the committee has been, is being or ever will be held responsible for having failed to do his/her job, let alone for any criminal behavior that might (or might not) have taken place.

4 comments:

shoprat said...

Barney Frank is a living testimony to the value of term limits.

Joe said...

Shoprat: Amen, amen and amen!!

Tapline said...

JOe,,,,I think shoprat has the right Idea...But I'll go further and say fire the whole bunch. They no longer work for us nor do they listen to us even our president does not listen to closely. seee bailout and more bailout and more bailout and now more bailout by way of economic stimulus....nice.......who do they consult before making these brillant decisions certainly not the people nor anyone who has anything to do with economics. my God....what a way to run a railroad....stay well.....

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