Look! Congress is Doing Something…

Holding another hearing as markets plummet day after day.

Senate Banking Committee hearing on AIG on now.

CNBC has it.

Here is what will happen. They’re furious, everyone is too blame (including Congress), and some CEO (or someone) should give back their bonuses (or something). But, if AIG collapses, the world will truly meltdown and we will all be living in Dubya Towns in the local park.

What should really happen? Richard Shelby (and Chuck Schumer) should be publicly flogged along with every Senator who opposed and worked against appropriate regulation of financial markets. AIG was allowed to be as stupid as they wanted to be because the GOP (and certain Democrats) has fought against regulations and sought to deregulate business and finance at our extreme peril.

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One Response to Look! Congress is Doing Something…

  1. Absent says:

    Please help me understand how the GOP contributed to AIG’s demise and the unrest in the world financial system (legislation, its key supporters + political affiliation, and voting by party would be perfect)! I work at a very very very very very strong GOP business and nearly all its employees worship the ground Sean Hannity walks on… I am constantly told its the democrats fault for pushing for affordable housing to the poor (CRA, Fannie, Freddie) as the sole cause of this mess. In reality I know it is why more complicated and that is why some any more information you could post on this blog entry would be awesome. Thanks! I visit site a couple times a week, really value your opinion.

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