Blog fav Thomas Sowell is one of our nation's most prominent economists and a conscience to the nation. In his latest piece, Frankly Ruthless he lays out the problem of abuse so rampant amongst our current Congress: "Among others who have been at the heart of the risky lending behind the financial meltdown are Fannie Mae and Freddie Mac, whom Congressman Barney Frank has also championed and protected. When federal regulators uncovered irregularities in Fannie Mae’s accounting, and in 2004 issued what Barron’s magazine called “a blistering 211-page report,” Barney Frank lashed out — not at Fannie Mae, but at the regulators who uncovered Fannie Mae’s misdeeds. He said “a leadership change” in the regulatory agency was “overdue.”Didn't I see this scene in one of those Robin Hood movies? I believe so, but the french speaking English nobleman and traitor was as sharp as a whip, and he didn't speak with a lisp.
Politicians who say we need more regulation almost never mean regulation in the sense of impartially enforcing explicit rules, such as the accounting rules that Fannie Mae was violating to cover up its own risks. They mean regulation with arbitrary powers, such as those under the Community Reinvestment Act, which enable regulators to carry out the agendas that politicians give them."
People like Frank have undermined our nations Democracy for years. It is well past time they are called on their abuses and sent out of office. Here's hoping the people of Massachusetts will move to save the country.
Great piece, Tommy. Go Sean Bielat!
Hi James, I agree. I dont know what our chances are of getting Mr. Man out. But if Frank goes next week, it'll be a good day to celebrate. I like Sowell.
ReplyDeleteI hope all has been well. I get to see my family in a few days so I am excited. I miss my daughter so.
Hey Coco. I've seen you guys ripping it over there. Wow, it just rolls and rolls. You guys are over 16K hits already! I enjoyed your post regarding the Guardian's take on Palestinians, and the Jewish settler's apparent dislike of olives. For a report on a group that is well known to be media conscious, where the Palestinians are always playing to the camera's and often times staging their own tragedies, any reporter with a touch of cynicism would be careful of overt attempts at manipulation, but the Palestinian's is a cause worth celebrating, so we never look too hard at the facts at hand.
ReplyDeleteMy guess, her Hezbollah neighbors knew the Guardian reporter was coming through the area, so they took an axe to the old ladies trees to give her a good conversation topic. If she can prove it wasn't so, I'm ready to hear it. If not, save the tears for someone who doesn't think poorly of rocket bombing one's neighbors.
That's great that you will get to see you family. It's funny how different the world seems when they are around.
Good on ya, Coco.