Harry Reid's Full Of @#$$

ABC News' Z. Byron Wolf reports from Capitol Hill: Don't look for any legislation in the near future to address the financial crisis.

Senate Majority Leader Harry Reid, asked today what new regulatory actions Congress can take, said, bluntly, "No one knows what to do. We are in new territory here. This is a different game. We're not here playing soccer, basketball or football, this is a new game and we're going to have to figure out how to do it."

A Reid spokesman said neither Treasury Secretary Paulson nor Fed Chairman Ben Bernanke offered up any suggestions for new regulatory legislation when they met with Reid in the Capitol building Tuesday night, either.

In the short run, Democrats are trying to push through a second stimulus package with funding for infrastructure improvements, renewable energy tax credits and other things. But all agree it will be up to the next President and Congress to do any re-regulation.

Ok, so "no one knows what to do", but he and Nancy Pelosi is damned sure that it's the Bush administration's fault.  So, anyone with half a brain cell knows that Nancy and her ilk are just trying to play upon the feelings of Americans in a financial pinch, instead of appealing to the facts.

But the senate majority leader said, "the good intentions of these two decent men cannot escape the reality that the Bush administration's willful of oversight and zealous embrace of big business is responsible for the crisis we now face."

Yep, had nothing to do with the bad business decisions of the people who were running the companies, it's all Bush's fault!  Jeez people, do any of you think before you speak, or all you just above a retarded monkey?

Reid went through a litany of bankruptcy protection bills aimed at shielding consumers rather than corporations that he said Republicans had blocked. With more protections for consumers and if the Bush administration had more zealously, or at all, policed the markets with the regulatory tools at their disposal, he wondered if the financial crisis would be happening at all.

But, check out this little jewel.

I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole.

John McCain said that in 2005, LONG before Democrats took power in Congress, so if he was warning about it then, who do you suppose is to blame here if you want to point fingers?  It shows you how people have been blinded by hype by people like Obama about financial responsibility.  McCain knew there was trouble in 2005, yet no one did a thing about it.  Even the writer of the article is noticing that Harry Reid's full of shit.

And he seemed to forget how he voted on a now-controversial bill that largely de-regulated the financial services industry in 1999. It was written by Sen. Phil Gramm of Texas, who has since retired and is a McCain economic adviser. And Democrats, including Reid, opposed the bill when it first passed the Senate with 54 votes.

 

Travis

travis@rightwinglunatic.com