I posted previously concerning our current sad economic predicament, in which Neal Boortz spelled out concisely what had happened and when, as well as who were the parties most responsible for the mess we now find ourselves in.
Rep. Barney Frank (D – Massachusetts), former chairman of the House Financial Services Committee, who was once quite literally swapping spit with Herb Moses (a senior executive at Fannie Mae) figures rather prominently in the bursting of the housing bubble – as well as the severe economic and financial downturn that came with it.
During the GOP debate held in New Hampshire the other night, former Speaker of the House Newt Gingrich, one of the GOP hopefuls seeking to become the party’s presidential nominee, was asked a question about the Occupy Wall Street protests that have broken out in many cities across America in recent days.
This is part of what he said in his answer:
If you want to put people in jail, you ought to start with Barney Frank and Chris Dodd.
Strong stuff, right? But Newt nailed it exactly.
Of course, Bawney Fwank was not all that happy with the former Speaker having pointed out his duplicity in our current recession (dems never are when they are caught with their hand in the cookie jar) and released the following response:
As to the facts, the Republicans — part of the time under Newt Gingrich — ran Congress from 1995 until 2006, the period during which the financial crisis began and then rose to disastrous proportions. Chris Dodd and I were in the minority during that time, and in fact, no remedial action was taken by Congress until we became chairmen of our respective committees in 2007 and 2008.
Apparently, Newt Gingrich — who considers himself one of the intellectual leaders of the free world — is so embarrassed by the fact that he is running behind Michele Bachmann in Republican polls that it has increased his already well-developed propensity to utter outlandish things.
Outlandish, he says?
Rep. Frank can spin this until he falls down drunk, but there is no way he will ever be able to make this go away:
I hold these people primarily responsible for the destruction of my over twenty-five year career that ended in June of 2007. I had spent those years in an industry very closely related to, and very dependent on, commercial and residential real estate.
I have watched as many of my friends and former associates have literally lost everything they had worked for as unemployment insurance, or whatever meager employment they were able to find, failed to generate enough income to prevent it from happening.
And it has not been just people in my industry, but millions of people across this country who are now in similar circumstances – all because of a still deepening recession that did not have to happen, or could have at least been blunted had certain things been done in time.
These arrogant, corrupt politicians bear the brunt of responsibility for a chain of events that is still playing out today, and that could yet plunge this planet into another global depression.
I do not think it the least bit outlandish to suggest those most responsible be held to account.