Monday, September 22, 2008

Finger Pointing For Today's Financial Mess

Fun stuff. So begins the finger pointing. Got to admire the people that are doing what they can to find reasonable solutions to this mess.

I'm no expert: something needs to be done, but giving non-elected individuals unregulated control of $700,000,000,000 at any one time certainly doesn't sound like a good solution to me. That is $700 billion in taxpayer dollars. Make the corporate idiots which made the irresponsible choices pay for their mess, not Joe Taxpayer.

The finger pointing seems to be centered on a bill back in 2005 which never became law. Instead of pointing you to people's opinions, how about information from the good ol' Library of Congress. There's a lot to sift through here..

References to the Federal Housing Enterprise Regulatory Reform Act of 2005 in the Congressional Register

House Of Representatives Bill Summary & Status File

Senate Bill Summary & Status File

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