My "representative" Michael Burgess is calling for a special prosecutor to investigate those responsible for the financial crisis. Here's his editorial that appeared in our local paper today:
Michael Burgess Editorial in Denton Record Chronicle
Oh really? A special prosecutor?
Representative Burgess opines:
These bailouts and stimulus packages were written and passed quickly behind closed doors without the American public or members of Congress given the opportunity to read the legislation. This is evident by the AIG bonuses. The administration and Democratic congressional leaders have harshly criticized the bonuses, yet they are the same individuals who insisted that time was limited and we must pass the bailouts and economic rescues quickly.
emphasis mine
See, it's the Democrats' fault. No mention of the Patriot Act and how that one was crammed down the throats of congress who didn't have time to read it.
In the case of the bonuses, I am aware of two last-minute, behind-the-scenes dealings that may have ultimately disabled the federal government from preventing them.
First, a bipartisan amendment was successfully added to the stimulus package that would penalize companies receiving bailout money who pay large bonuses to executives. However, that provision was stripped out during final negotiations.
Secondly, it has been stated that Sen. Chris Dodd, chairman of the Senate Banking Committee, successfully inserted language exempting AIG from the aforementioned provision regulating bonuses at companies receiving bailout money. Sen. Dodd, however, claims the Treasury Department requested the AIG exemption.
I want to know why the provision was included in the first place, regardless of whose idea it was.
emphasis mine
We must place the blame on specific Democrats. Chris Dodd, yes he's the one responsible for the entire house of cards tumbling down.
Politics aside, it raises serious questions about the behind-the-scenes negotiations that took place. What other “deals” are being made that Americans will only discover when the chance for a remedy has passed? This is exactly why I am calling for the administration to appoint an independent special prosecuto
Back room behind the scene deals? Gimme a break. How about Dick Cheney and his super secret meeting with the oil barons? How about Jack Abramoff and Tom Delay's behind the scene dealings? The GOP makes the mafia look like the Boy Scouts.
Here's my response:
After 8 years of Bush administration crimes, including torture, illegal spying on Americans, taking America to war under false pretenses, losing $10 billion dollars of cash in Iraq----suddenly Representative Burgess is calling for a special prosecutor to investigate who is responsible for this economic crisis?
Mr. Burgess claims "politics aside", that he just wants to get to the truth--when it is obvious he is riding a political wave of populist outrage.
It was his own party and their ideology of free markets and unregulated capitalism that got us into this mess in the first place. It was his party that refused to regulate the banks and Wall Street; refused to hold hearings or conduct any congressional oversight during the 8 years Bush was in office and the 6 years Republicans were in the majority. It is his own party whose pathological antipathy for government caused this catastrophe.
Economists, Wall Street whistle blowers, even many bloggers were warning, years ago about the subprime mortgage frenzy as well as credit default swaps, collateralized debt obligations, and other questionable schemes that financial institutions were engaged in. But the Bush administration refused to do anything about it.
Representative Burgess, we don't need a special prosecutor. Had you done your job of congressional oversight, we would not be in this recession.
Hopefully, Congress, under this new administration will expose those responsible through appropriate congressional hearings and hold them accountable.
Regarding a special prosecutor, how about one to investigate the Bush administration for torture?
I wanted to add: Why didn't you investigate the fact that the Vice President shot a man in the face and didn't report it for 24 hours? Why didn't you investigate the Federal Government's (under the Bush Administration) criminal neglect of New Orleans? Alas. I had to stick to the 250 word limit.
Looking at his voting record, Representative Burgess votes almost 99% with is party. He's a physician and voted against SCHIP!
Yet another Republican from the same gene pool as Michelle Bachman.