( – promoted by John Morgan)
…and it has been a frequent one for the Congress you’ve sat in for years now, especially in the last 6 or 8 of those years.
Congress has become infamous and gained an ugly notoreity for seemingly doing “nothing” as a means of governing.
Now, in the midst of the reality check that has been bouncing all over the place in the financial markets, because of doing “nothing” when you all should have done “something”, we are now left with a situation where “nothing” is exactly the “something” we all need.
The economic/financial sector of our country have played fast, loose, greedy, recklessly, and capriciously with their fortunes and the fortunes of millions. The consumers in our economy have by the droves bought into this set of credit and mortgage schemes, because we all love a “good deal”, and greed is no stranger to any walk of life.
You fusspots in Congress want to know what to do now, so that you all do “something” in this time of natural consequences taking their toll, and not a day too soon. I’ll tell ya what you all can do: Plan. Yes, starting planning and crafting a new incarnation of how American companies, financial companies, especially, and banks do business and what will pass muster and what will not. Show the lobbyists of the banking and financial industries to the door, shove them out of the discussions and lock the door behind you, save for some honest to goodness experts, who can truly help you all put some sensibility back into our American economy and global market in turn. I pray that some of those people still exist and that they are willing to truly help out. I’d offer my own input and views, but I am not a highly trained economist, just a thinking man and someone who gives a damn about where we go from here, not how we “bail out” Wall Street to keep the carnival going again.
Any plan that you all put forth that involves any amount of money MUST include integrated and carefully crafted regulation and oversight and regular reports and updates. Part of the larger problem of the mortgage crisis stems from the skyrocketing price of homes as compared with wages of average citizens and that is owed to both corporate greed among the top executives and out of control costs of building in most areas of the country. Sadly, local governments won’t do much to curtail the prices of homes, because for them it means more tax money and with Washington sending less money back to the states to help fund local needs through transfer payments, they have little choice but to take this course.
The credit card companies have become the loansharks with legal authority and they need to be reigned in hard and fast. Consumers need to be educated and held to account for their own role in the choices that helped to pave this road to hell with their intentions of “wanting it all” and not having the means to pay for it. Yet, I ask you, what are people supposed to do that need housing and for those people whom the government encouraged to have families and to take on home ownership and the programs you all passed to make that easier.
Members of Congress look to the deportment of your own bad deliberations, look to the welfare of your fellow citizens, and realize that what this is going to take will be far more than some high-priced “bail out” plan. So, do “nothing” when it comes the current belly-aching of Wall Street, but do plan and plan well “something” to begin the process of rebuilding America. The carnival is over, the tent needs to come down and it is time to return to the life left behind when this whole fiasco started and learn once more why you do not allow business and finance to operate in such a manner.