I am shocked - SHOCKED! - to see that Washington is busily casting blame on Wall Street for all of our current financial woes while ignoring the massive evidence of corruption inside the sacred chambers of Congress. Exhibit A -
Chris Dodd:Former Lehman Brothers CEO Dick Fuld was under oath Monday when he was grilled on Capitol Hill about his role in the current financial meltdown. But if Members really want to understand the credit mania, they should also call Chris Dodd.
The Connecticut Senator has been out front denouncing the "companies that form the foundation of our financial markets," for "their insatiable appetite for risk." He has also decried "reckless, careless and sometimes unscrupulous actors in the mortgage lending industry" and he has proclaimed that "American taxpayers deserve to know how we arrived at this moment." To that end, we propose he take the stand -- under oath.
Former Countrywide Financial loan officer Robert Feinberg says Mr. Dodd knowingly saved thousands of dollars on his refinancing of two properties in 2003 as part of a special program the California mortgage company had for the influential. He also says he has internal company documents that prove Mr. Dodd knew he was getting preferential treatment as a friend of Angelo Mozilo, Countrywide's then-CEO.
Read the whole editorial, then contact your senators to see just how interested they are in getting to the bottom of this mess. I'm inclined to believe that in Dodd's case (as well as some others - see Exhibit B: Barney Frank), this isn't a case of "where there's smoke there's fire," it's a case of YOU'RE ON FREAKING FIRE, MAN!