An Open Letter to the Senate GOP
The Senate will be taking up the matter of the financial meltdown that has so gripped our nation for the last ten days or so. However, the Dow is up by almost 500 points today. Since the sun still rises and the sky hasn’t fallen it becomes apparent that the Democratic Party is prolonging this crisis for partisan advantage.
In approaching any solution, it must be made very clear that this is not a failing of the private sector or of free-market economics. Rather, it is a failing of good governance. It is a purposeful lack of oversight of Fannie Mae and Freddie Mac, by the Democratic Party, for the purposes of protection of these organizations to provide favors to favored constituencies, such as ACORN, and to cultivate sources of campaign cash. In short, this financial crisis is the direct result of rampant corruption.
This corruption must be fully exposed; and exposed immediately.
Further, any “rescue” must include an abolition of the Community Reinvestment Act and the abolition and complete liquidation of the respective assets of Fannie Mae and Freddie Mac. These vehicles of corruption must be eliminated. Or, at the very least votes must be forced on the abolition of these entities to force each Senator to make a stand.
Additionally, only what is necessary to allow credit markets to function is to be undertaken. No other tax dollars are to be used for any planned “rescue.”
Unlike the House, the GOP holds the votes insure that their concerns will be fully heard and incorporated into any “rescue” plan. This is no time for “reaching across the aisle.” This is a time to stand up for this country by exposing the corruption that lead to this mess.