Waxman Holds No Hearings on Freddie and Fannie
When I learned that my Congressman Henry Waxman, Chairman of the House Oversight and Government Reform Committee, was holding hearings this week on Lehman Brothers and AIG, I decided to call his office to see if he was looking into problems at Fannie Mae and Freddie Mac.
His aide, incredibly helpful and polite, told me that his committee has “jurisdiction over anything in the federal government.” Fannie and Freddie are government-sponsored enterprises (GSEs). But, since Waxman took over the committee in 2007, he has not held a single hearing into their meltdown. Not one.
Politely, I asked his aide to tell the Congressman that this was a “gross dereliction of duty.” It seems that for Henry Waxman, the only problems in this country are private enterprise and Republicans.
Fannie and Freddie were among the first to fall. They’ve been having problems for years. And the Democratic Chairman of the House Oversight Committeee has yet to look into their role in the current financial mess.
UPDATE: I wonder if it came out in Waxman’s hearings that Obama raised more money from Lehman employees than any other Senator save Hillary Clinton.
UP-UPDATE:Â Waxman may want to dodge the issue, but at least one Republican, Connecticut’s Chris Shays wants to look into the GSEs shenanigans:
Republican Rep. Chris Shays called for hearings on the role of mortgage giants Fannie Mae and Freddie Mac in the financial crisis Monday, accusing the two mortgage companies of “wretched manipulation†of Congress.
“We are not confronting the 800 pound gorilla in room…the role of Fannie and Freddie in this debacle,†said Shays at a congressional hearing on the financial crisis.
Shays wondered why Democrats will target Wall Street firms during their planned set of hearings, but not Fannie and Freddie, who he said offered the type of subprime loans that helped trigger the crisis.
(Via Jennifer Rubin).
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I saw clips from that hearing, and thought it was ridiculous, but predictable, that Waxman was telling the guy from Lehman that he wasn’t taking any responsibility for the collapse. So far I haven’t seen anyone in Congress take any responsibility for the collapse of Fannie and Freddie. Once I saw that Lehman was going to be the first company lambasted by the idiot squad, I knew that the crisis was now totally political and that no real solution was in the offing.
Comment by Hunter — October 6, 2008 @ 6:43 pm - October 6, 2008
This is a sign of only one thing: Democrats are chest -deep in the Fannie/Freddie scandal, and Waxman knows it.
Sort of like how Waxman has been silent on the revelation that Pelosi’s PAC is paying her husband — after demanding hearings and investigations into Republicans allegedly doing the same thing two years ago.
Comment by North Dallas Thirty — October 6, 2008 @ 7:07 pm - October 6, 2008
Isn’t Waxman the one with the huge nostrils?
Regards,
Peter H.
Comment by Peter Hughes — October 6, 2008 @ 7:28 pm - October 6, 2008
I dunno about the nostrils, but he has huge eyebrows
Comment by Hunter — October 6, 2008 @ 7:38 pm - October 6, 2008
I sure hope I’m wrong - but - it seems as if McCain is cooked. Just too much running against him. When you’ve got Congress, the economy, and the press on the other side…. even a Maverick may not be able to withstand it all.
Comment by Peg — October 6, 2008 @ 8:08 pm - October 6, 2008
peg that is why we need to be calling for mccain and get people to open their eyes and ears to the liar obama is. We as americans will have no money no rights.
Comment by Lisa — October 6, 2008 @ 9:30 pm - October 6, 2008
Corrupt scandal enabler Barney Frank calls critics “racists”.
http://www.breitbart.com/article.php?id=D93LAKT01&show_article=1
Comment by Gene in Pennsylvania — October 6, 2008 @ 9:50 pm - October 6, 2008
#7: I saw that too, Gene. Vile. Disgusting. Shameless. Apparently, you don’t even have to be black to play the race card anymore–just a liberal.
That’s right, Barney! That’s what Republicans are upset about–poor minorities buying houses. We just can’t STAND the idea of anyone with darker skin than us living on the same street.
The complete disdain of fiduciary prudence? The arrogant refusal to acknowledge the coming financial storm when something could have been done? The unbelievable accusations of racism against half the electorate after unilaterally taking away $700 billion of our money to fix the mess? We LOOOOOVE all of that. Keep it comin’, Barney! If you need another $700 billion, you just let us know, alright? Just don’t let any black people move into our neighborhood, ok?
I’m glad the election is less than 30 days away because I don’t know how much more I can take of the MSM without a break. This was just casually reported like some legitimate, productive, useful comment made by one of our respected, tireless legislators (versus the self-serving, CYA weasel we all know him to be). I’ve had it–the MSM cares more about Palin’s relationship with her tanning bed than they do about Obama’s relationship with Ayers. Sorry to be a downer this evening, but it’s so depressing.
Comment by Sean A — October 6, 2008 @ 10:36 pm - October 6, 2008
Anyone supporting McCain:
It is very important that you don’t get disheartened or despair about his prospects to get elected.
Obama and the media know that when you demoralize a voting bloc, the voting bloc doesn’t show up to vote.
You can be certain that all the bad news in the press about MCCain’s level of support is designed to get you to stay home.
Do not fall for their tricks
Comment by Vince P — October 7, 2008 @ 12:11 am - October 7, 2008
Lisa - I couldn’t agree more. And - I’m doing it! I hope all of us can make a difference.
Only saying that it is one tough struggle. I cannot believe I was arguing with my father, who has voted Republican in most presidential elections, to NOT vote for Obama! Unfortunately, my folks buy the MSM tale, hook, line and sinker.
Comment by Peg — October 7, 2008 @ 12:12 am - October 7, 2008
I made unkind remarks about Bill O’Reilly before reading this post. Bill simply does what these congressional committees do: perform on a stage where blowhards and idiots can punch at “witnesses”. There is no effort at all to elicit any useful information.
It’s long been a fantasy of mine that one of these “witnesses” just stand up during one of these interrogations and say “Mr. Chariman, with all due respect, why don’t you just go f— yourself?”.
// I suppose that I should consider myself lucky: living in a S. California GOP district.
Comment by SoCalRobert — October 7, 2008 @ 12:49 am - October 7, 2008
[...] Waxman Holds No Hearings on Freddie and Fannie [...]
Pingback by GayPatriot » Why Won’t Democrats Investigate Fannie and Freddie? — October 7, 2008 @ 3:18 pm - October 7, 2008
Vince is right. It’s easy to get disheartened, but acquiescing to the shady work of Acorn, Barney Franks, Dodd, and Waxman, and the ham-fisted bias of media is too intolerable to contemplate. Besides, there’s way too much at stake. If McCain doesn’t win, the same people who got us into this mess will have unlimited political power.
Comment by edward_Bernays — October 7, 2008 @ 5:31 pm - October 7, 2008
Henry Waxman is a true American hero. He has more guts than most and always is trying to do what’s right for the american people. Fannie/Freddie, they’ll come in due time. Not sure why anyone would hope Repubs were in the majority. That’s why we’re in this mess to begin with.
Comment by Chris Pepper — October 7, 2008 @ 6:09 pm - October 7, 2008
Um, is that so, Chris? wanna defend your point with reference to the shenanigans at Fannie and Freddie? And if the GOP is responsible for the mess, why is Henry so unwilling to allow in records of past committee hearings as requested by Republicans?
Comment by GayPatriotWest — October 7, 2008 @ 6:24 pm - October 7, 2008
Unfortunately, I have to admit that you are correct…
……Waxman’s district in California is Beverly Hills. He is one of the most corrupt representatives ever sent from California.
When Los Angeles was trying to build a subway line, called the Ocean Line, underneath Santa Monica Blvd which would have been one of the few useful lines in the entire subway system. Waxmen and his racist friends in Beverly Hills put a stop to it. Waxmen threatened to cut the entire California transportation budget if the state went ahead and tried to build the subway line.
He symbolizes Corruption… but don’t forget, Bush is the KING of legalized corruption.
Take for instance Bush’s Paulsen, a former Goldman Sacks Alum, secretly giving them money and information, while allowing competitor Lehman Brothers to fail.
Or Haliburton… etc… etc…
In the Battle of corruption, Bush is still the WINNER!
Comment by Vance Decker — November 17, 2008 @ 12:41 pm - November 17, 2008
Bush is, Vance? Wanna provide some examples that make W that kind of ignominious King? Bone-headed on domestic policy he may be, but corrupt he is not.
Comment by GayPatriotWest — November 17, 2008 @ 12:44 pm - November 17, 2008
The beauty of George Bush, which he may never get proper credit for, as it probably wasn’t his idea, is the concept that:
“it’s not corruption, if you pass a law making it legal”
similar to George Castanza when he said:
“It’s not a lie, if you believe it”
—–
Here is one example of his corruption. What firm do you know of which has an open contract, by law, with the United States Government which allows it to do contract work without having to go through any sort of RFP Process or Competitive Bidding.
That’s Right, Haliburton.
Comment by Vance Decker — November 17, 2008 @ 12:48 pm - November 17, 2008