In the fall, when the scope of the financial meltdown was made manifest to the American people, various conservatives pundits, bloggers and even some mainstream journalists reminded us how reluctant leading Democrats had been of regulating Fannie Mae and Freddie Mac, the government-sponsored enterprises (GSE), at the heart of the mess?
While those Democrats, led by House Financial Services Committee Chairman Barney Frank, decried Republican deregulation as the cause of the meltdown, they ignored their own past efforts (successful, I might add) to block Republican legislation increasing the regulations on and providing additional oversight over the GSEs.
Today, Michelle Malkin asks a question related to the Democratic defense of those quasi-public enterprises, well, now I guess they’re fully public since the federal government took them over last fall.Â She has “no problem with limiting the executive pay and bonuses of corporations that take billions in taxpayer-funded bailout money,” and asks:
Where are the limits on Fannie and Freddie corruptocrats’ executive pay? Have those been passed yet? Are they equal to the limits on private executives’ pay?
Why, I wonder, isn’t Barney as eager to regulate the pay of Fannie and Freddie executives?Â Is it that he has a higher regard for government employees than he does for those in the private sector?Â Or might there again be further conflicts of interest?
(H/t:Â Reader Peter Hughes)