What a Mess!

What a Mess

Yesterday brought news from the Securities and Exchange Commission (SEC) that surprised even me. One has to wonder what are they thinking: "Fannie, Freddie Ex-Officials Are Accused of Fraud."

For years we have heard the pros and cons of regulation, particularly since the financial meltdown in the fall of 2008 and more specifically regarding the fiscal health of our country and our economy. Add to that the campaign for the White House in less than a year and what do we see?

We see the SEC saying they do count and are important and that they missed nothing. We see trillions of our dollars used to bail out corporations both here and abroad. We see “too big to fail.” We see sweet compensation packages and bonuses going to those that created this mess, yet we do not see even one example of Sarbaines-Oxley prosecution, let alone conviction. Watch this from "60 Minutes."

The current "frontrunner" of Republican wannabes, Newt Gingrich, received over $1.6 Million from Freddie Mac for “history lessons,” not lobbying, over a period of years that happens to run right through the discovery of the mortgage debacle we are still deep in the throes of, while pointing his finger at others over regulation.

We have seen our (US) credit rating downgraded by Standard & Poors (a division of McGraw-Hill) — which in terms of timeliness is every bit as ridiculous as the SEC’s current charge — while we watch Congress embarrass us all on an international scale by the drama they produced this past summer over our debt and budget. Newt is busy signing books and videos for personal gain at all his public functions.

We have no energy policy, our public schools are a complete sham, our infrastructure is in critical need of repair and modernization, we’re shipping billions of our dollars overseas along with jobs and our middle class, banks hold record profits yet won’t lend, foreclosures are at a record pace, unemployment is stubbornly hanging at just under 10 percent and what are we treated to? We’re treated to the Greatest Show On Earth (forget about Ringling Brothers) from our elected representatives and regulators.

When I was a kid, I had pride in our country. Why? Because this was the best country on the planet. Why? Because we were a "Can Do" country. There was nothing that we couldn’t do...just try us, I dare you. Somewhere along the way, we lost our way. We lost our way to special interests - to money. Even the Supreme Court seems to be in the pocket of big business; how else can one explain their absolutely preposterous ruling earlier this year that corporations, as entities, can contribute whatever they like to politicians and campaigns. Who elects our elected officials, anyway; and who are they elected to represent?

Complete lack of accountability, from local to national, of our elected officials and the billions of dollars they receive (legally) from special interests have put us in a complete tailspin. We currently hold over $15 trillion in debt, and Newt, the thrice married (adulterer) poster child of our political problems is busy at every public appearance signing copies of his books and videos for personal financial gain.

What ever happened to morals, values, honesty, "git-R-done" attitude and hard work? How did we get here? Better yet, how do we get out of this mess and how long will it take? Better even than that is - where is the “leadership” going to come from to get us back on track as a nation? 

Looking around, I don’t see anyone that is qualified, capable and interested. Do you?

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