Shameful—Congress refuses hearings on Freddie Mac and Fannie Mae

During the Presidential Debate at Belmont University (Tenn.), Sen. John McCain (R-Ariz.) called Fannie Mae and Freddie Mac the “catalyst” for the economic meltdown. It’s my opinion McCain is right and Congress is abandoning its duty in investigating these Government Sponsored Enterprises (GSEs). I believe Congress is doing that purely for political purposes—otherwise why would they start hearings with corporations before cleaning up the US government body that created this problem in the first place? And not much has changed; it's amazing lenders haven't learned a thing. Watch the video at the end of this post and a light bulb should go off in even the most basic brains.

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Fey as Palin doesn't come close to hilarious SNL bailout skit

**See followup below. Apparently SNL bowed to liberal pressures to take down the video satirizing Democratic members of Congress and President George W. Bush. So much for liberal support for freedom of speech. Now you see why I am so critical of Democratic supporters about that issue. They only believe in freedom of speech if it's beneficial to them. ***

On Saturday Night Live yesterday, Tina Fey did her Sarah Palin, but it really wasn't very funny; SNL writers missed so many opportunities to skewer Joe Biden in the Vice Presidential Debate skit. The Palin-Biden skit just wasn't well-written.  But where the writers zinged it was in the bailout video, the one we should all be talking about. Frankly, I've tried hard to find a person facing foreclosure. I've quizzed people in the grocery, at the gas pumps, and just the other day at the ATM where I finally struck gold. The woman I was chatting with told me she did know a couple who'd had to file bankruptcy because of their mortgage.

"I'm sorry to hear that," I said. "Did they get to keep their home?"

"No! They're buying another one for about $300,000," she said, adding that she was shocked.

On Friday I received a newsletter from my bank. The header to one story said, "Fannie Mae Offers Solutions for 'Underwater' Home Loans." 'Underwater' is bankspeak for a mortgage that exceeds the value of  the property. The bank is now offering those with a Fannie Mae-backed mortgage a new program that allows borrowers to refinance up to 120 percent of the property's current value. Do you think maybe this is what Gov. Sarah Palin was brave enough to allude to in her debate response when she said the word, 'responsibility?" She is the only politician I've heard who's even mentioned this.

The SNL video is hilarious. The show rarely comes close to its glory days, but this video skewering Nancy Pelosi, Barney Frank and President George W. Bush makes me remember what a cutting edge show once did. As for Fey, she's gotten tiresome. Maybe she could think about doing Sen. Robert Byrd? All she'd have to do is put on a white wig and fall asleep on the Senate floor while she's standing up there giving a speech.

Update on Tuesday, October 7, 2008 at 12:16AM by Kay B. Day, Editor

I've often said liberals want freedom of speech as long as they're slamming others they don't agree with.

Saturday Night Live has pulled the video that satirized Barney Frank, Nancy Pelosi, George Bush and George Soros.

Apparently, the show is relying on Fey's impression of Gov. Palin to carry them through.

I think it would be a great idea to write the sponsors of the show. I don't plan to buy a single product or service from anyone sponsoring SNL.

I'd do the same thing if the show bowed to conservative pressure. I'm kind of like that when it comes to freedom of speech.