Wallstreet to Mainstreet

Having an inside view of Wallstreet, I can definitely say that there are shady dealings happening on a regular basis. The goal on the street is to SELL whatever it is to whomever will buy. Therefore it should be easy to blame the culture of Wallstreet for the current credit crisis.

But not so fast - there is plenty of blame to go around. For years, the left pushed offering mortgages to people that were not qualified. There was no thought as to the consequences to giving a "subprime" mortgage to someone who could not afford it. For almost a decade, Republicans in Congress have been pushing to reform FNM and FRE; to reign in their power and balance sheet. They were thwarted by the Democrats in Congress. John Mccain several years ago pushed reform only to be denied.

It is interested to say the least to see now the "Chris Dodd's" of the world pontificate how outraged they are at the investment banks and CEOs of Wallstreet.

I am continually amazed at the untruths pushed by these people. Why can't they take responsibility for their actions? The rest of us have to.

All of us are going to suffer for the excesses of the last decade. I just hope that Congress gets out of their hearing rooms and into the mode of passing the legislation that needs to be passed.