Pelosi: 'Don't Blame Us'

When asked about the circumstances that led to the present crisis in the banking and loan industries, House Speaker Nancy Pelosi said of the Democrat-controlled Congress, 'Don't blame us.'

Excuse me, Madame Speaker, but, why not?

Congress, not the President, controls the purse strings of the American economy from a regulatory standpoint. This means that the buck stops with Congress when it comes to monetary policy.

The Democrats have controlled both Houses of Congress for 2 years. This is plenty enough time for policies to be implemented or discontinued that would have drastic implications for the state of the economy.

And we can rest assured the Democrats will blame the President for the entire scenario.

Congress, however, is at least twice as much to blame as the President for failing to do its job in making sure everyone plays by the same rules and that there are no underhanded dealings in the financial markets that could negatively impact the economy. Not only did Congressional Democrats do nothing about these crucial issues but they directly contributed to the problem.

The Democrats in Congress are up to their eyeballs in scandal revolving around cozy relationships with the top officials of Freddie Mac and Fannie Mae--all of which led to personal gain. Do the names Patrick Leahy, Barack Obama, and Charles Rangel ring any bells?

And these represent only the tip of the iceberg. Dozens of Democrats have had their hands in the cookie jar in under-the-table deals concerning high-end loans and mortgages--the very thing that led to the present crisis.

The Democrats will not investigate these scandals, however, because it is an election year, and they know that dozens will be implicated, included their own Presidential nominee.

Thus, Madame Speaker, at the end of the day, who else is to blame if not you?