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[bob ford <bobford79 AT yahoo.com>]

In This a.m Washington Post, the best editorial I've seen, so far, on the 
Wall Street / D.C. debauchery .  I  read the New York Times and The 
Washington Post, daily  primarily out of habit.  The NYT, today , in the 
editorial section, is nothing but the sounds and smells of desperation.  
Remember that they stopped being the "Paper of Record" long ago, and as of 
this week , could just be called the "Paper of Wall Street"

The Wash. Post is not much better anymore, but today, they did actually allow 
an honest editorial from an insider who names names ...bobf


Calling Out the Culprits Who Caused the Crisis

http://www.washingtonpost.com/wp-dyn/content/article/2008/09/19/AR2008091902808.html?referrer=emailarticle


Excerpt: 
 
"One has to wonder why Treasury secretaries under Presidents Clinton and Bush 
-- Robert Rubin and Hank Paulson, respectively -- took no action to curb 
these abuses. It certainly was not because they did not understand Wall 
Street's practices -- both are former chief executives of Goldman Sachs. And 
why has Congress been so silent? The Wall Street investment banking firms, 
their executives, their families and their political action committees 
contribute more to U.S. Senate and House campaigns than any other industry in 
America. By sprinkling some of its massive gains into the pockets of our 
elected officials, Wall Street bought itself protection from any tough 
government enforcement. 
 
This is no doubt the same reason why so many members of Congress were 
consistently blocking attempts to reform and downsize Fannie Mae and Freddie 
Mac, which are essentially giant, undercapitalized hedge funds. These two 
entities have been huge money machines for Democrats in both the House and 
the Senate, many of whom recently had the gall to ask why these companies 
hadn't been reformed in the past. Nor should several Republican congressmen 
and"