Now we know, at least vaguely, what was behind the accusations against the CIA made in that June 26th letter from seven democrat House members.

After some months on the job, Leon Panetta learned of an inactive, never really implemented but potentially controversial, CIA program, initiated in the direct aftermath of 9/11, which proposed assassinating some important al Qaeda leaders. It would appear that such shenanigans were too Jack Bauer for the Bush Administration, so despite ink being spilled, findings being drafted, and probably warrior spooks training with silenced pistols off somewhere in the Virginia woods, nothing real ever came of any of this.

But good little Leon felt obliged to tattle anyway, and seven democrats thought the opportunity to play Gotcha! with the Agency was too good to miss. Ergo, the famous letter of June 26th. The Sunday Times dutifully clocked in yesterday with a deeply-troubled, chin-stroking article about the perfidy of Dick Cheney in concealing such dastardly doings.

The Wall Street Journal today actually supplies a lot more of the substance.

A secret Central Intelligence Agency initiative terminated by Director Leon Panetta was an attempt to carry out a 2001 presidential authorization to capture or kill al Qaeda operatives, according to former intelligence officials familiar with the matter.

The precise nature of the highly classified effort isn’t clear, and the CIA won’t comment on its substance.

According to current and former government officials, the agency spent money on planning and possibly some training. It was acting on a 2001 presidential legal pronouncement, known as a finding, which authorized the CIA to pursue such efforts. The initiative hadn’t become fully operational at the time Mr. Panetta ended it.

In 2001, the CIA also examined the subject of targeted assassinations of al Qaeda leaders, according to three former intelligence officials. It appears that those discussions tapered off within six months. ...

One former senior intelligence official said the program was an attempt “to achieve a capacity to carry out something that was directed in the finding,” meaning it was looking for ways to capture or kill al Qaeda chieftains.

The official noted that Congress had long been briefed on the finding, and that the CIA effort wasn’t so much a program as “many ideas suggested over the course of years.” It hadn’t come close to fruition, he added. ...

(A) small CIA unit examined the potential for targeted assassinations of al Qaeda operatives, according to the three former officials. The Ford administration had banned assassinations in the response to investigations into intelligence abuses in the 1970s. Some officials who advocated the approach were seeking to build teams of CIA and military Special Forces commandos to emulate what the Israelis did after the Munich Olympics terrorist attacks, said another former intelligence official.

“It was straight out of the movies,” one of the former intelligence officials said. “It was like: Let’s kill them all.”

The former official said he had been told that President George W. Bush and Vice President Dick Cheney didn’t support such an operation. The effort appeared to die out after about six months, he said. ...

(I)n September 2001, as CIA operatives were preparing for an offensive in Afghanistan, officials drafted cables that would have authorized assassinations of specified targets on the spot.

One draft cable, later scrapped, authorized officers on the ground to “kill on sight” certain al Qaeda targets, according to one person who saw it. The context of the memo suggested it was designed for the most senior leaders in al Qaeda, this person said.

Eventually Mr. Bush issued the finding that authorized the capturing of several top al Qaeda leaders, and allowed officers to kill the targets if capturing proved too dangerous or risky.

Lawmakers first learned specifics of the CIA initiative the day after Mr. Panetta did, when he briefed them on it for 45 minutes.

What is really going on here is an attempt to gratify the democrat party’s bolshevik base with a little more witch hunting for Bush-Cheney war crimes, combined with the same party’s Congressional efforts to grab micromanagement control of US Intelligence operations.

Sensible people, and even Christopher Hitchens, have argued for some time that the battle with Congress over the CIA was lost long ago. It is past time to abolish the current agency, sell that campus at Langley for a football stadium, and establish a brand new unfettered agency operating covertly and free of Congressional oversight out of anonymous offices.

Anna Eshoo (Calif.), John Tierney (Mass.), Rush Holt (N.J.), Mike Thompson (Calif.), Alcee Hastings (Fla.), Jan Schakowsky (Ill.), and Adam Smith (Wash.) reopened Congressional democrats’ attacks on the CIA, releasing yesterday a letter dated June 26th directly contradicting CIA Director Leon Panetta and asserting that “significant actions” were concealed from Congress and charging the CIA with misleading Congress.

The ball is now in Leon Panetta’s court, and I think his response will be interesting.

The Politico:

A letter released late Wednesday by six (actually 7 – JDZ) Democratic House members claims that Central Intelligence Agency Director Leon Panetta testified that “top CIA officials have concealed significant actions… and misled” members of Congress since 2001 — a claim the CIA is contesting.

The letter did not specify what actions were concealed, or how members of Congress were misled.

In it, the Democrats demanded that Panetta correct a statement he issued on May 15 – just after House Speaker Nancy Pelosi accused the CIA of misleading her during the Bush years about the agency’s use of waterboarding techniques – stating that it is not the CIA’s “policy or practice to mislead Congress.”

Steve Chapman, writing in Reason, notes that Congress just proved all over again that our elected representatives never believe in letting the Bill of Rights get in the way of saving Americans from themselves.

(T)he tobacco regulation bill recently passed by Congress indicates that the spirit of liberty is even scarcer than usual in the halls of government.

What motivates advocates of stricter tobacco regulation is the unassailable assurance that they are not only completely right but that their opponents are a) wrong and b) evil. This invigorating certitude makes it possible to justify almost anything that punishes cigarette companies, even if it does no actual good—or does actual harm.

One of the main purposes of the new law is to reduce the number of smokers in the name of improving “public health.” This is a skillful use of language to confuse rather than enlighten.

An individual decision to take up cigarettes is a private event, not a public one, and its health effects are almost entirely confined to the individual making the choice. ...
Cigarette makers are forbidden to use color in ads in any publication whose readership is less than 85 percent adult. They are barred from using music in audio ads. They are not allowed to use pictures in video ads. They may not put product names on race cars, lighters, caps, or T-shirts. From all this, you almost forget the fleeting passage in the Constitution that says “Congress shall make no law … abridging the freedom of speech.”

When it gets in a mood to regulate, Congress doesn’t like to trouble itself with nuisances like the First Amendment. In 2001, the Supreme Court ruled it was unconstitutional for Massachusetts to ban outdoor ads within 1,000 feet of any schools and playgrounds. So what does this law do? It bans outdoor ads within 1,000 feet of schools and playgrounds.

The Court said the Massachusetts law was intolerable because it choked off communication about a legal activity. “In some geographical areas,” complained Justice Sandra Day O’Connor, “these regulations would constitute nearly a complete ban on the communication of truthful information about smokeless tobacco and cigars to adult consumers.”

But to anti-smoking zealots, that effect is not a bug but a feature. The only problem they have with imposing “nearly a complete ban” is the “nearly” part.

Read the whole thing.

George W. Bush may have been a bit of an idiot to allow liberal elements of the Intelligence Community to damage his administration with leaks of high-level national security information and the Plamegame disinformation operation, but one does have to admire the fact that Bush scrupulously followed what he (I think erroneously) believed to be the rules and never whined about what his opponents were doing to him.

The CIA had a lot better reason to do some leaking this time: to correct the historical record after Barack Obama and congressional democrats chose to use counter-terrorism interrogations as an alleged atrocity useful for indicting their Republican predecessors.

But the spooks are not playing with gentlemanly George W. Bush this time. Demonstrate that Nancy Pelosi was lying her head off, and out come the democrat senatorial thugs to cry foul.

The Politico has the story.

Democrats charged Tuesday that the CIA has released documents about congressional briefings on harsh interrogation techniques in order to deflect attention and blame away from itself.

“I think there is so much embarrassment in some quarters [of the CIA] that people are going to try to shift some of the responsibility to others — that’s what I think,” said Sen. Carl Levin (D-Mich.), who sat on the Senate Intelligence Committee and was briefed on interrogation techniques five times between 2006 and 2007.

Illinois Sen. Dick Durbin, the No. 2 Democrat in the Senate, said he finds it “interesting” that a document detailing congressional briefings was released just as “some of the groups that have been responsible for these interrogation techniques were taking the most criticism.”

Asked whether the CIA was seeking political cover by releasing the documents, Intelligence Committee Chairwoman Dianne Feinstein (D-Calif.) said: “Sure it is.”

George Will makes an excellent argument. Let’s hope the Supreme Court intervenes.

[T]he Emergency Economic Stabilization Act of 2008 (EESA) is unconstitutional.

By enacting it, Congress did not in any meaningful sense make a law. Rather, it made executive branch officials into legislators. Congress said to the executive branch, in effect: “Here is $700 billion. You say you will use some of it to buy up banks’ ‘troubled assets.’ But if you prefer to do anything else with the money—even, say, subsidize automobile companies—well, whatever.”

FreedomWorks, a Washington-based libertarian advocacy organization, argues that EESA violates “the nondelegation doctrine.” Although the text does not spell it out, the Constitution’s logic and structure—particularly the separation of powers—imply limits on the size and kind of discretion that Congress may confer on the executive branch.

The Vesting Clause of Article I says, “All legislative powers herein granted shall be vested in” Congress. All. Therefore, none shall be vested elsewhere. Gary Lawson of Boston University’s School of Law suggests a thought experiment:

Suppose Congress passes the Goodness and Niceness Act. Section 1 outlaws all transactions involving, no matter how tangentially, interstate commerce that do not promote goodness and niceness. Section 2 says the president shall define the statute’s meaning with regulations that define and promote goodness and niceness and specify penalties for violations.

Surely this would be incompatible with the Vesting Clause. Where would the Goodness and Niceness Act really be written? In Congress? No, in the executive branch. Lawson says that nothing in the Constitution’s enumeration of powers authorizes Congress to enact such a statute. The only power conferred on Congress by the Commerce Clause is to regulate. The Goodness and Niceness Act does not itself regulate, it just identifies a regulator.

The Constitution empowers Congress to make laws “necessary and proper” for carrying into execution federal purposes. But if gargantuan grants of discretion are necessary, are the purposes proper? Indeed, such designs should be considered presumptively improper. What, then, about the Goodness and Niceness Act, which, as Lawson says, delegates all practical decision-making power to the president? What about EESA? ...

As government grows, legislative power, and with it accountability, must shrink. The nation has had 535 national legislators for almost half a century. During that time the federal government’s business—or, more precisely, its busy-ness—has probably grown at least twenty-fold. Vast grants of discretion to the executive branch by Congress, such as EESA, may be necessary—if America is going to have constant governmental hyperkinesis. If Washington is going to do the sort of things that EESA enables—erasing the distinction between public and private sectors; licensing uncircumscribed executive branch conscription of, and experimentation with, the nation’s resources.

Since the New Deal era, few laws have been invalidated on the ground that they improperly delegated legislative powers. And Chief Justice John Marshall did say that the “precise boundary” of the power to “make” or the power to “execute” the law “is a subject of delicate and difficult inquiry.” Still, surely sometimes the judiciary must adjudicate such boundary disputes.

The Supreme Court has said: “That Congress cannot delegate legislative power to the president is a principle universally recognized as vital to the integrity and maintenance of the system of government ordained by the Constitution.” And the court has said that properly delegated discretion must come with “an intelligible principle” and must “clearly delineate” a policy that limits the discretion. EESA flunks that test.

A security guard at the Fairfield home of AIG Financial Products executive Douglas Poling reasoning with demonstrators, who are being egged on by the press

Elections have consequences. One conspicuous consequence of the last election is angry mobs at the front doors of suburban Connecticut homes. As if they were living in some Third World country, American executives in Fairfield County now need to protect their families with bodyguards.

AIG employees and their families became victims of mass hatred and were placed in real physical danger by deliberate policy crafted at the highest levels of the Government of the United States.

The Obama Administration and the corrupt democrat congress have cynically chosen to advance their socialist agenda by the left’s traditional tactic of divisive agitation.

Paul Kengor, at American Thinker, puts the AIG show trial into perspective.

“We must teach our children to hate,” Vladimir Lenin instructed his education commissars. The Bolshevik godfather declared that hatred was not only “the basis of communism” but “the basis of every socialist and Communist movement.”

Class envy has been a defining staple of the left for centuries, from the frenzied mobs leaping around the French guillotines to the Soviets to, well, the new masses circling AIG executives today. ...

Historically, this behavior is both foreign and antithetical to the American experience. Unfortunately, modern Americans don’t understand their founding and the nation’s core principles—our educational system doesn’t teach those things. Thus, they are now voting, and behaving, in kind. And we are now witnessing our own homegrown socialist movement in action, inspired by hate.

Some Americans, whipped into poisonous hatred by their elected representatives, have literally called for death for AIG executives, and one U.S. senator openly requested that these businesspeople commit suicide.

Liberals in Congress, from Senator Chuck Schumer to Senator Chris Dodd, plus a wild gaggle of unleashed central planners in the House, have conducted a show trial of AIG executives, with the larger purpose of placing American free enterprise in the dock. ...

As members of Congress target the likes of AIG chief executive Edward Liddy, mobs target the homes of AIG employees in Connecticut. ...

AIG workers are being demonized, noted the Times; they are hiring bodyguards. And it isn’t only AIG. Merrill Lynch is dealing with similar assaults.

And that’s just the start. It’s only a matter of public exposure until another group of private-sector “reptiles”—Lenin’s word—is identified for the proletariat. Congress and the White House will be happy to call out the next group of kulaks. ...

[T]he mob wants someone’s head on a platter—now. Time to eat the rich. Perhaps our dear leader, President Obama, can go to Connecticut to play the role of healer, addressing the faithful, calming their fears, a political sermon on the mount. Blessed would be the peacemaker.

But not yet—for now, this hate is just too excellent, too perfect for advancing the agenda of the leftist ideologues and envy-mongers running the republic.

Who’s to blame? The American people are to blame. I’m tired of the populist nonsense from talk-radio on how Americans “deserve better than this.” They do? Why? They voted for this. Obama is being Obama. Pelosi is being Pelosi. Schumer is being Schumer. The American people cast the ballots.

You reap what you sow. Enjoy the hate, America. You elected it.

Read the whole thing.

Charles Krauthammer puts into perspective the scale of the AIG bonuses which have occasioned such histrionics in Washington. Targeting executives as overpaid is a handy way of diverting the public’s attention from the really significant looting going on at the hands of Congress itself.

A $14 trillion economy hangs by a thread composed of a comically cynical, pitchfork-wielding Congress, a hopelessly understaffed, stumbling Obama administration, and $165 million.

That’s $165 million in bonus money handed out to AIG debt manipulators who may be the only ones who know how to defuse the bomb they themselves built. Now, in the scheme of things, $165 million is a rounding error. It amounts to less than 1/18,500 of the $3.1 trillion federal budget. It’s less than one-tenth of 1 percent of the bailout money given to AIG alone. ...

[A] contract is a contract. The AIG bonuses were agreed to before the government takeover and are perfectly legal. Is the rule now that when public anger is kindled, Congress summarily cancels contracts?

Even worse are the clever schemes now being cooked up in Congress to retrieve the money by means of some retroactive confiscatory tax. The common law is pretty clear about the impermissibility of ex post facto legislation and bills of attainder. They also happen to be specifically prohibited by the Constitution. We’re going to overturn that for $165 million?

Nor has the president behaved much better. He too has been out there trying to lead the mob. ...

It is time for the president to state the obvious: This recession is not caused by excessive executive compensation in government-controlled companies. The economy has been sinking because of a lack of credit, stemming from a general lack of confidence, stemming from the lack of a plan to detoxify the major lending institutions, mainly the banks, which, to paraphrase Willie Sutton, is where the money used to be.

Michael Graham, at the Boston Herald, observes that the 4th District of Massachusetts’ representative in the House has a lot more to do with the current financial mess than AIG does.

The only thing more painful than watching 180 billion tax dollars swirl down the AIG drainpipe is listening to Barney Frank bloviate about it.

I don’t know The World’s Most Expensive Legislator personally, but I hear he’s quite a cut-up at cocktail parties. However, as legislator and politician, he is an unmitigated disaster. Frank combines the economic success of AIG, the business ethics of Enron and the personal accountability of Ruth Madoff.

Frank began his career opposing Reaganomics, an opposition that stubbornly resisted 25 years of nearly constant economic growth. In the 1990s, Frank sat on the Banking Committee regulating Fannie Mae, even as his then-partner, Herb Moses, worked as a Fannie exec.

Is it a coincidence that Frank has been a die-hard advocate for expanding Freddie/Fannie at any cost?

Since at least 2002, Frank fought an ever-growing drumbeat of calls to slow down the Fannie Mae/Freddie Mac train wreck.

In 2003, he famously said that Freddie and Fannie were “not in a crisis,” that they were “fundamentally sound financially.” He repeated that expert testimony in 2005, all the while rejecting the argument that the taxpayers were responsible for Freddie and Fannie’s bills.

And in 2007, he actually proposed raising the caps on Fannie/Freddie’s portfolios – exposing taxpayers to even more risk – and then dumping the new money into (drum roll, please) even more subprime mortgages.

Less than a year later, the Fannie/subprime/derivatives catastrophe was upon us. And the cheerleader for all three? Our Barney.

Which is why it so astonishes that anyone takes him seriously as the self-declared watchdog of Wall Street. Please, Barney, just shut up.

And the spending just keeps going. Having just passed the $787 billion so-called Stimulus Package, democrat commissars on Capitol Hill are next turning their attention to an Omnibus Spending Bill, which as Newsmax reports, will contain more earmarks than ever before. The Saturnalia of Spending continues.

During the 2008 presidential campaign, candidates Barack Obama and John McCain fought vigorously over who would be toughest on congressional earmarks.

“We need earmark reform,” Obama said in September during a presidential debate in Oxford, Miss. “And when I’m president, I will go line by line to make sure that we are not spending money unwisely.”

President Barack Obama should prepare to carve out a lot of free time and keep the coffee hot this week as Congress prepares to unveil a $410 billion omnibus spending bill that’s riddled with thousands of earmarks, despite his calls for restraint and efforts on Capitol Hill to curtail the practice.

The bill will contain about 9,000 earmarks totaling $5 billion, congressional officials say. Many of the earmarks — loosely defined as local projects inserted by members of Congress — were inserted last year as the spending bills worked their way through various committees.

Byron York reminds readers of Congressional democrats posing as deficit hawks back when George W. Bush was in the White House. Now that they have control of Congress and the White House they are using the recession as a pretext for a budgetary blowout calculated to make the Great Society look like a Presbyterian picnic. Americans will be paying for Obama’s first month in office for a generation.

Back in 2006, when Democrats were hoping to win control of the House and Senate, party leaders worked themselves into a righteous outrage over the issue of out-of-control federal spending. Rep. Nancy Pelosi, D-Calif., called the Republican budget “irresponsible” and “unpatriotic” because it increased the amount of U.S. debt held by foreign countries. Sen. Harry Reid, D-Nev., accused Republicans of going on “an unprecedented and dangerous borrowing spree” and declared GOP leadership “the most fiscally irresponsible in the history of our country … no other president or Congress even comes close.”

You won’t find too many defenders of George W. Bush’s record on spending these days, even among Republicans. But a check of historical tables compiled by the Office of Management and Budget shows that the spending that so distressed Pelosi and Reid seems downright modest today. After beginning with a Clinton-era surplus of $128 billion in fiscal year 2001, the Bush administration racked up deficits of $158 billion in 2002, $378 billion in 2003, $413 billion in 2004, $318 billion in 2005, $248 billion in 2006, $162 billion in 2007, and $410 billion in 2008.

The current administration would kill to have such small numbers. President Barack Obama is unveiling his budget this week, and, in addition to the inherited Bush deficit, he’s adding his own spending at an astonishing pace, projecting annual deficits well beyond $1 trillion in the near future, and, in the rosiest possible scenario, a $533 billion deficit in 2013, the last year of Obama’s first term.

And what about the national debt? It increased from $5 trillion to $10 trillion in the Bush years, leading to dramatically higher interest costs. “We pay in interest four times more than we spend on education and four times what it will cost to cover 10 million children with health insurance for five years,” Pelosi said in 2007. “That’s fiscal irresponsibility.”

Now, under Obama, the national debt — and the interest payments — will increase at a far faster rate than during the Bush years.

“We thought the Bush deficits were big at the time,” Senate Minority Leader Mitch McConnell, told me this week as he prepared to attend Obama’s Fiscal Responsibility Summit. “But this is going to make the previous administration look like rank amateurs. We could be adding multiple trillions to the national debt in the first year.”

At some point last week, the sheer velocity of Obama’s spending proposals began to overwhelm even experienced Washington hands. In the span of four days, we saw the signing of the $787 billion stimulus bill, the rollout of a $275 billion housing proposal, discussion of Congress’s remaining appropriations bills (about $400 billion) and word of a vaguely-defined financial stabilization plan that could ultimately cost $2 trillion. When representatives of GM and Chrysler said they might need $21 billion more to survive, it seemed like small beer.

The Capitol Hill offices of many congressmen and senators don’t even have a copy! If you need top get hold of a copy, Paul Bedard advises, ask a lobbyist.

We’re receiving E-mails from Capitol Hill staffers expressing frustration that they can’t get a copy of the stimulus bill agreed to last night at a price of $789 billion. What’s more, staffers are complaining about who does have a copy: K Street lobbyists. E-mails one key Democratic staffer: “K Street has the bill, or chunks of it, already, and the congressional offices don’t.

Moreover, the press is having problems reporting because a number of versions of the bill are floating around out there.

[T]he Hill is getting calls from the press (because it’s leaking out) asking us to confirm or talk about what we know—but we can’t do that because we haven’t seen the bill. Anyway, peeps up here are sort of a combo of confused and like, ‘Is this really happening?’” Reporters pressing for details, meanwhile, are getting different numbers from different offices, especially when seeking the details of specific programs.

Worse, there seem to be several different versions of what was agreed upon, with some officials circulating older versions of the package that seems to still be developing.

Isn’t it wonderful having democrats in charge of the federal purse? If you went down to the port, shanghai’d 525 drunken sailors and put them in charge of legislation, it would not be much different.

Never let a serious crisis go to waste. What I mean by that is it’s an opportunity to do things you couldn’t do before. – Rahm Emanuel

The Wall Street Journal quotes the democrat White House Chief of Staff’s dictum in explaining what the democrat’s so-called stimulus package is all about.

Democrats in Congress are certainly taking his advice to heart. The 647-page, $825 billion House legislation is being sold as an economic “stimulus,” but now that Democrats have finally released the details we understand Rahm’s point much better. This is a political wonder that manages to spend money on just about every pent-up Democratic proposal of the last 40 years.

We’ve looked it over, and even we can’t quite believe it. There’s $1 billion for Amtrak, the federal railroad that hasn’t turned a profit in 40 years; $2 billion for child-care subsidies; $50 million for that great engine of job creation, the National Endowment for the Arts; $400 million for global-warming research and another $2.4 billion for carbon-capture demonstration projects. There’s even $650 million on top of the billions already doled out to pay for digital TV conversion coupons.

Read the whole thing. You and your children and your grandchildren will be paying for it.

Rasmussen Reports finds Congress breaking new ground in voter unpopularity.

If they could vote to keep or replace the entire Congress, 59% of voters would like to throw them all out and start over again. The latest Rasmussen Reports national telephone survey found that just 17% would vote to keep the current legislators in office.

The framers missed the boat when they overlooked establishing a suitable procedure.

John Steele Gordon identifies the guilty parties behind the Fannie Mae-Freddie Mac collapse.

At the heart of the problem is Congress and its deeply corrupt relationship with Fannie Mae and Freddie Mac. Congress was equally at the heart of the savings and loan disaster 20 years ago and, obviously, learned nothing from it. (For a history of what led to the savings and loan collapse, see here.)

Fannie and Freddie, two of the largest publicly traded financial institutions on earth, are headquartered in Washington, D.C., where the next-largest non-governmental financial institution is probably a local credit union. Big financial companies are headquartered in New York and other cities where capitalism is practiced. That should tell you a lot about Freddie and Fannie: they were political to their fingertips.

Being “government sponsored entities,” they were able to borrow at lower interest rates than other profit-seeking companies, had less regulation, had lower capital requirements, and had an “implied” guarantee on their huge debts. This was supposed to translate into more money available for mortgages, but was used instead to roll up big profits and, not so incidentally, big bonuses for their top management — which came not from the financial world but from the political one.

Franklin Raines, Fannie C.E.O. from 1999 to 2004, had been budget director in the Clinton White House. He cooked the books at Fannie to increase his compensation (more than $50 million). Jamie Gorelick, vice C.E.O., was number two at the Clinton Justice Department before going to Fannie Mae. She made $26 million. Jim Johnson, a perennial Washington big-foot, was chairman from 1991 to 1998. He too, according to an official government report, cooked the books to increase his compensation and failed to publicly reveal how much he received.

The Wall Street Journal editorial page has been giving chapter and verse for years on why this was a disaster waiting to happen (Pulitzer Prize judges, please note). The Bush administration tried way back in 2003 to change the system. It got nowhere. Alan Greenspan, then the chairman of the Federal Reserve, frequently noted the danger of Fannie and Freddie’s weak capitalization. He was ignored. Congressman Mike Oxley, then chairman of the House Financial Services Committee, introduced a bill in 2005 to correct the situation. Lobbyists from Fannie and Freddie succeeded in gutting it to the point that Rep. Oxley pulled the bill.

Why were Fannie and Freddie so successful at maintaining the status quo? Check it out.

Senator Chris Dodd — formerly ranking member and now chairman of the Senate Banking Committee, with oversight over Freddie and Fannie — recently said on Bloomberg Television: “I have a lot of questions about where was the administration over the last eight years.”

Excuse me? Just where the hell were you, Senator? Oh, right. You were standing in line at the bank in order to deposit the political contributions Fannie and Freddie were lavishing upon you. At least they got their money’s worth — until the party ended and the American people got the bill.

Members of Congress — aided and abetted by their many waterbearers in the media — wonder why their collective approval rating is about on par with colon cancer’s. The reason is simple enough: Congress is the sick man of Washington; a textbook example of the truism that institutions tend to evolve in ways that benefit their elites, at the expense of the people they were created to serve.

Gasoline is $4+ a gallon. It takes over $70 to fill-up my car, and around $10 more to put some gas in the plastic jerrican for the lawnmower.

Congressional Republicans want to pass a bill to do something about this by freeing up more domestic production. They have the votes, but democrat House Speaker Nancy Pelosi refuses to allow a vote, has adjourned the House of Representatives for a five-week vacation, and turned the lights off in the Capitol in an effort to evict Republicans who have stayed on the floor in protest.

As Patrick Ruffin notes, a watershed has occurred in which Republicans are succeeding in mobilizing a grassroots protest effort using the Internet.

The prime tool for organizing currently is Twitter free social networking and micro-blogging service that allows users to send updates, known as “tweets,” text-based posts of up to 140 characters in length.

Sign the petition.

1:38 Call Congress Back video