More Political Class Insanity - General

Consider some recent public examples and consider this: are these the people you want leading this country and spending your tax dollars?

Who’s on first, what’s on second, I don’t know who’s on third = Congressional Hearing

The St. Petersburg Times printed a story from wire service reports on January 19, 2008 concerning the major crisis unfolding in the banking industry relating to subprime mortgages. Specifically, it highlighted a meeting held by the House Budget Committee which was hearing testimony from Federal Reserve Chairman Ben Bernanke and attended by Representative Marcy Kaptur, D-Ohio. Unfortunately, it appears Ms. Kaptur did not come prepared to the meeting since she had difficulty understanding who Mr. Bernanke was. She confused him with Treasury Secretary Henry Paulson, asking numerous questions in trying to understand the backgrounds, work histories and responsibilities of Mr. Bernanke and Mr. Paulson. Mr. Bernanke had to lay out the difference between the two before the meeting could go on.

Comment: With the nation in the midst of a colossal financial crisis, a member of the political class, sitting on an important congressional committee, did not take the time or have the smarts to understand who the major players are in government relative to the crisis. Is it any wonder we are in the subprime mortgage mess we are in when the people in charge are so ignorant of the situation?

Maybe he was an agriculture major in college.

An article published in the sports section of the St. Petersburg Times on June 13, 2007 reported that Scottie Pippen, a famous and rich National Basketball Association all star player, earned over $78,000 in Federal government checks for land he owns in Arkansas, according to CNBC. Nowhere in the article did it say the government bought the land, it said he earned the money from the government. This payment was made to him despite the fact that he has earned over $100,000,000 in his NBA career. The article also pointed out that he had lost a lot of it through bad investments.

Comment: Glad we could use taxpayer money to help Scottie get through his difficult time. It’s not easy living on the tens of millions of dollars he probably still has left.