Congressional Dysfunction
Congress is indulging in its usual posturing by holding innumerable hearings investigating why the price of gas is so high. Every member of Congress knows or should know that the Enron loophole, passed 7 years ago, is the primary cause of this energy catastrophe. After years of successful, tight governmental control over speculators, Enron’s large campaign contributions to members of Congress resulted in the loosening of this oversight. The Enron loophole allows unregulated speculators to manipulate oil so that prices are estimated to be $60- $80 higher per barrel than they should be.
Underwater Mortgages
Members of Congress, in order to demonstrate their ability to handle national crises, are initiating legislation to alleviate the subprime mortgage difficulties. Typically, they are proposing a hasty solution that uses Federal Funds, tax payers’ money. If, more probably, when, this plan fails, tax payers will be required to pay, once again, for the loss.
Split sville
We are no longer Americans; mostly, we’re characterized as liberals or conservatives. Our nation is approaching the divisiveness that was present during the Civil War. It is no wonder that we have a dysfunctional government. Career politicians have adroitly diverted our attention from their poor performance by using a scapegoat, the other political party.
Enabler
Enabler is the terminology for anyone, wives, families, or friends, who empower addicts and abusive spouses to act irresponsibly. The United States government is the biggest enabler in the world. It bailed out: the Continental Bank in 1964, the Savings & Loan Industry in 1989, and the Long Term Capital Management Hedge Fund in 1998. Recently, the Federal Reserve, under political pressure, bailed out Bear Stearns. (See the op-ed in the April 11th Wall Street Journal, “Our Financial Bailout Culture,” by Ethan Penner.)
Open Elections
Our popular vote is invalidated by an election system that was designed by the political parties, to maintain their control. This complicated, costly election process marginalizes citizens’ votes, rewards the party hacks, and gives undue power to political insiders. Politicians and money interests have appropriated our wishes in this archaic election procedure.
