de mint to the rescue
They announced their objections as two GOP senators said they would try to block the package until a committee can investigate how much Countrywide Financial Corp. and other lenders stand to gain from it.
House and Senate Republicans are voicing reservations about the bill in light of allegations that Senate Banking Committee Chairman Christopher J. Dodd, D-Conn., one of its architects, and Senate Budget Committee Chairman Kent Conrad, D-N.D., got cut-rate home loans through a VIP program at Countrywide, a leading subprime lender at the center of the mortgage meltdown.
Both said they neither sought nor knew about the special treatment.
“There have been very serious concerns raised about actions taken by Countrywide and we need to know what they stand to gain from this bill,” Sen. Jim DeMint, R-S.C., said in a statement.
This is all the Republicans need to do, but they seem unable to recognize that a wounded Democrat should be killed off in the full glare of publicity, as their side would a wounded Republican (Trent Lott, Tom DeLay anyone?), and not be allowed to wait out the firestorm and live to fight another day.
Unsurprisingly, one of our own is effectively pushing the bill (thereby helping out Dodd), as a demonstration that congress can ‘get something done’.
Sen. Richard C. Shelby of Alabama, the senior Banking Republican who exacted large concessions from Dodd to win bipartisan backing for the measure, said acting on it was a chance to show that Congress could move on a pressing issue.
As anybody familiar with the nonsensical calamity that is Sarbanes-Oxley can tell you, ‘getting something done’ is about as much use as an ashtray on a motorcycle if the something being done is the wrong something.
TC says:
Senator Shelby is a punk. Pretty much always has been. Good thing for Alabamans that they have Jeff Sessions to even things out for them.
I have mixed feelings about Senators Chambliss and Isakson. Solid on social issues and taxes but they’re a tad too fond of earmarks for my tastes.
Anyway, Shelby is a bitch.
The New Conservative says:
Has everyone here in South Carolina knows you can always count on Senator Demint to hold liberals accountable. Even the liberals inside his own party.
http://www.thenewconservatives.blogspot.com/
GW says:
DeMint is a superb Senator. When we finally see him him amongst the leadership of the Republican party instead of being punished by the old guard who brought us the 2006 debacle, we will know things are starting to turn around. At any rate, good post. Linked. http://wolfhowling.blogspot.com/2008/06/interesting-posts-from-around-web-19.html
Chris says:
Yeah, DeMint is a good one. Wish we had a couple like him here in NC.
Barry says:
In North Carolina Patrick McHenry is as close as we can get to a DeMint , although he does He stand his ground !
raz0r says:
If South Carolina gets tired of DeMint, send him to Florida. It’d be nice to have a conservative Senator.