If We're Going to Point Fingers...

...let's make sure we're pointing them at the right people.

First, read this opinion piece from the so-far-left-it's-laying-on-its side illustrious Huffington Post.

Then, read Rachel's post from last week. I think I have a little Republican girl-crush on her.

Finally, read the original article from the New York Post. It's from September 11, 2003.

It cites a plan being put before congress to, generally speaking, provide a committee to keep a closer eye on the goings-on with mortgage companies (read: Fannie Mae and Freddie Mac) to ensure they weren't digging themselves a huge hole. It never got passed. Why? Because of esteemed opinions and thus, votes by people like Barney Frank:

"These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis," said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. "The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing."

And then there was Melvin L. Watt, Democrat of North Carolina, chiming in:

"I don't see much other than a shell game going on here, moving something from one agency to another and in the process weakening the bargaining power of poorer families and their ability to get affordable housing," Mr. Watt said.

Barney Frank has changed his tune. According to The Crypt,, "Frank said the latest bailout was 'confirmation of the irresponsible failure to regulate' on the part of the Bush administration."

Hm. Where do I begin?

First of all, I'm a firm believer that people need to be held responsible for their own actions. If you live in California - let alone a pricier region like the San Francisco Bay Area, San Diego, et al. - and you're making $35,000 a year, you have no business buying a $500,000 house. Mortgage payments run anywhere from $1,500 to $2,500 per month. You do the math. I'll wait.

Second, to quote that Melvin Watt up there, there shouldn't be any "...bargaining power of poorer families..." because when you're poor, you need to recognize your situation and improve it before diving into a mortgage. Yes, owning a house is great and wonderful but it's a huge responsibility! Upkeep, taxes, the ARM. I don't own a house and can't really begin to wax knowledgable on the specifics but I can operate a calculator and I know that you shouldn't think it a good idea to throw half of your annual income at a house and then throw your hands up in the air at the lenders and government and say, "Now what do I do?"

And as for the lenders...meh. You can't tell me they didn't see this coming.

I do hold the government somewhat responsible. However, that wonderful rag Ariana Huffington co-founded and is editor-in-chief of, needs to start wagging their fingers and "tsk-tsking" at the other side of the aisle.

But, I'm just a mommy blogger, what do I know?