According to Reuters, liberal Democrat Barney Frank, chairman of the House Finacial Services Committee, is once again doing what he denied doing repeatedly in the past. He is enouraging Fannie Mae and Freddie Mac to relax their loan rules a bit because they “may be too onerous”. You may recall that this sort of meddling by Big Government in general and Barney Frank in particular was the cause of the “subprime mortgage crisis” which brought us to the financial state we are in today. Having Big Government bureaucrats mistakingly believe that they know more about running a financial institution than the financial institutions themselves has been a failure in the past and continues to be so. It is unclear too exactly why the Federal Government has been allowed to assume so much power in regards to trying to run the U.S. economy. Even if they could run the economy effectively, it is not listed as one of their job descriptions in the U.S. Constitution.

It is of course easy for partisan politicians to point fingers at everybody but themselves when it comes to the blame game. How long can people still say that this economic crisis is “George Bush’s fault”? Apparently, these finger-pointers believe that we would be fine now if only President Bush would have 1)signed a law that would have spent 2 trillion dollars of taxpayer money on failing businesses without even reading the whole law. 2) been more insulting toward successful businessmen and vow to seize and to limit the profits of anyone who tries to be successful. 3) made the successful pay the mortgages of the unsuccessful 4) assumed powers not granted to him by the laws of this country by trying to take control of the economy.

The truth is that there should be no blame against the Federal Government in regards to the state of the economy. It is simply not its job to try to run the financial matters of the United States.