Congressional leaders stunned by warnings

Ron Paul responds, "told you so."

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so, they are just as uneducated in economics as the rest of the US I saw this coming a long time ago and im a high school drop-out..... Its a real shame our own government officials are this ignorant.

Mr. Dodd cut in. “Somber doesn’t begin to justify the words,” he said. “We have never heard language like this.”

My response; if the events have hit our "leaders" like this; honestly... I don't trust them to make sound decisions to instantly fix this either.

And whose interest are they really looking after?

I doubt it will be "mainstreet"

and then this: "Although Mr. Schumer, Mr. Dodd and other participants declined to repeat precisely what they were told"

Oh that builds my confidence for sure; more secrets?

How can they be shocked?!?

The Congress shall have Power To (among other things):

To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures

NOT the Federal Reserve. Congress is just feigning shock because they are all bought and paid for. This article disgusts me.

You can feel "it" coming...can't you? We're at the breaking point.

I hope Americans don't end up being herded like cattle because of crisis.

They did that on 9-11.

We ought to elect somebody like Ron Paul or Ralph Nader president, they'd be willing to tell you what a load of bullshit both parties have been feeding us for the past 60 years, and tell you what they are doing wrong.

Then we could lobby our representatives as informed and organized citizens (and/or ask them to resign).

Theatre.

i got the chills reading this.
it's coming...

Let me see, if we give the workers a 600 dollars economic stimulus check we can postpone this depression for a little while, remember more money
borrowed from China and anybody else that would loan us money. Now it's getting close to the election and we can put the squeeze on Americans and give them another economic stimulus check.... wait a minute lets give it to ourselves the rip off, financial business's so we can get too Dubai and our manmade private island.

I can not figure why they are in shock. Everyone has been watching all the signs as they keep creeping up on us.

I just imagine all those guys in the picture with the one at the end saying, "Dudes, we're fucked. This shit is going dooooooown..." and the guy does the sound effect of a bomb dropping.

Either they're right and a whole lot of people are screwed, or they're being melodramatic so when it comes bobbing back up to surface we all think they're heroes or some shit. Only time will tell...

The Democratic leaders of both Houses were stunned by this?

Lets see, terms like asleep at the wheel might apply if it wasn't that these same pompous greedy puffins were not the one's who deftly crafted the biggest screwing of the middle class in our history.

If you think Bill Graham screwed you when he slipped his banking deregulation past a lazy Congress and President, just imaging what he will do as Treasury Czar for a doddering old fool like McCain.

Please notice that none of them, Congress and the President, have fingers anymore to point at one another.

First you work your ass off for an SOB company that fires you at the first sign that the CEO might have to take a reduction in the size of his golden parachute.

Then they take your house. You never could afford medical insurance for your family.

Now they are saying you own them tens of thousands of dollars in additional taxes to cover the gambling losses of the upper class.

The government makes sure that you work even harder and for a lot less money to repay the government for their having to kiss the financial asses of the rich folk who keep them in office.

Aren't you happy to be an American? Every four years you get to vote fo(u)r more of the same.

I wonder if middle class Republicans realize they are getting screwed just like everybody else. The only difference is that they believe in the lies and deceits.

Like I've said; They're all crooks. Dems, ans Reps.

I figured Congress had no idea a financial crisis was happening.

It's a big surprise to me that they are so shocked. Millions of us average Americans were screaming warnings at them back in 1999. Of course, we didn't have cash falling out of our pockets the way the financial industry did. So they patronized us, called us naive, and told us how smart they are and how they would never expose America to the risk of economic failure.

1) For YEARS there have been smart people predicting exactly our current situation. Ron Paul is one of the best examples. 99% of people would laugh at them in the past when they made their predictions.

2) Find out who those smart people are and see if they have any advice. These people OBVIOUSLY have a better understanding of our economy.

3) Ignore advice given by the 99% of people that have been giving bad advice for years. Do NOT reelect them, ensure they are FIRED from whatever influential position they hold now.

It's ridiculous to think that Ron Paul's economic policies would have prevented any of this. His de-regulation policies are much more severe and deep than the de-regulation that caused our current problems.

Our financial problems are the result of too little regulation, not too much. Ron Paul wants to reduce all regulations on business. In Ron Paul’s vision of America, big business should be able to exploit whomever they wish whenever they wish and we, the people shouldn't have any say in it.

Once again 8 years of Conservative Republican fiscal policy has doomed the tax payer while enabling the rich. When will we ever learn that conservative fiscal policy DOES NOT WORK???

I still don't see anyone rioting in the streets. So what exactly happens if come monday the bank that holds your mortgage goes tits up. What's going to happen next?