A topic in today’s POLITICO Arena is “Cross of Goldman – Will Democrats or Republicans be more tainted by ties to Goldman Sachs?” My frustration is with Washington politicians’ natural inclination to think they have the answers to all problems — even the ones they helped create. Piling bad laws on top of policies which had unintended consequences is not the way to go. And, deamonizing people from the private sector isn’t the right approach, either. My response is below and can be read here on the POLITICO website.

So, Congress unwisely propped up Fannie Mae and Freddie Mac. This action fueled the irresponsible lending practices that led to the housing bust. This bust caused the financial crisis. The consequence of this crisis was widespread failure on Wall Street. Those failures ignited bailouts, economic chaos and a severe recession.

What’s the response from Washington politicians? Show trials condemning a firm whose house didn’t burn down in the fire Congress initially sparked. Senators, maybe it is time for you to purchase a mirror.