It was nice to see the Providence Journal editorial page point out the role played by Christopher Dodd and Barney Frank in the current financial crisis.  As chairmen of important banking committees, they were in charge of making sure our banking system functioned properly.  Unfortunately, they did a lousy job.  Since Dodd and Frank are veteran legislators, you would think they could see some of these problems approaching.  George Bush voiced his concerns several times over the years, but his warnings fell on deaf ears.

     Barney Frank and Christopher Dodd supported lax lending standards, and those lending standards are part of what caused our current problems.  Their lack of over sight and encouragement of risky loans contributed to the credit crisis, and now these same legislators have played a large role in a solution that resulted in a massive amount of government intervention that should be uncomfortable for all of us.


http://www.projo.com/opinion/editorials/content/ED_barney5_10-05-08_O4BP80H_v24.1a54e97.html