Thursday, June 26, 2008

Why I Love Jeb Hensarling

It is not just because he is a fellow Aggie. This just showed up in my inbox:
Recently, the Washington Post and Wall Street Journal reported that two senators allegedly received preferential treatment on multiple mortgage loans through an elite V.I.P. program at Countrywide Financial. Reports indicate that the program was designed to give unique perks for government officials who were deemed “friends” of Countrywide's chairman and chief executive office, Angelo Mozilo.

According to these same news reports, the preferential treatment resulted in tens of thousands of dollars in savings for some of the most powerful lawmakers in Congress. It is extremely troubling that these sweetheart deals have emerged shortly before the Senate was scheduled to consider a $300 billion bail out bill for mortgage lenders that would place the burden to finance this bill on the backs of hardworking taxpayers.

Although these reports are still merely allegations, it is disconcerting to think members of Congress might be receiving sweetheart deals on their mortgages, while millions of hardworking Americans struggle to repay their mortgage debts and cope with $4 per gallon gasoline and soaring foods prices.

That is why I have demanded that Speaker of the House Nancy Pelosi convene a congressional investigation into whether the Senators received preferential treatment from the nation's largest loan provider, simply because they are a member of Congress.

If Congress has time to investigate the thoroughbred horse racing industry or sewage treatment in San Diego, surely Congress has time to determine the facts surrounding this matter and what must be done to prevent other Members of Congress from seeking or receiving sweetheart deals.

When we see this much smoke, it is time to look for fire.

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