As senior AIG executive failures are singled out for national outrage, where is the congressional finger pointing and outrage at its own banking and finance leadership?
Christopher Dodd (D.-Conn.) has chaired the 23-member Senate Committee on Banking, Housing, and Urban Affairs since 2007. Barney Frank (D.-Mass.) has chaired the 77-member House Committee on Financial Services, also since 2007. These legislators and their committees were charged with oversight of the nation’s financial system. Even if they aren’t getting multi-million dollar bonuses, why should they keep their posts under the circumstances? Where is the congressional outrage over their collective failure over the past few years? Why should the rest of the U.S. Congress or the American public trust them to reconstruct the system?