Where is the Argus Leader explaining timely news and local investigation of this federal bailout? Where are the tough questions of Senator Johnson, Senator Thune and Representative Herseth-Sandlin?
Do South Dakota reporters who work for the Associated Press, the major newspapers, or television stations have any understanding of what is going on? Do they even know enough about the world of high finance to ask intelligent questions to probe the Senators and Representatives of our state about the affairs of the world?
Here is a list of questions we should be asking our elected officials to know if they were asleep at the wheel.
Please explain how we got to the point where we have to bail out entire industries?
How do you think we could have prevented it?
What can you point to, or that you have done, to try to predict this problem?
Some have said we were 50 trades away from shutting down the world's economy. Why weren't you talking about this last month, last year, or the last 4 years?
What do you know about credit default swaps? mortgage backed securities? credit debt obligations?
Have you ever wondered how a mortgage would pay 6% interest, but the underlying value of the derivative could return 15% or more returns? Does that confuse you?
Who is responsible for regulating investment banks? Fannie and Freddie?
Were they negligent in their regulation? or do you think Congress was negligent in their oversight?
There have been calls to overhaul Fannie Mae, why wasn't this done?
How can a company be making billions of dollars a year just 1 year ago, now be bankrupt?
What other problems do you foresee in the next 2 years?
How can the Federal Government continue to spend money it doesn't have?
If you say you want to pay as you go for any legislative proposals, how can you support a Presidential candidate that calls for increasing the size and scope of government?
When has the government ever predicted accurately how much a bill would actually cost?
When the prescription drug bill was passed in 2003, it was estimated to cost $230 billion over 10 years. Two years later, the estimate was revised to $1.2 trillion. How can the American people have any confidence in governments ability to estimate costs?
Are you for increasing the size and scope of health care for all Americans? Medicare? Medicaid?
Are you for increasing the size and scope of Social Security? Why can't you just come out and say Social Security is broken, and will be bankrupt in 2017?
Are you for increasing the size and scope of federal education dollars?
Are you for increasing the size and scope of veterans benefits, teachers pay, police and fire pay?
Understanding earmark spending is only 1-2% of the budget, have you ever opposed an earmark? What have you done to take on your own party to fight earmark spending?
Have you ever told a group in South Dakota that wanted money from Washington, "no?" If so, who have you told and why?
Is now the time to run for Congress bragging about how much you brought back from Washington?
Have you ever said, "South Dakota needs to get it's fair share from Washington?" What is our "fair share" and what do you base that on?
Do you agree that Washington doesn't have any money? that we are truly broke?
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