Dear Congressman Frank

Barney Frank is hysterically funny on CNBC this morning. Carl Quintinilla asked Congressman Frank (I'm paraphrasing) whether the government would a) allow inflation to become a problem or b) tighten too quickly and slow economic growth. I'm going to try to quote Rep. Frank exactly, but watch the video (first 30 seconds).

Well, it's interesting. I guess that's kinda' the media approach. Nobody says we might get it right.

With all due respect, Congressman Frank, if it were possible for the government to "get it right," we wouldn't be in this situation to begin with. Congressman, you were the one who said in Congressional hearings on the systemic risk posed by Fannie Mae and Freddie Mac, that you'd "like to roll the dice a little bit."

Well you rolled the dice, and Alan Greenspan and Ben Bernanke rolled the dice, and the mortgage originators rolled the dice and the investment banks rolled the dice--all at your prodding--and here we are. For you to now say that "we might get it right" doesn't pass the laugh test--literally. I laughed out loud at how hysterically preposterous your comment was. Why? Because you and your cohorts in Congress will not allow the Fed to get it right. At the first sign of monetary tightening, you will haul Ben Bernanke, whom you praised so highly in this video, before your committee to grill him on how he can condemn millions of Americans to the unemployement rolls.

You, sir, should be a stand-up comedian, because you are not a serious policy maker.