What was supposed to be legal lynching of AIG's Edward Liddy turns into huge defeat for Congress

We have met the enemy and it's the people who represent us. The blowhards and buffoons in Congress proved again Wednesday they are worse than useless.

Ronald Reagan's famous line that "government is the problem" kept going through my head as the AIG hearing demonstrated the dangers of Washington's role in the economy. The very people who can't balance America's budget now claim the expertise to run banks, insurance companies and automakers.

If we let them, we're dumber than they are.

What was supposed to be a legal lynching of AIG boss Edward Liddy over the firm's bonus plan turned into a humiliating defeat for the lynch mob. Liddy came off as a smart straight shooter, a man who gave up retirement for $1 a year to rescue AIG so it wouldn't bring down the financial system.

He also proved himself a cut above those who aimed to make cheap headlines at his expense. I'd pay to see him question Congress on its role in the economic mess...

READ MORE