Can We Say Hypocrite?

Barney Frank seems to have assumed Claude Rains' roll from "Casablanca" "I'm shocked, shocked to find that gambling is going on in here!".

Why should Barney Frank be appalled at A.I.G. bonuses, when he has been chairman of the House Banking committee since 2006. The sub-prime mortgage fiasco started around 2004. Why didn't he tighten regulation of the mortgage market when he became chairman? That basically goes for all of Congress. Congress seem to be appalled at Wall Street, but it's Congress's responsibility to regulation all financial institutions. They are as culpable for the current economic meltdown as the execs on Wall Street.