Paulson may be heading to Capitol Hill -- will it do any good?

Angelides noted that the fact-finding panel would call in the major financial institutions involved in the bank brouhaha, but he also noted that it will call upon "many key players." What should be noted is that Angelides did not name Paulson; he was asked if the former Treasury Secretary would be called in, to which he answered the the panel "might."

So, we have people quick to jump on the fact that the former Treasury Secretary may be called on the carpet and asked about what happened. Let's not be so quick to go throwing people under the bus for the financial meltdown. Most of us simply can accept that it was unscrupulous lending and leave it at that. However, there are those that want people punished -- and expect those people to show up at the panel's door with pitchforks and torches, demanding the head of Paulson.

Again, at some point we are going to have to stop looking backward and start looking forward. Yes, punishment for those "in the know" when the meltdown started can be cathartic, but we also need to focus on how to keep another meltdown from happening. As we speak, there is an article over on Bloomberg about confidence growing in credit-default swaps. Aren't those swaps the reason we got into trouble in the first place?

If those that do not learn from history are those that are doomed to repeat it, we are in trouble, unless we can bring an end to credit-default swaps and the likes. Yes, punish those responsible, but don't let that be our only focus. I sure don't want to go through what we went through a year ago.