As Democrats opened the first of at least five hearings on the current economic mess, they turned their fire on the CEO of bankrupt Lehman Brothers, as well as the Bush Administration for helping to screw things up.

Republicans meanwhile lambasted Democrats and accused them of covering up problems associated with mortgage giants Fannie Mae and Freddie Mac..

In other words, it wasn't hard to tell that the November elections were just four weeks away.

The hearing quickly turned into a partisan food fight when committee chair Rep. Henry Waxman decided not to allow all members to make opening statements.

Republicans blasted Waxman for muzzling them. I don't have it at my fingertips, but I bet the roles have been reversed at some point in the last 12 years when the Democrats were in the minority. Just a hunch.

GOP members huffed and puffed throughout the morning, as they spoke in grave tones of how the Democrats were ignoring Fannie and Freddie while looking for election year scapegoats.

Lawmakers did get to join forces as they moved to dress down the CEO of Lehman, Richard Fuld, who did his best to appear to be gravely sorry for the financial troubles at his company, though his bank account probably won't be drained anytime soon.

"I take full responsibility for the decisions that I made and for the actions that I took," Fuld said, though the man who started as an intern with the company in the 1960's didn't feel like he did anything particularly wrong that led to Lehman's demise.

As for why the government didn't intervene to save Lehman, but they have moved to prop up other companies, no one got any kind of answer on that one.

Today, the focus will be insurance giant AIG, which was saved when the feds took an 80 percent stake in the company. Also, another committee will hear testimony on how this crisis has affected those saving for retirement like you and me.

One thing it did point out again is that Congress is way behind the curve on all of this. The lack of oversight by both Democrat and Republican lawmakers when they've been in charge is on display for all to see.

Along with all the fingers being pointed over who is to blame.