This is a preview of coming attractions should the Democrats win a filibuster-proof majority in Congress this election.

Rep. Henry Waxman of California, who chairs the House Oversight and Government Reform Committee, held two hearings last week intended to investigate the “causes and effects” of the financial crisis on Wall Street. Waxman, who is as liberal and partisan as they come, has scheduled three more hearings before Election Day.

Waxman and his fellow Democrats are seeking to tie the financial mess to the Bush administration and Republicans. The media are dutifully following his lead. But mortgage lenders Fannie Mae and Freddie Mac will not be a part of these hearings. Bad mortgages from Democrats who headed these outfits helped begin the worldwide economic downturn. Bill Clinton’s budget director, Franklin Rains, made nearly $100 million and Senator Barack Obama and Banking Committee Chairman Chris Dodd were among the top three recipients of political action committee money from Freddie and Fannie.

No more investigations of Democrats if Democrats win big. No accountability. Think about that before you vote.

Cal Thomas is a nationally syndicated columnist based in Washington, D.C.