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Barney Frank, Chairman of the House Financial Services Committee is the leading culprit in the country when it comes to the mortgage meltdown. He defended Fannie and Freddie against all efforts by Republicans to regulate their sub-prime policy under the guise of "helping" the poor. Of course Fannie and Freddie also acted as Frank and Dodd's political slush fund where they received large, consist ant and reliable contributions. Now that Frank's house of cards comes crumbling down, he takes no responsibility. Also check out the "all you need to know about the mortgage meltdown" videos on the side bar showing Frank and his minions on the House Financial Services Committee killing all Republican efforts to clamp down on Fannie and Freddie. That's why when Dems use the "Republicans were against regulations" argument, it may be affective for stupid folks, but for those in the know, it's truly laughable, especially as it relates to Fannie and Freddie, the well known Democrat cash cows.
This should not be a partisan issue, but there is simply no mistaking who caused this crisis. the NRCC finally have the guts to tell it like it is:
8 hours ago
"Barney Frank is the leading culprit in the country when it comes to the mortgage meltdown"
ReplyDeleteOh please!
If you got yer head out your arse (or Billo's) even just a little bit, you'd know that this is down to a culmination of deregulation from the late 90's.
A period where many congressmen/women were missing in action. Oh and it was controlled by Republicans.
Now who's not taking responsibility?
How can there possibly be any true discussion or exchange of ideas if one fellow shouts relentlessly without a particle of decorum, civility, or control over his emotions? How can I learn anything about an issue - and this is an important issue - through this venue?
ReplyDeleteWill someone please explain to me how a forum like this can produce anything enlightening or rational. When you witness a scene like this in a bar, either the patrons leave or the guy who's yelling is asked to leave.
What's the value here? This is the first time I've seen this show and I'm honestly puzzled by it.
Jonathan
Regarding Barney Frank's and other Democratic leaders culpability it is a well documented fact (by the trail of housing bills passed by Democrats) that they have been on a long time mission of forcing our banks to make loans to low and moderate income borrowers. Just check a few foreclosure listings and you will see many low income neighborhoods have the majority of foreclosures. The first pass on this emergency bill was a lame attempt to get the USG to buy those foreclosed homes and give them to the occupants. Many people, politicians, economists and finance professionals have known this credit crisis has been coming. Thus, the reason why Republicans tried so many times to pass legislation addressing it. Armando Falcon was derided for stating the truth about the fraudulent accounting and desparate state of financial condition at Fannie and Freddie in 2003/2204. No wonder her resigned as Director of the AFHEO, the oversight board for Freddie and Fannie set up by the 1992 housing bill passed by Democrats. The ignorance of Frank and Dodd brought our banks to the brink of being acquired by foreign banks. Thus the bailout.
ReplyDeleteMTK in VA
When you cut and paste from another Web site, that is called plagiarism.
ReplyDeletePalin 'Holds Her Own'; I Hold My Liquor