And this is the man in charge of our financial reform now? (Barney Frank)

[likeabird03]

Listen to this toad

June 2005

[ame=http://www.youtube.com/watch?v=iW5qKYfqALE]Barney Frank in 2005: What Housing Bubble? - YouTube[/ame]

 

[ScienceRocks]

People like Barney frank are why we're fucked. True story!

 

[likeabird03]

Talk about putting the fox in charge of the hen house.

 

[JoeB131]

I'm wondering how Barney seems to weild all this power when his party in the minority.

I mean, he single handedly caused the housing market collapse, by just being in Congress. Nope. Had nothing to do with the banks, realtors, home-buyers and everyone else who contributed to the Tulip Craze on housing.

I think he's an awful person, but he's not the bogeyman.

 

[likeabird03]

I'm wondering how Barney seems to weild all this power when his party in the minority.

I mean, he single handedly caused the housing market collapse, by just being in Congress. Nope. Had nothing to do with the banks, realtors, home-buyers and everyone else who contributed to the Tulip Craze on housing.

I think he's an awful person, but he's not the bogeyman.

You're forgetting about Fannie Mae/Freddie Mac.

 

[flacaltenn]

I'm wondering how Barney seems to weild all this power when his party in the minority.

I mean, he single handedly caused the housing market collapse, by just being in Congress. Nope. Had nothing to do with the banks, realtors, home-buyers and everyone else who contributed to the Tulip Craze on housing.

I think he's an awful person, but he's not the bogeyman.

Those are just his comments about 6 months before his party GAINED power. The REAL criminal Barney Frank actions happened during 2007-2008 immediately preceeding the bursting of the bubble. You should hear what he said then when he sent the regulators home for questioning the need to soak up SubPrimes at Fanny and Freddy..

He SHOULD be impeached and removed from office.

[ame=http://www.youtube.com/watch?v=BC88oox9TBo]Barney Frank Freddie Fannie Flip - YouTube[/ame]

[ame=http://www.youtube.com/watch?v=CTbIb75JdwY]Don't Regulate Fannie Mae or Freddy Mac - YouTube[/ame]

Barney Frank REPEATEDLY promised:

So let me make it clear, I am a strong supporter of the role that Fannie Mae and Freddie Mac play in housing, but nobody who invests in them should come looking to me for a nickel--nor anybody else in the Federal Government. And if investors take some comfort and want to lend them a little money and less interest rates, because they like this set of affiliations, good, because housing will benefit. But there is no guarantee, there is no explicit guarantee, there is no implicit guarantee, there is no wink-and-nod guarantee. Invest, and you are on your own.

And so what happened??

Fannie Mae Freddie Mac | Fannie Mae, Freddie Mac bailouts could hit $363 billion, report says - Los Angeles Times

October 22, 2010|By Jim Puzzanghera, Los Angeles Times
Reporting from Washington — The cost for the huge government bailouts of housing finance giants Fannie Mae and Freddie Mac will grow — and possibly more than double to $363 billion — over the next three years.

But the final taxpayer loss depends mainly on the health of the economy and the real estate market, a federal regulator said Thursday.

 

[Rocko]

I'm wondering how Barney seems to weild all this power when his party in the minority.

I mean, he single handedly caused the housing market collapse, by just being in Congress. Nope. Had nothing to do with the banks, realtors, home-buyers and everyone else who contributed to the Tulip Craze on housing.

I think he's an awful person, but he's not the bogeyman.

He was in charge of oversight into Fannie and Freddy, and you can see prior to that he was pushing home ownership.

 

[Remodeling Maidiac]

[ame=http://www.youtube.com/watch?v=LPSDnGMzIdo&feature=youtube_gdata_player]Democrats were WARNED of Financial crisis and did NOTHING - YouTube[/ame]

 

[toxicmedia]

Did anybody from either side....Washington politicians I mean......warn us about the impending burst?.....I don't remember anybody complaining on either side about all that construction and real estate bucks being made during it....

 

[Remodeling Maidiac]

Did anybody from either side....Washington politicians I mean......warn us about the impending burst?.....I don't remember anybody complaining on either side about all that construction and real estate bucks being made during it....

Yes they did. Watch the video I posted.

 

[toxicmedia]

Did anybody from either side....Washington politicians I mean......warn us about the impending burst?.....I don't remember anybody complaining on either side about all that construction and real estate bucks being made during it....

Yes they did. Watch the video I posted.

I'm at work, and video is blocked. I'll look at it later. It'll be news to me if there were Washington congresspeople who warned everybody.....I did hear about one economist that was flapping his arms and got ignored. Looking forward to seeing it.

 

[Remodeling Maidiac]

Did anybody from either side....Washington politicians I mean......warn us about the impending burst?.....I don't remember anybody complaining on either side about all that construction and real estate bucks being made during it....

Yes they did. Watch the video I posted.

I'm at work, and video is blocked. I'll look at it later. It'll be news to me if there were Washington congresspeople who warned everybody.....I did hear about one economist that was flapping his arms and got ignored. Looking forward to seeing it.

Sadly the gop were in charge of congress at the time and chose not to challenge Franks position as he was the head of the oversight committee in charge of fredie and fannie.

 

[flacaltenn]

Did anybody from either side....Washington politicians I mean......warn us about the impending burst?.....I don't remember anybody complaining on either side about all that construction and real estate bucks being made during it....

Oh OF COURSE they did ToxicOne. I remember hearing about a Subprime Crisis back in 2004. In fact, I bailed from California to Tenn about then BECAUSE there was a consensus that it was an onerous bubble. And it's CLEAR that the Bush Admin and Reps were both WARNING and cheering on "home ownership". Whilst the Dems were blatantly denying that anything bad could possibly happen.