Barney Frank does flip-flop on Fannie/Freddie while his seat is being challenged.

but educated voters know much differently....

Jimmy Carter originated Fannie/Freddie to aid lower income people into lower income housing.

They deregulated everything during the 90's under the Clinton administration--and they have the audacity to blame Booosh.

What a sweet post!

FM and FM were not originated by Carter, but it's certainly nice to see a conservative admitting that deregulation was part of the problem. By the way, who were three names on the primary deregulation bill? Here, let me help:

It was Gramm-Leech- Bliley.

Gramm (R) of Texas
Leach (R) of Iowa
Bliley (R) of Virginia
 
but educated voters know much differently....

Jimmy Carter originated Fannie/Freddie to aid lower income people into lower income housing.

They deregulated everything during the 90's under the Clinton administration--and they have the audacity to blame Booosh.

What a sweet post!

FM and FM were not originated by Carter, but it's certainly nice to see a conservative admitting that deregulation was part of the problem. By the way, who were three names on the primary deregulation bill? Here, let me help:

It was Gramm-Leech- Bliley.

Gramm (R) of Texas
Leach (R) of Iowa
Bliley (R) of Virginia

Gramm-Leech-Bliley are not even in the same league as Democrats Fannie/Freddie. BTW Bill Clinton signed the Gramm-Leech-Bliley act into law because it was crammed full of the CRA crap that ruined the economy. Clinton & Democrats wanted this to create huge amounts of subprime loans for minorities with bad credit.

clintonsignsglasssteagallrepeal.gif


Anyone who thinks the repeal of Glass-Steagall was forced on an unwilling Bill Clinton need only read Rubin’s testimony.

A year later Sandy Weill set in motion the forces that would finally end Glass-Steagall. Weill proposed the most audacious financial merger in American history: he would merge one of the largest insurance companies (Travelers), one of the largest investment banks (Salomon Smith Barney), and the largest commercial banks (Citibank) in America. The problem was the merger was illegal in terms of Glass-Steagall.

Independent Community Bankers of America CEO Kenneth Guenther captured the audacity of the deal in an interview with Frontline:

Weill convinced Greenspan, Robert Rubin and Bill Clinton to sign off on a merger that was illegal at the time, with the expectation that Congress would repeal Glass-Steagall. Charles Geisst, a professor of finance at Manhattan College

The Gramm-Leach Bliley Act was first called The ”Citi-Travelers Act” & eventually changed to the benign-sounding name of the Financial Services Modernization Act of 1999 and, like Glass-Steagall it has become known for the key sponsors of the bill as the Gramm-Leach-Bliley Act, for Republican Senate Banking Committee Chair Phil Gramm, House Banking Committee chair James Leach, and Virginia Representative Thomas Bliley. As the bill took form in Congress, the financial industry, particularly Citibank and Sandy Weill increased the pressure.
 
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Gramm-Leech-Bliley are not even in the same league as Democrats Fannie/Freddie. BTW Bill Clinton signed the Gramm-Leech-Bliley act into law because it was crammed full of the CRA / FM/FM crap that ruined the economy. Clinton & Democrats wanted this to create huge amounts of subprime loans for minorities with bad credit.
GLB had not FM / FM reforms in it. The only mention of the CRA was a requirement that institutions involved in a merger could not have received a negative CRA rating.

Anyone who thinks the repeal of Glass-Steagall was forced on an unwilling Bill Clinton need only read Rubin’s testimony.

I never claimed he signed it unwillingly. I submit that he signed it gleefully, chock full of really shitty advice from Summers and others about the infallibility of financial markets. He also signed the CFM act, a similar piece of deregulatory dogshit.
 
but educated voters know much differently....

Jimmy Carter originated Fannie/Freddie to aid lower income people into lower income housing.

They deregulated everything during the 90's under the Clinton administration--and they have the audacity to blame Booosh.

What a sweet post!

FM and FM were not originated by Carter, but it's certainly nice to see a conservative admitting that deregulation was part of the problem. By the way, who were three names on the primary deregulation bill? Here, let me help:

It was Gramm-Leech- Bliley.

Gramm (R) of Texas
Leach (R) of Iowa
Bliley (R) of Virginia


Really?--:lol::lol: And I suppose that is why the majority of donations from Fannie/Freddie went to democrats--Criss Dodd being the number 1 donor and Barack Obama the number 2--LOL

These agencies have been primarily DEMOCRAT controlled for decades. The appointees--like Franklin Raines--one of Obama's economic advisors--was appointed to run Fannie Mae--while ripping it off for millions in bonuses.

In 1999, Fannie Mae came under pressure from the Clinton administration to expand mortgage loans to low and moderate income borrowers by increasing the ratios of their loan portfolios in distressed inner city areas designated in the CRA of 1977.[10] Because of the increased ratio requirements, institutions in the primary mortgage market pressed Fannie Mae to ease credit requirements on the mortgages it was willing to purchase, enabling them to make loans to subprime borrowers at interest rates higher than conventional loans. Shareholders also pressured Fannie Mae to maintain its record profits.[10]

To add to your comment--I don't know why you would feel that conservatives want NO regulation--especially since is was your guy Bill Clinton that deregulated everything. We understand the need for regulation in certain industries like banking--what we don't want is the government to be an exponent of banking--thereby co-signing our names to 50% of the mortgages in this country without our prior approval. After all we're responsible for repayment on those loans.

Fannie Mae - Wikipedia, the free encyclopedia

So while there were a "couple of" Republicans that got their hands dirty in this--there were 10 times more democrats that have everything to do with crashing this economy and leaving the American taxpayer holding the bag on their incompetence.
 
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Barnie Frank first recommended abolishing Fm and FM about a year ago.

6 months earlier he stated they play an important role in the economy.

See a pattern?


Well--it's an election year and Barney is in the HOT seat on this disaster. He knows it--and he's flip-flopping all over the place. If re-elected you can be certain he will be in Fannie/Freddie's corner because as one democrat polster stated. Fannie/Freddie have been the democrats "piggy banks" for YEARS.

For proof of that all one needs to do is look that the donor receipiants of Fannie/Freddie. Most all are democrats--and the money spent on them easily quadrooples the money that went to Republican candidates. In fact--it's almost embarrassing to be a democrat politician on this list--LOL
 
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Barney Frank has been...



yawn.


---http://mediamatters.org/research/200901080022
refute one fact:::::::: :lol::lol:


Additionally, as Media Matters for America has documented, Frank has supported efforts to strengthen oversight of Fannie and Freddie, including:

  • In 2005, Frank, then the ranking Democrat on the House Financial Services Committee, worked with committee chairman Rep. Michael Oxley (R-OH) on the Federal Housing Finance Reform Act of 2005, which would have established the Federal Housing Finance Agency (FHFA) to replace the Office of Federal Housing Enterprise Oversight (OFHEO) as overseer of the activities of Fannie Mae and Freddie Mac. After voting for the bill in committee, Frank voted against final passage of the bill on the House floor, stating that he was doing so because an amendment to the bill on the House floor imposed restrictions on the kinds of nonprofit organizations that could receive funding under the bill.

  • In early 2007, as chairman of the House Financial Services Committee, Frank sponsored H.R. 1427, a bill to create the FHFA, granting that agency "general supervisory and regulatory authority over" Fannie Mae and Freddie Mac, and directing it to reform the companies' business practices and regulate their exposure to credit and market risk. Among other things, Frank's legislation, titled the "Federal Housing Finance Reform Act of 2007," directed the FHFA director to "ensure" that Fannie Mae and Freddie Mac "operate[] in a safe and sound manner, including maintenance of adequate capital and internal controls" and to establish standards for "management of credit and counterparty risk" and "management of market risk." The FHFA was eventually created after Congress incorporated provisions that House Speaker Nancy Pelosi (D-CA) said were "similar" to those of H.R. 1427 into the Housing and Economic Recovery Act of 2008, which the president signed into law on July 30, 2008.
Indeed, in his profile, Toobin wrote:
In 2005, while the Democrats were still in the minority, Frank contributed to a bipartisan effort to put his objectives -- tighter regulation of Fannie and Freddie and new funds for rental housing -- into law. At the time, Fannie and Freddie were regulated by a small agency within the Department of Housing and Urban Development; the bill proposed to create an independent agency to monitor their operations. Frank and Michael Oxley, who was then chairman of the Financial Services Committee, achieved broad bipartisan support for the bill in the committee, and it passed the House. But the Senate never voted on the measure, in part because President Bush was likely to veto it. "If it had passed, that would have been one of the ways we could have reined in the bowling ball going downhill called housing," Oxley told me. "Barney, to some extent, is misunderstood -- with this image of him as a fierce partisan. He is an institutionalist. He believes in the House and in the process. He eschews the grandstanding style that so many members use and prefers to work behind the scenes and get something done."
Limbaugh falsely asserted "Banking Queen" Barney Frank "created" subprime mortgage crisis | Media Matters for America
 
Barney Frank has been...



yawn.


---http://mediamatters.org/research/200901080022
refute one fact:::::::: :lol::lol:


Additionally, as Media Matters for America has documented, Frank has supported efforts to strengthen oversight of Fannie and Freddie, including:

  • In 2005, Frank, then the ranking Democrat on the House Financial Services Committee, worked with committee chairman Rep. Michael Oxley (R-OH) on the Federal Housing Finance Reform Act of 2005, which would have established the Federal Housing Finance Agency (FHFA) to replace the Office of Federal Housing Enterprise Oversight (OFHEO) as overseer of the activities of Fannie Mae and Freddie Mac. After voting for the bill in committee, Frank voted against final passage of the bill on the House floor, stating that he was doing so because an amendment to the bill on the House floor imposed restrictions on the kinds of nonprofit organizations that could receive funding under the bill.

  • In early 2007, as chairman of the House Financial Services Committee, Frank sponsored H.R. 1427, a bill to create the FHFA, granting that agency "general supervisory and regulatory authority over" Fannie Mae and Freddie Mac, and directing it to reform the companies' business practices and regulate their exposure to credit and market risk. Among other things, Frank's legislation, titled the "Federal Housing Finance Reform Act of 2007," directed the FHFA director to "ensure" that Fannie Mae and Freddie Mac "operate[] in a safe and sound manner, including maintenance of adequate capital and internal controls" and to establish standards for "management of credit and counterparty risk" and "management of market risk." The FHFA was eventually created after Congress incorporated provisions that House Speaker Nancy Pelosi (D-CA) said were "similar" to those of H.R. 1427 into the Housing and Economic Recovery Act of 2008, which the president signed into law on July 30, 2008.
Indeed, in his profile, Toobin wrote:
In 2005, while the Democrats were still in the minority, Frank contributed to a bipartisan effort to put his objectives -- tighter regulation of Fannie and Freddie and new funds for rental housing -- into law. At the time, Fannie and Freddie were regulated by a small agency within the Department of Housing and Urban Development; the bill proposed to create an independent agency to monitor their operations. Frank and Michael Oxley, who was then chairman of the Financial Services Committee, achieved broad bipartisan support for the bill in the committee, and it passed the House. But the Senate never voted on the measure, in part because President Bush was likely to veto it. "If it had passed, that would have been one of the ways we could have reined in the bowling ball going downhill called housing," Oxley told me. "Barney, to some extent, is misunderstood -- with this image of him as a fierce partisan. He is an institutionalist. He believes in the House and in the process. He eschews the grandstanding style that so many members use and prefers to work behind the scenes and get something done."
Limbaugh falsely asserted "Banking Queen" Barney Frank "created" subprime mortgage crisis | Media Matters for America

Sounds like Franks had some pretty handy excuses. He was busy pushing the expansion of home buying for people without the means to pay. Good smoke screen to promote stricter regs.
 
Barney Frank has been...



yawn.


---http://mediamatters.org/research/200901080022
refute one fact:::::::: :lol::lol:


Additionally, as Media Matters for America has documented, Frank has supported efforts to strengthen oversight of Fannie and Freddie, including:

  • In 2005, Frank, then the ranking Democrat on the House Financial Services Committee, worked with committee chairman Rep. Michael Oxley (R-OH) on the Federal Housing Finance Reform Act of 2005, which would have established the Federal Housing Finance Agency (FHFA) to replace the Office of Federal Housing Enterprise Oversight (OFHEO) as overseer of the activities of Fannie Mae and Freddie Mac. After voting for the bill in committee, Frank voted against final passage of the bill on the House floor, stating that he was doing so because an amendment to the bill on the House floor imposed restrictions on the kinds of nonprofit organizations that could receive funding under the bill.

  • In early 2007, as chairman of the House Financial Services Committee, Frank sponsored H.R. 1427, a bill to create the FHFA, granting that agency "general supervisory and regulatory authority over" Fannie Mae and Freddie Mac, and directing it to reform the companies' business practices and regulate their exposure to credit and market risk. Among other things, Frank's legislation, titled the "Federal Housing Finance Reform Act of 2007," directed the FHFA director to "ensure" that Fannie Mae and Freddie Mac "operate[] in a safe and sound manner, including maintenance of adequate capital and internal controls" and to establish standards for "management of credit and counterparty risk" and "management of market risk." The FHFA was eventually created after Congress incorporated provisions that House Speaker Nancy Pelosi (D-CA) said were "similar" to those of H.R. 1427 into the Housing and Economic Recovery Act of 2008, which the president signed into law on July 30, 2008.
Indeed, in his profile, Toobin wrote:
In 2005, while the Democrats were still in the minority, Frank contributed to a bipartisan effort to put his objectives -- tighter regulation of Fannie and Freddie and new funds for rental housing -- into law. At the time, Fannie and Freddie were regulated by a small agency within the Department of Housing and Urban Development; the bill proposed to create an independent agency to monitor their operations. Frank and Michael Oxley, who was then chairman of the Financial Services Committee, achieved broad bipartisan support for the bill in the committee, and it passed the House. But the Senate never voted on the measure, in part because President Bush was likely to veto it. "If it had passed, that would have been one of the ways we could have reined in the bowling ball going downhill called housing," Oxley told me. "Barney, to some extent, is misunderstood -- with this image of him as a fierce partisan. He is an institutionalist. He believes in the House and in the process. He eschews the grandstanding style that so many members use and prefers to work behind the scenes and get something done."
Limbaugh falsely asserted "Banking Queen" Barney Frank "created" subprime mortgage crisis | Media Matters for America

My following post is based on the preceding tapes in this thread.

So.....We have the Leftiest of the Left Obamarrhoidal Lieberrhoid hacks DANTE come up with a rebuttal based on "EVIDENCE" manufactured by WHOM ?????

Answer: NONE OTHER THAN "MEDIA MATTERS for America".......WHO THE FUCK ELSE COULD A DANTE TURN TO HIS "FACTS" ?!?!?

Naturally, all the exonerating Media Matters BULLSHIT HAPPENS AFTER THE FACT.....

And, guess what ? The Dem BULLSHITTERS caught on tape are the typically vocal CORRUPT DEM congressmen from the CORRUPT Black (Racist) Congressional Caucus: Meeks, Davis........and would any DEM SCAM be complete without .....the LYING CRUNT Maxine Waters ???????........

And...... oh Yes !!!!!...... Almost forgot the CONSUMMATE Congressional DEM SCAM ARTISTE & BULLSHITTER....the queer BWANEY FRANK !!!!!!

ISN'T THE STENCH OVERWHELMING !!!!!

But, let's not just walk away from this DEM BULLSHIT that INUNDATED us for YEARS and YEARS blaming the Fannie and Freddie DISASTERS on...... DUBYA !!!!!

All the blame on Bush when Fannie and Freddie were the PIGGY BANK of the Dems...the Chairmen and CEO of BOTH these Corrupt institutions APPOINTED by the DEMS...

BTW.....Wasn't the almost COMICAL cartoon of Ultimate DECEIT: PELOSI......MAGNIFIQUE in her inimitable performance (complete with her usual disjointed hand gestures) blaming Bush and the Reps ???? The unmitigated and unadulterated pig !!!!

Some of the noticeable SCAMS of these Fannie & Freddie DEM APPOINTED Chairmen Raines and Davis : The biggest donations went to NUMERO UNO: The Senate Finance Committee Honcho Chris Dodd !!!! Numero DUO....who d'ya think ? ....... YEP... Barack Hussein OBAMA !!!! BTW, some obfuscating donations went to a few Republicans so's not to make the OBVIOUS ... too OBVIOUS !!!

And, incidentally......The Arrogant Obama Inner Circle even had the temerity to appoint Davis, the Chairman and CEO of Freddie as the TOP GUN on Obama's SELECTION COMMITTEE for the top appointments....And, not to be outdone....Franklin Raines, the CEO and Chairman of Fannie was the CHIEF ECONOMIC ADVISOR to Obama.....UNTIL.....until.....The SPOTLIGHT hit the BOTH of these SCOUNDRELS......and BOTH immediately EVAPORATED (albeit with HUNDREDS OF MILLIONS of our taxpayers money) !!!!!

Talk about SCAMS........ALL THESE YEARS THE CORRUPT DEMS.....INCLUDING THE MOST PATHOLOGICAL LIAR OF THEM ALL, BARACK HUSSEIN OBAMA WERE and ARE BLAMING DUBYA FOR OUR ECONOMIC CRISIS DUE TO 'NON-REGULATION".....when it is ON TAPE how Bush's spokesmen and the Republicans were CONSTANTLY SQUELCHED BY THE CORRUPT DEMS !!!!

Dante's BULLSHIT POST can be summed up by ONE hyphenated word: COVER-UP.
 
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Leftiest of the Left Obamarrhoidal Lieberrhoid hacks
WHO THE FUCK ELSE
the exonerating BULLSHIT
The Dem BULLSHITTERS CORRUPT DEM the CORRUPT Black (Racist) DEM SCAM LYING CRUNT CONSUMMATE Congressional DEM SCAM ARTISTE & BULLSHITTER....the queer
ISN'T THE STENCH OVERWHELMING !!!!!
DEM BULLSHIT that INUNDATED
noticeable SCAMS Barack Hussein OBAMA !!!! The Arrogant Obama BOTH of these SCOUNDRELS......Talk about SCAMS CORRUPT DEMS.....THE MOST PATHOLOGICAL LIAR OF THEM ALL, BARACK HUSSEIN OBAMA BULLSHIT POST

:lol: I paraphrased your post for you, guatama :lol:

I think you should take a break, man. :cuckoo:
 
yawn.


---http://mediamatters.org/research/200901080022
refute one fact:::::::: :lol::lol:


Additionally, as Media Matters for America has documented, Frank has supported efforts to strengthen oversight of Fannie and Freddie, including:

  • In 2005, Frank, then the ranking Democrat on the House Financial Services Committee, worked with committee chairman Rep. Michael Oxley (R-OH) on the Federal Housing Finance Reform Act of 2005, which would have established the Federal Housing Finance Agency (FHFA) to replace the Office of Federal Housing Enterprise Oversight (OFHEO) as overseer of the activities of Fannie Mae and Freddie Mac. After voting for the bill in committee, Frank voted against final passage of the bill on the House floor, stating that he was doing so because an amendment to the bill on the House floor imposed restrictions on the kinds of nonprofit organizations that could receive funding under the bill.

  • In early 2007, as chairman of the House Financial Services Committee, Frank sponsored H.R. 1427, a bill to create the FHFA, granting that agency "general supervisory and regulatory authority over" Fannie Mae and Freddie Mac, and directing it to reform the companies' business practices and regulate their exposure to credit and market risk. Among other things, Frank's legislation, titled the "Federal Housing Finance Reform Act of 2007," directed the FHFA director to "ensure" that Fannie Mae and Freddie Mac "operate[] in a safe and sound manner, including maintenance of adequate capital and internal controls" and to establish standards for "management of credit and counterparty risk" and "management of market risk." The FHFA was eventually created after Congress incorporated provisions that House Speaker Nancy Pelosi (D-CA) said were "similar" to those of H.R. 1427 into the Housing and Economic Recovery Act of 2008, which the president signed into law on July 30, 2008.
Indeed, in his profile, Toobin wrote:
In 2005, while the Democrats were still in the minority, Frank contributed to a bipartisan effort to put his objectives -- tighter regulation of Fannie and Freddie and new funds for rental housing -- into law. At the time, Fannie and Freddie were regulated by a small agency within the Department of Housing and Urban Development; the bill proposed to create an independent agency to monitor their operations. Frank and Michael Oxley, who was then chairman of the Financial Services Committee, achieved broad bipartisan support for the bill in the committee, and it passed the House. But the Senate never voted on the measure, in part because President Bush was likely to veto it. "If it had passed, that would have been one of the ways we could have reined in the bowling ball going downhill called housing," Oxley told me. "Barney, to some extent, is misunderstood -- with this image of him as a fierce partisan. He is an institutionalist. He believes in the House and in the process. He eschews the grandstanding style that so many members use and prefers to work behind the scenes and get something done."
Limbaugh falsely asserted "Banking Queen" Barney Frank "created" subprime mortgage crisis | Media Matters for America

So.....We have the Leftiest of the Left Obamarrhoidal Lieberrhoid hacks DANTE come up with a rebuttal based on "EVIDENCE" manufactured by WHOM ?????

Answer: NONE OTHER THAN MEDIA MATTERS for America.......WHO THE FUCK ELSE COULD A DANTE TURN TO HIS "FACTS" ?!?!?

Naturally, all the exonerating Media Matters BULLSHIT HAPPENS AFTER THE FACT.....

And, guess what ? The Dem BULLSHITTERS caught on tape are the typically vocal CORRUPT DEM congressmen from the CORRUPT Black (Racist) Congressional Caucus: Meeks, Davis........and would any DEM SCAM be complete without .....the LYING CRUNT Maxine Waters ???????........

And...... oh Yes !!!!!...... Almost forgot the CONSUMMATE Congressional DEM SCAM ARTISTE & BULLSHITTER....the queer BWANEY FRANK !!!!!!

ISN'T THE STENCH OVERWHELMING !!!!!

But, let's not just walk away from this DEM BULLSHIT that INUNDATED us for YEARS and YEARS blaming the Fannie and Freddie DISASTERS on...... DUBYA !!!!!

All the blame on Bush when Fannie and Freddie were the PIGGY BANK of the Dems...the Chairmen and CEO of BOTH these Corrupt institutions APPOINTED by the DEMS...

BTW.....Wasn't the almost COMICAL cartoon of Ultimate DECEIT: PELOSI......MAGNIFIQUE in her inimitable performance (complete with her usual disjointed hand gestures) blaming Bush and the Reps ???? The unmitigated and unadulterated pig !!!!

Some of the noticeable SCAMS of these Fannie & Freddie DEM APPOINTED Chairmen Raines and Davis : The biggest donations went to NUMERO UNO: The Senate Finance Committee Honcho Chris Dodd !!!! Numero DUO....who d'ya think ? ....... YEP... Barack Hussein OBAMA !!!! BTW, some obfuscating donations went to a few Republicans so's not to make the OBVIOUS ... too OBVIOUS !!!

And, incidentally......The Arrogant Obama Inner Circle even had the temerity to appoint Davis, the Chairman and CEO of Freddie as the TOP GUN on Obama's SELECTION COMMITTEE for the top appointments....And, not to be outdone....Franklin Raines, the CEO and Chairman of Fannie was the CHIEF ECONOMIC ADVISOR to Obama.....UNTIL.....until.....The SPOTLIGHT hit the BOTH of these SCOUNDRELS......and BOTH immediately EVAPORATED (albeit with HUNDREDS OF MILLIONS of our taxpayers money) !!!!!

Talk about SCAMS........ALL THESE YEARS THE CORRUPT DEMS.....INCLUDING THE MOST PATHOLOGICAL LIAR OF THEM ALL, BARACK HUSSEIN OBAMA WERE and ARE BLAMING DUBYA FOR OUR ECONOMIC CRISIS DUE TO 'NON-REGULATION".....when it is ON TAPE how Bush's spokesmen and the Republicans were CONSTANTLY SQUELCHED BY THE CORRUPT DEMS !!!!

Dante's BULLSHIT POST can be summed up by ONE hyphenated word: COVER-UP.
So, in other words you can't refute the facts presented so you'll just post some drivel?
 
Barney Frank and the Dems lie, American housing markets died.

"These two entities—Fannie Mae and Freddie Mac—are not facing any kind of financial crisis," -- Representative Barney Frank
 

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