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

[8537]

So, NOW, the negroids who constitute ~13% of the population of America.....and thereby with a MONOLITHIC VOTE of ~13 % of the TOTAL American vote......are THE MAIN REASON the Democratic Party exists !!!!

The CORRUPT Dem Party knows this.

The CORRUPT Congressional Black (Racist) Caucus knows this.

The negroid voters know this.

Negroid? Welcome to 1935.

 

[Procrustes Stretched]

Barney Frank has been...

yawn.


---http://mediamatters.org/research/200901080022

refute one fact::::::::


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

The facts vs the out of context arguments of right wing dolts and their handmaidens.

 

[gautama]

yawn.


---http://mediamatters.org/research/200901080022

refute one fact::::::::


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

Reasons to ignore the above "Media Matters" BULLSHIT:

1) It's from MEDIA MATTERS the slimiest, Most FLAGRANTLY EXPOSED mouthpiece of the Leftiest of the Left Obamarrhoidal LIEberrhoid Organizations with an INCREDIBLE record of the MOST DISCREDITED NON-CREDIBLE BULLSHIT !

It would take a dozen, or so threads..... just to BEGIN to criticize all it's DISTORTIONS and OUTRIGHT LIES. Getting into a "discussion" with one of the subscribers of said PIECE OF SHIT, i.e. One of the leftiest Obamarrhoidal LIEbtard stooges, i.e. Dante (Dem's representative from Hell) is like trying to reason with Hitler about Hitler.

2) All these TRANSPARENT attempts at OBFUSCATINGthe Truth about Fannie & Freddie by these Obamarrhoidal LIEberrhoids are AFTER THE FACT.......

It is UTTERLY DISENGENUOUS to even ATTEMPT to try to expect any CREDIBILITY from bothering to even read the UNMITIGATED and UNADULTERATED FANTASIES concocted by these ESTABLISHED DECEITFUL Obamarrhoidal LIEberrhoids like Bwaney Frank.....and especially the OTHER Queen of Obamarrhoidal LIEbtards....Who gave a MAGNIFICENT performance ON TAPE of a CARTOON-LIKE exhibition of MENDACITY IN ACTION.

To summarize: "AFTER THE FACT" BULLSHIT IS EVEN MORE MALADOROUS THAN BULLSHIT !!!

 

[Procrustes Stretched]

refute one fact::::::::


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

Reasons to ignore the above "Media Matters" BULLSHIT:

1) It's from MEDIA MATTERS...

so you cannot challenge one fact/point?

 

[gautama]

So, NOW, the negroids who constitute ~13% of the population of America.....and thereby with a MONOLITHIC VOTE of ~13 % of the TOTAL American vote......are THE MAIN REASON the Democratic Party exists !!!!

The CORRUPT Dem Party knows this.

The CORRUPT Congressional Black (Racist) Caucus knows this.

The negroid voters know this.

Negroid? Welcome to 1935.

Keep up with the FACTS, fool.

Howszabout the usage of NEGRO by Black Racist Gates of Obami Salami's Cop-hatred fame.....or Jarrett, one of the top advisors of your semi-NEGRO Messiah:

"Gates, H.L., Jr. and Jarrett, G.A., eds.: The New Negro: Readings ... Description
Jul 25, 2010 .."

Or, a more known use of "NEGRO" :

"United NEGRO College Fund"......for example.

 

[oreo]

refute one fact::::::::


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

Reasons to ignore the above "Media Matters" BULLSHIT:

1) It's from MEDIA MATTERS the slimiest, Most FLAGRANTLY EXPOSED mouthpiece of the Leftiest of he Left Obamarrhoidal LIEberrhoid Organizations with an INCREDIBLE record of the MOST DISCREDITED NON-CREDIBLE BULLSHIT !

It would take a dozen, or so threads..... just to BEGIN to criticize all it's DISTORTIONS and OUTRIGHT LIES. Getting into a "discussion" with one of the subscribers of said PIECE OF SHIT, i.e. One of the leftiest Obamarrhoidal LIEbtard stooges, i.e. Dante (Dem's representative from Hell) is like trying to reason with Hitler about Hitler.

2) All these TRANSPARENT attempts at OBFUSCATINGthe Truth about Fannie & Freddie by these Obamarrhoidal LIEberrhoids are AFTER THE FACT.......

It is UTTERLY DISENGENUOUS to even ATTEMPT to try to expect any CREDIBILITY from bothering to even read the UNMITIGATED and UNADULTERATED FANTASIES concocted by these ESTABLISHED DECEITFUL Obamarrhoidal LIEberrhoids like Bwaney Frank.....and especially the Queen of Obamarrhoidal LIEbtards....Who gave a MAGNIFICENT performance ON TAPE of a CARTOON-LIKE exhibition of MENDACITY IN ACTION.

To summarize: "AFTER THE FACT" BULLSHIT IS EVEN MORE MALADOROUS THAN BULLSHIT !!!

Hey--I wouldn't worry about it--we have the VIDEOS--and NO ONE can refute these or try to re-write history. The first video with Republicans wanting more regulation and asking questions while democrats are stating they don't need any--and with BILL CLINTON of all people at the end of this video blaming his own party--(democrats) for not listening to the warnings from Republicans--and the regulator in this video. Democrats "trashed" the regulator's warnings.

[ame=http://www.youtube.com/watch?v=_MGT_cSi7Rs]YouTube - Shocking Video Unearthed Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis[/ame]


And the below video where Barney Frank in 2005 is actually admitting that he is fully aware that there was concern about a housing bubble--while he is stating there is no housing bubble--nor will there ever be--

VIDEO TAPE DOESN'T LIE--lol

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

 

[gautama]

Reasons to ignore the above "Media Matters" BULLSHIT:

1) It's from MEDIA MATTERS...

so you cannot challenge one fact/point?

Already answered.

If you don't know how to read with understanding.....get a brain transplant.

You'd be surprised how wonderful life can be without drowning in Obamarrhoidal LIEberrhoid BULLSHIT.

 

[Flopper]

I have always felt that a flip flop by a politician can be good thing. Too many of our political leaders will stand by their position no matter how stupid it might be. Changing your position when you see evidence that there is a better alternative is the smart thing to do. Unfortunately, few political leaders are will to change their position in fear being label a flip flopper.

If we abolish Fannie and Freddie, who will make a secondary market for mortgages? I would think without a secondary market, there would be a lot less mortgages written which would mean less homes being sold and big hit on construction and jobs.

 

[saveliberty]

I have always felt that a flip flop by a politician can be good thing. Too many of our political leaders will stand by their position no matter how stupid it might be. Changing your position when you see evidence that there is a better alternative is the smart thing to do. Unfortunately, few political leaders are will to change their position in fear being label a flip flopper.

If we abolish Fannie and Freddie, who will make a secondary market for mortgages? I would think without a secondary market, there would be a lot less mortgages written which would mean less homes being sold and big hit on construction and jobs.

The day after the election its flop back to business as usual.

 

[asterism]

Frank is as gay as they come, but I don't think he's a black pimp. Or am I misunderstanding the reference?

 

[Procrustes Stretched]

VIDEO TAPE DOESN'T LIE--lol

out of context video distorts.

just ask anyone with brain cells

 

[Procrustes Stretched]

still no challenge to the facts posted.

oh well


outta here


leave the troll thread

 

[Misty]

Barney Frank is disgusting and a horrible representation of a gay democrat.

I would think gays would want this guy gone.

He's an embarrassment to homosexuality.

 

[gautama]

I have always felt that a flip flop by a politician can be good thing. Too many of our political leaders will stand by their position no matter how stupid it might be. Changing your position when you see evidence that there is a better alternative is the smart thing to do. Unfortunately, few political leaders are will to change their position in fear being label a flip flopper.

If we abolish Fannie and Freddie, who will make a secondary market for mortgages? I would think without a secondary market, there would be a lot less mortgages written which would mean less homes being sold and big hit on construction and jobs.

Another disengenuous Obamarrhoidal LIEberhhoid PLOY to justify "saving one's arse" procedure.

AS YOU DAMN WELL KNOW: It's one thing to change course when one realizes one is on the wrong path.....and admit it.

No one is arguing that point because it's a manifestly laudable and sensible act.

BUT.......

What you, as a Obamarrhoidal LIEbtard, are trying to do is to MISDIRECT and OBFUSCATE what a PHONEY-BALONEY CONSUMMATE LIEBERRHOID POLITICO, the fucking queer Bwaney Frank is.......in attempting to do.......AND THAT IS TO LIE....and DISTORT the RECORD by stating (repeatedly) that he (and the other Dems) were CHAMPIONS of more REGULATION.....BEFORE THE FACT, i.e. BEFORETHE F&F DISASTER that almost destroyed America's ECONOMY !!!!

And that is where THE INCRIMINATING TAPES of Bwaney Frank .....and the other CORRUPT Congressional Black (Racist) Caucus members expose their OBVIOUS COMPLICITY in the F&F DISASTER.

These INCRIMINATING TAPES also put an end to the CONTINUOUS DISTORTIONS and OUTRIGHT LIES by Obama and the Dems like that MENDACIOUS CRUNT PELOSI.... BLAMING BUSH and the REPUBLICANS FOR THE F&F DISASTER BECAUSE OF A LACK OF "REGULATION" when it is MANIFESTLY OBVIOUS from these INCRIMINATING TAPES that it was the DEMS, and ESPECIALLY the Financial HOUSE Honcho BWANEY FRANK...... that were responsible for SQUELCHING the Republican sought for "REGULATION".

In spite of your Obamarrhoidal LIEberrhoid disengenuous TRANSPARENT efforts.......the DEM COVER-UP is now an UNMITIGATED and an UNADULTERATED FACT !!!

 

[gautama]

I have always felt that a flip flop by a politician can be good thing. Too many of our political leaders will stand by their position no matter how stupid it might be. Changing your position when you see evidence that there is a better alternative is the smart thing to do. Unfortunately, few political leaders are will to change their position in fear being label a flip flopper.

If we abolish Fannie and Freddie, who will make a secondary market for mortgages? I would think without a secondary market, there would be a lot less mortgages written which would mean less homes being sold and big hit on construction and jobs.

No one is arguing that SOME aspects of F&F might be of use.

 

[asterism]

I have always felt that a flip flop by a politician can be good thing. Too many of our political leaders will stand by their position no matter how stupid it might be. Changing your position when you see evidence that there is a better alternative is the smart thing to do. Unfortunately, few political leaders are will to change their position in fear being label a flip flopper.

If we abolish Fannie and Freddie, who will make a secondary market for mortgages? I would think without a secondary market, there would be a lot less mortgages written which would mean less homes being sold and big hit on construction and jobs.

Another disengenuous Obamarrhoidal LIEberhhoid PLOY to justify "saving one's arse" procedure.

AS YOU DAMN WELL KNOW: It's one thing to change course when one realizes one is on the wrong path.....and admit it.

No one is arguing that point because it's a manifestly laudable and sensible act.

BUT.......

What you, as a Obamarrhoidal LIEbtard, are trying to do is to MISDIRECT and OBFUSCATE what a PHONEY-BALONEY CONSUMMATE LIEBERRHOID POLITICO, the fucking queer Bwaney Frank is.......in attempting to do.......AND THAT IS TO LIE....and DISTORT the RECORD by stating (repeatedly) that he (and the other Dems) were CHAMPIONS of more REGULATION.....BEFORE THE FACT, i.e. BEFORETHE F&F DISASTER that almost destroyed America's ECONOMY !!!!

And that is where THE INCRIMINATING TAPES of Bwaney Frank .....and the other CORRUPT Congressional Black (Racist) Caucus members expose their OBVIOUS COMPLICITY in the F&F DISASTER.

These INCRIMINATING TAPES also put an end to the CONTINUOUS DISTORTIONS and OUTRIGHT LIES by Obama and the Dems like that MENDACIOUS CRUNT PELOSI.... BLAMING BUSH and the REPUBLICANS FOR THE F&F DISASTER BECAUSE OF A LACK OF "REGULATION" when it is MANIFESTLY OBVIOUS from these INCRIMINATING TAPES that it was the DEMS, and ESPECIALLY the Financial HOUSE Honcho BWANEY FRANK...... that were responsible for SQUELCHING the Republican sought for "REGULATION".

In spite of your Obamarrhoidal LIEberrhoid disengenuous TRANSPARENT efforts.......the DEM COVER-UP is now an UNMITIGATED and an UNADULTERATED FACT !!!

I get your point, and time will tell. As others have suggested, this could be just an election ploy. But being the optimist I am, I'm ok with moving forward with his latest statements and previous record to show that this was the wrong thing. His role in this game was significant, especially in 2005, but it was minor. There is plenty of blame to go wrong. I could always depend on the Democratic Party to go left, what I didn't anticipate was the Republican Party to go left also. They could have stopped this bullshit in its tracks in 2005. They didn't.

We have a chance to set things right, and that isn't accomplished by putting the same bozos back in charge, nor is it accomplished by buying the new line of bullshit McCain and his ilk are selling.

Keep that in mind.

 

[Flopper]

refute one fact::::::::


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

Reasons to ignore the above "Media Matters" BULLSHIT:

1) It's from MEDIA MATTERS the slimiest, Most FLAGRANTLY EXPOSED mouthpiece of the Leftiest of the Left Obamarrhoidal LIEberrhoid Organizations with an INCREDIBLE record of the MOST DISCREDITED NON-CREDIBLE BULLSHIT !

It would take a dozen, or so threads..... just to BEGIN to criticize all it's DISTORTIONS and OUTRIGHT LIES. Getting into a "discussion" with one of the subscribers of said PIECE OF SHIT, i.e. One of the leftiest Obamarrhoidal LIEbtard stooges, i.e. Dante (Dem's representative from Hell) is like trying to reason with Hitler about Hitler.

2) All these TRANSPARENT attempts at OBFUSCATINGthe Truth about Fannie & Freddie by these Obamarrhoidal LIEberrhoids are AFTER THE FACT.......

It is UTTERLY DISENGENUOUS to even ATTEMPT to try to expect any CREDIBILITY from bothering to even read the UNMITIGATED and UNADULTERATED FANTASIES concocted by these ESTABLISHED DECEITFUL Obamarrhoidal LIEberrhoids like Bwaney Frank.....and especially the Queen of Obamarrhoidal LIEbtards....Who gave a MAGNIFICENT performance ON TAPE of a CARTOON-LIKE exhibition of MENDACITY IN ACTION.

To summarize: "AFTER THE FACT" BULLSHIT IS EVEN MORE MALADOROUS THAN BULLSHIT !!!

I am not trying to argue about anything. I just raised the question that if we did away with Fannie and Freddie who would be making the secondary market for mortgages. After reading your previous post, I rather doubt I'm going to get an intelligent answer.

 

[asterism]

Reasons to ignore the above "Media Matters" BULLSHIT:

1) It's from MEDIA MATTERS the slimiest, Most FLAGRANTLY EXPOSED mouthpiece of the Leftiest of the Left Obamarrhoidal LIEberrhoid Organizations with an INCREDIBLE record of the MOST DISCREDITED NON-CREDIBLE BULLSHIT !

It would take a dozen, or so threads..... just to BEGIN to criticize all it's DISTORTIONS and OUTRIGHT LIES. Getting into a "discussion" with one of the subscribers of said PIECE OF SHIT, i.e. One of the leftiest Obamarrhoidal LIEbtard stooges, i.e. Dante (Dem's representative from Hell) is like trying to reason with Hitler about Hitler.

2) All these TRANSPARENT attempts at OBFUSCATINGthe Truth about Fannie & Freddie by these Obamarrhoidal LIEberrhoids are AFTER THE FACT.......

It is UTTERLY DISENGENUOUS to even ATTEMPT to try to expect any CREDIBILITY from bothering to even read the UNMITIGATED and UNADULTERATED FANTASIES concocted by these ESTABLISHED DECEITFUL Obamarrhoidal LIEberrhoids like Bwaney Frank.....and especially the Queen of Obamarrhoidal LIEbtards....Who gave a MAGNIFICENT performance ON TAPE of a CARTOON-LIKE exhibition of MENDACITY IN ACTION.

To summarize: "AFTER THE FACT" BULLSHIT IS EVEN MORE MALADOROUS THAN BULLSHIT !!!

I am not trying to argue about anything. I just raised the question that if we did away with Fannie and Freddie who would be making the secondary market for mortgages. After reading your previous post, I rather doubt I'm going to get an intelligent answer.

What is the need for a government forced secondary market? Is that even a secondary "market?"

 

[KissMy]

We don't need Fannie & Freddie. When home prices get low enough people will buy them. Who cares if house values plummet. A house is not a retirement account or something to gain equity so you can pull out equity in order to pay off credit cards. Houses are to live in or rent out for earned income. Monetizing homes only leads to inflation.

 

[oreo]

We don't need Fannie & Freddie. When home prices get low enough people will buy them. Who cares if house values plummet. A house is not a retirement account or something to gain equity so you can pull out equity in order to pay off credit cards. Houses are to live in or rent out for earned income. Monetizing homes only leads to inflation.

Typically homeownership is a person's largest investment. Americans buy homes as an investment to either live in a few years so they can sell--make a down payment for a larger home, etc. To add--if property values never went up--why not just rent the rest of your life?

But--standard lending practices in place requiring down payments--collateral--a good credit rating--and qualifiying at conventional fixed rates would have saved us from this economic collapse.

The way it was--someone who was renting who had to put a deposit down on that rental--lost more money when they walked out on their lease--than someone who bought a 500K custom home--with no down payment or collateral required. The problem--We the American taxpayer co-signed that loan. In fact 50% of the mortgages in this country are co-signed by us--"without" our permission.