Barney Frank's Revisionist History

[Toro]

As fun as it is to point out Republican hypocrisy, it is more than a tad disingenuous to steer the blame for the collapse of Freddie and Fannie to the Republicans and away from the Democrats.

Barney Frank Hypocrisy Hits New Record After Saying Republicans Ought To Be Embarrassed About Fannie And Freddie | zero hedge

Barney Frank asks, "What housing bubble?" LOL

[youtube]iW5qKYfqALE[/youtube]

 

[Si modo]

Here is an interesting compilation of the committee discussions:
[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]

Frank, Meeks, Waters, Clay, et al said 'no' to more regulations in 2004, when it was still fixable. So did Bubba.

 

[manifold]

No FAMILY!

That rule is pretty clear cut. And in case you didn't know, Rep. Frank is Dahntay's life partner.

I'm sure he'll be here soon to defend the love of his life from such fair and legitimate criticism.

 

[rdean]

You know what this reminds me of? Iraq. Remember, Saddam WMDs slam dunk? Saddam meeting in secret with al Qaeda?

So go to "Forbes".

Does Goldman case tarnish Cassandras of the crash? - Forbes.com

The Media:

S.E.C. Sues Goldman Over Housing Market Deal - NYTimes.com

Businessweek:

Levin's panel sheds light on collapse [Detroit Free Press] - BusinessWeek

And where is the mention of "Freddie/Fannie", much less "Barney Frank"?

And it's so funny how you guys twist things or just plain get them wrong.

Because of the accounting scandal you guys showed in your clips, Freddie/Fannies stopped supplying mortgages. At least when they gave out a mortgage, you had to have a job and show you could repay it.

Because of Republican deregulation, the mortgage market moved to Wall Street, where they were bundled together and sold overseas as "securities". Those securities were "insured". When they "failed", insurance payments were the cause of "record profits".

Can you guys speculate how Wall Street made billions from "Freddie/Fannie"? Go on, give me a good laugh. I like laughing at you guys.

Those "payments" are referred to as "derivatives". That is the entire basis of the collapse.

I would love to have you guys explain it to me. Make sure you cover all the bases.

Derivatives
How derivatives work
How Wall Street made billions
Why no one mentioned that Freddie/Fannie sold bundled mortgages overseas as "securities"
Why Barney Frank isn't mentioned in the news, not even by Fox
Why no connection has been made between "Freddie/Fannie" and Wall Street

This should be fascinating. This thread belongs under "conspiracy".

So go for it. Tell us all about it. Can't wait.

 

[Oddball]

If you can't dazzle 'em with brilliance.....

 

[rdean]

If you can't dazzle 'em with brilliance.....

Deep.

 

[manifold]

If you can't dazzle 'em with brilliance.....

Deep.

I'll take his shallow clichés over your deep bullshit anyday.

 

[rdean]

If you can't dazzle 'em with brilliance.....

Deep.

I'll take his shallow clichés over your deep bullshit anyday.

You mean over the evidence. You have nothing to refute it with. Nothing.

 

[RetiredGySgt]

Deep.

I'll take his shallow clichés over your deep bullshit anyday.

You mean over the evidence. You have nothing to refute it with. Nothing.

Ya nothing at all. Well except that Frank and Dodd on 3 different occasions STOPPED cold any attempt to re regulate Fannie and Freddie. Nothing at all except that a month or so before the collapse Barney Frank was on NATIONAL TV INSISTING that the Housing MArket was perfectly sound and safe and the ONLY danger to it was Governmenht attempts to further Regulate it.

Yup we got nothing.

 

[manifold]

Deep.

I'll take his shallow clichés over your deep bullshit anyday.

You mean over the evidence. You have nothing to refute it with. Nothing.

The next time I see you swayed by factual evidence will be the first.

^^Truth^^

 

[xsited1]

Barney Frank's Revisionist History

 

[rdean]

I'll take his shallow clichés over your deep bullshit anyday.

You mean over the evidence. You have nothing to refute it with. Nothing.

Ya nothing at all. Well except that Frank and Dodd on 3 different occasions STOPPED cold any attempt to re regulate Fannie and Freddie. Nothing at all except that a month or so before the collapse Barney Frank was on NATIONAL TV INSISTING that the Housing MArket was perfectly sound and safe and the ONLY danger to it was Governmenht attempts to further Regulate it.

Yup we got nothing.

The only ones blaming the housing collapse on Freddie/Fannie are those on this board. You guys have once again been taken in by your parties lies. Why keep holding on to them?
Throw the lie away along with "death panels" and "WMDs" and "kill grandma".
You guys have to start being skeptical of the lies NOT the truth.

 

[boedicca]

Financial reform which doesn't include Fannie Mae and Freddie Mac is a joke.

We've bailed them out for $400B, more than was given to all banks combined. They should be dismantled and privatized. Socializing risk and privatizing profit is The Cause of the crisis - and FM/FM were at the nexus of that noxious mess

 

[boedicca]

The only ones blaming the housing collapse on Freddie/Fannie are those on this board. You guys have once again been taken in by your parties lies. Why keep holding on to them?
Throw the lie away along with "death panels" and "WMDs" and "kill grandma".
You guys have to start being skeptical of the lies NOT the truth.

Apparently, you do not read anything other than this board and pure moonbat publications.

The role of FM/FM has been widely analyzed by economic, financial, and business analysts, and the results are not favorable.

 

[rdean]

The only ones blaming the housing collapse on Freddie/Fannie are those on this board. You guys have once again been taken in by your parties lies. Why keep holding on to them?
Throw the lie away along with "death panels" and "WMDs" and "kill grandma".
You guys have to start being skeptical of the lies NOT the truth.

Apparently, you do not read anything other than this board and pure moonbat publications.

The role of FM/FM has been widely analyzed by economic, financial, and business analysts, and the results are not favorable.

No one said FM/FM shouldn't be "reformed". I'm all for proper regulation.

But they were NOT the cause of the collapse. Deregulating Wall Street was the cause which I outlined in a previous post which also explained how to make money from derivatives.

I even added links which no one else is doing. If you repeat it and can't "prove" it, then it's a lie.

And just to make sure I understand; Forbes, the New York Times and Businessweek are "Moonbat" publications?

 

[Oddball]

The only people saying Fannie/Freddie weren't an integral part of the collapse are party man hack moonbats like you, who blame everything, up to and including ring-around-the-collar, on republicans in general and BOOOOOOOOOSH! in particular.

 

[Paulie]

Financial reform which doesn't include Fannie Mae and Freddie Mac is a joke.

We've bailed them out for $400B, more than was given to all banks combined. They should be dismantled and privatized. Socializing risk and privatizing profit is The Cause of the crisis - and FM/FM were at the nexus of that noxious mess

Let's not forget about the Fed's 1.25 trillion in agency MBS purchases.

 

[Procrustes Stretched]

Financial reform which doesn't include Fannie Mae and Freddie Mac is a joke.

We've bailed them out for $400B, more than was given to all banks combined. They should be dismantled and privatized. Socializing risk and privatizing profit is The Cause of the crisis - and FM/FM were at the nexus of that noxious mess

You are confusing the financial system's collapse with the housing market.

par for the course

 

[Procrustes Stretched]

The only people saying Fannie/Freddie weren't an integral part of the collapse are party man hack moonbats like you, who blame everything, up to and including ring-around-the-collar, on republicans in general and BOOOOOOOOOSH! in particular.

I know, you are always posing as a housing and a financial expert on things...yawn...

The case refuting your bullshit has been laid out so many times it's ridiculous to try and rewrite the book.

here is a great synopsis:

I continue to hear a number of commentators blame the entire collapse on Fannie Mae. Like the prior group of cads who tried to blame the collapse on the CRA, this one tends to come from political hacks seeking to avoid responsibility for their past errors.

There certainly are legitimate criticisms of the GSEs — they were cesspool of fraud and bad judgment — which is why we told clients in 2007 to short Fannie Mae. And several academics and independent analysts have excoriated Fannie for its failings, separately from and long before the economic collapse.

But I digress. Here is my Fannie Mae thought experiment:

Fannie Mae/Freddie Mac Thought Experiment II | The Big Picture

So the person above goes and lays it out...

"The Facts: Its 1995, and the private securitization market..."

"The Hypothetical Counter-Factual: So the CEO of Fannie announces they were going to sell off their mortgage portfolio..."

The person asks a few questions...

"Would the Housing boom and bust have occurred? What about the credit bubble? Derivative crisis? Abdication of lending standards? Leverage increases to Wall Street? Misaligned Compensation packages?"

They then go on to say: "Unless your answer is NO to all of these, than its impossible to blame Fannie Mae for the collapse ."

I've read the replies/conversations: Fannie Mae/Freddie Mac Thought Experiment II | The Big Picture

Funny, you appear to be such a lightweight hack when put beside people well versed on the system and the collapse. You're not only a lightweight hack, you're full of shit.

 

[Procrustes Stretched]

No FAMILY!

That rule is pretty clear cut. And in case you didn't know, Rep. Frank is Dahntay's life partner.

I'm sure he'll be here soon to defend the love of his life from such fair and legitimate criticism.

Barney is quite capable of defending himself. Not many people and especially you, would have the balls to go face to face with the man in a debate let alone an insult session. Unlike Dude, you're not a lightweight hack, you're just a lightweight who has his moments. The less said by you the greater your mystique among the prols here...the more you say...well let us just say this small pond has proved long ago to be too big for your bullshit games.