Conservative Harvard student challenges Barney Frank on the financial crisis

[rdean]

The only people still accusing Freddie/Fannie for the housing collapse are Republicans who start threads on the

 

[rightwinger]

FRANK: I think you're being disingenuous.

I became chairman on January -- and this is the right-wing attack on liberals to try and stop regulation that you are repeating. On January 31st, I became the chairman. On March 28th, the committee passed a very tough Fannie/Freddie bill, which the Bush administration liked. Later that year in November, we passed a bill to restrict subprime lending. Because we did the subprime lending restrictions, Ben Bernanke, the chairman of the Federal Reserve, did what Alan Greenspan refused to do and said, OK, I'll do that.

Wow...talk about a fizzle of a smoking gun

Frank became chairman in Jan 2007 and the financial collapse of the housing market began in June 2007. Thats six months for millions of loans to be written and go into default. Almost magical the way none of those loans were written while Republicans chaired the committee