These bastards [Christopher Dodd (D-CT) and Barney Frank (D-MA)] were two of the biggest protectors and enforcers of the Community Reinvestment Act which forced financial institutions to flood the housing market with sub-prime loans, thereby causing an inevitable Ponzi-scheme bubble that had to burst and take down the economy with it.
In order to cover their tracks, Dodd and Frank came up with a fictitious story that this was all to do with "Wall Street Greed" (never mind that their Democrat-appointed buddies at Fannie and Freddie were paid hundreds of millions of dollars in bonuses for buying up these loans and giving them a false appearance of legitimacy).
To add credibility to this fiction, they introduced a bill to "regulate" the same banks they had forced to make these bad loans in the first place. The Democrat Congress then passed this bill in 2010 (just before the voters threw them out). With Obama to protect it, the regulations authorized by this bill have hamstrung economic recovery and expansion for the past six years.
The sooner we get rid of these vestiges of political deception, the better.
In order to cover their tracks, Dodd and Frank came up with a fictitious story that this was all to do with "Wall Street Greed" (never mind that their Democrat-appointed buddies at Fannie and Freddie were paid hundreds of millions of dollars in bonuses for buying up these loans and giving them a false appearance of legitimacy).
To add credibility to this fiction, they introduced a bill to "regulate" the same banks they had forced to make these bad loans in the first place. The Democrat Congress then passed this bill in 2010 (just before the voters threw them out). With Obama to protect it, the regulations authorized by this bill have hamstrung economic recovery and expansion for the past six years.
The sooner we get rid of these vestiges of political deception, the better.