View attachment 801272
Hey FAUXNY... YOU are a liar!
NOT one link from you to prove YOUR totally unsubstantiated statements! Why can't you do what I do... a little research???
WHERE ARE YOUR FACTS..FAUXNY?
Obviously you never heard of the
Dodd-Frank Act!
"Barney Frank Used Influence with Fannie Mae, the Failed Mortgage Giant Bailed Out by Taxpayers"
Former House Banking Committee Chairman Barney Frank (D-Mass.) tenaciously opposed efforts to reform Fannie Mae and Freddie Mac,
the government-sponsored mortgage giants that were bailed out at a cost to taxpayers of between $148 billion and $363 billion.
Now it turns out that he got his boyfriend a “handsomely rewarded gig at Fannie Mae” while Frank “was helping to inflate the housing bubble” by pushing affordable housing mandates and policies that encouraged Fannie Mae to buy up risky mortgages.
(Rep. Barney Frank Admits to Helping Ex-Lover Land Job at Fannie Mae
Frank, who was a junior member of the House Financial Services Committee at the time, said he told the executive that he thought Moses would be "great" for the "entry-level position.")
Rep. Barney Frank says there was no conflict of interest in him helping his former lover secure a job with Fannie Mae 20 years ago while he was on the committee charged with overseeing the lending giant.
www.foxnews.com
Fannie Mae and Freddie Mac engaged in massive accounting fraud and other abuses.
But Fannie Mae’s collapse was not entirely due to bad policies of its own making.
Pressure from liberal lawmakers like Barney Frank to buy up risky mortgages was also a factor in triggering the mortgage crisis, judging from a story in the New York Times. For example, “a high-ranking Democrat telephoned executives and screamed at them to purchase more loans from low-income borrowers, according to a Congressional source.”
The executives of government-backed mortgage giants Fannie Mae and Freddie Mac “eventually yielded to those pressures, effectively wagering that if things got too bad, the government would bail them out.”
Despite his key role in causing the financial crisis, Frank became even more influential after President Obama took office. As the New York Times noted, the massive financial overhaul later passed in response to the financial crisis is “largely the product of extensive conversations” between the Obama administration and “Representative Barney Frank of Massachusetts and Senator Christopher J. Dodd of Connecticut.”
That law, known as the Dodd-Frank Act, harms the economy, and violates both the Constitution’s separation of powers, and private property and equal-protection rights.
Frank’s co-sponsor of the Dodd-Frank Act, Senator Chris Dodd, left office in disgrace after ethical lapses.
Former House Banking Committee Chairman Barney Frank (D-Mass.) tenaciously opposed efforts to reform Fannie Mae and Freddie Mac, the government-sponsored mortgage giants that were bailed out at a cost to taxpayers of between $148 billion and $363 billion. Now it turns out that he got his...
cei.org
BUT NOTE Barney Frank in 2021 he re-canted his support for Fannie and Freddie MAE!!
Just to repeat this is what Barney said in 2021.... after he and his boyfriend profited !
...in a recent CNBC interview, Frank told me that he was ready to say goodbye to Fannie and Freddie.
"I hope by next year we'll have abolished Fannie and Freddie," he said. Remarkable. And he went on to say that
"it was a great mistake to push lower-income people into housing they couldn't afford and couldn't really handle once they had it."
He then added, "I had been too sanguine about Fannie and Freddie."
Can you teach an old dog new tricks? In politics, the answer is usually no. Most elected officials cling to their ideological biases, despite the real-world facts that disprove their theories time...
www.realclearpolitics.com
So Fauxny....get some facts before you walk out on the limb with NO support!