Barney Frank! Barney Frank!

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    Sep 26, 2008 8:49 PM GMT
    Just wanted to point out that one of the key players in fixing the current financial crisis is the openly gay Democratic Member of Congress from Massachusetts, Barney Frank. As Chair of the Financial Services Committee he has the lead role on the House side of Congress for resolving this current mess, that previous Republican Congresses and the Bush Administration got us into. His counterpart in the Senate is Democrat Christopher Dodd of Connecticut.

    I'm rather proud that one of our "family" is such a key player. I wish him and our country the best.
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    Sep 27, 2008 3:26 AM GMT
    He's doing a great job. Bravo to him.
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    Sep 27, 2008 3:44 AM GMT
    gotta know the facts man. People have to stop blaming Bush for everything and get the facts straight

    Barney Frank is the one who led the charge to get us in this mess. He and the Dems pressured banks to give mortgages to people who could not afford it so "minorities can own homes in America too" (his words, not mine)

    Now there are millions of people who took on mortgages that they can't afford.

    In addition it was Bush, McCain and the Republicans who pushed to reform Fannie and Freddie in 2003 but the Dems blocked the bill !!!!

    Barney was quoted as saying
    "These two entities, Fannie Mae and Freddie Mac, are not facing any kind of financial crisis," Frank said. He added, "The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing
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    Sep 27, 2008 4:37 AM GMT
    Barney Frank and Chris Dodd are not characters I would be proud of. Chris Dodd by the way has been the chairman for the Senate Banking committee since 2003, before him was Paul Sarbanes, Democrat from Maryland. This whole financial mess was under their jurisdiction. Fannie and Freddie are chartered by Congress and have been since 1938. It's the job of the Congress to maintain oversight of these two institutions.
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    Sep 27, 2008 4:53 AM GMT
    John43620 saidBarney Frank and Chris Dodd are not characters I would be proud of. Chris Dodd by the way has been the chairman for the Senate Banking committee since 2003, before him was Paul Sarbanes, Democrat from Maryland. This whole financial mess was under their jurisdiction. Fannie and Freddie are chartered by Congress and have been since 1938. It's the job of the Congress to maintain oversight of these two institutions.


    Chris Dodd became chairman in January of 2007 when the Dems took control of the Senate. Since 2001 it has been Richard Shelby.
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    Sep 27, 2008 5:11 AM GMT
    John43620 saidChris Dodd by the way has been the chairman for the Senate Banking committee since 2003, before him was Paul Sarbanes, Democrat from Maryland. This whole financial mess was under their jurisdiction.


    Totally incorrect.
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    Sep 27, 2008 5:14 AM GMT
    Ridiculous. No one forced the banks to loan to the subprime market. No one told the rating agencies to look the other way at the collateralized securities chock full of junk mortgages. If you want to go back, revisit Ronald Reagan and the deregulation efforts that Republicans have sworn up and down to be essential for a healthy economy. Pigs get fat, hogs get slaughtered. And Wall Street became a hog fest.

    Barney Frank, like any politician, has some sketchy moments in his past. But for this issue he's doing a great job.

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    Sep 27, 2008 5:55 AM GMT
    Quoting Thomas Sowell,
    "As recently as July of this year, Senator Dodd declared Fannie Mae and Freddie "fundamentally strong" and said there is no need for "panicking" about them. But now that the chickens have come home to roost, Senator Dodd wants to be sure to get some goodies from the rescue legislation to pass out to people likely to vote for him.


    Don't make any bets on how this situation is going to turn out-- except that we can predict that politicians will blame the "greed" of other people. You can bet the rent money on that."

    Full article
    http://jewishworldreview.com/cols/sowell0902408.php3

    Odd how the minor removal of some regulation receive the blame not the still vast capricious laws that bind our institutions and give incentives to make unwise decisions. We need further remove the hand of the government that keeps tampering with the results of markets. Problems won't be solved until banks issue money backed by hard assets. No more of this wishing for new money representing wealth which will be created by a future generation who is conveniently not part of the voting public.
  • GQjock

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    Sep 27, 2008 10:55 AM GMT
    He is an outstanding politician and Statesman
    Barney Frank is intelligent and extremely nimble in communicating ideas
    one of the few Congressmen who I feel always has his pulse on the needs of the people

    ... and he's gay "Yea"

    (He also had his driver try to pick me up after a political rally ... right Barney?)
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