Blaming Barney Frank

Barney Frank on YouTube 12/5/08

Can you believe the nerve of some people? Barney Frank, who has had as much to do with the current economic crisis as anyone else in the U.S. government, stoops to lecture the Congress on the foolishness of not sending pork barrel tax dollars to the auto makers the way Barney Boy sends it back home to Massachusetts...by the billions, that is. And where's the money coming from? Why, taxing the rich, of course!

Is he serious? Frank, his backroom dealings with Fannie Mae and Freddie Mac, and some of his fellow liberals in congress, started this ball rolling back in the Clinton years, by using Freddie and Fannie to force lending institutions to be more lenient in their mortgage criteria, particularly among lower income Americans. The logic being, purportedly, that home ownership is a good thing for everyone. It can be, but only if you can afford the home you're owning. To quote Barney's home town newspaper:

"All this was justified as a means of increasing homeownership among minorities and the poor. Affirmative-action policies trumped sound business practices. A manual issued by the Federal Reserve Bank of Boston advised mortgage lenders to disregard financial common sense. "Lack of credit history should not be seen as a negative factor," the Fed's guidelines instructed. Lenders were directed to accept welfare payments and unemployment benefits as "valid income sources" to qualify for a mortgage. Failure to comply could mean a lawsuit."

Year after year, Barney Frank, the Elmer Fudd of Capitol Hill, insisted that Fannie & Freddie were just fine, and blocked any attempt to regulate or investigate their practices as a wascally, wacist, Wepublican plot. So far, Barney has blamed President Bush, Republicans in general, and even our free market itself for the curent money mess. But why doesn't he point that finger right back at himself, for running interference for Fannie and Freddie's failed social engeneering thatthe tax payers funded and will pay still more before all is said & done. Why Barney? Why are you still carrying water for Fannie & Freddie? Was it the campaign contributions? Was it that your former longtime gay lover, Herb Moses, was a senior executive at Fannie Mae, who helped spearhead the relaxing of loan standards that caused this problem? Yet he still proclaims his innocence and blames everyone else.

Why is none of this being discussed in the media (except on the O'Reilly Factor )? Why is Congress not investigating one of their own members who is so obviously corrupt and is culpable in what he himself calls "the worst economic situation since the Depression"? Too many questions, and no answers from the liberal media or the equally liberal Democrats running Congress. Before the legislature calls the failed companies and the executive branch on the carpet, why don't they come clean with their own guilt in the mess? Don't hold your breath, folks. Being a Democrat in this Congress means never having to say you're sorry.

Nolanbuck