Barney Frank is Playing Banker Again

Assigned Reading: Fannie, Freddie Asked to Relax Condo Loan Rules
(FROM: Reuters)

And, in news not at all connected with Argentine or the deeper recesses of the South Carolina governor’s pants, we find out that Barney “Banking Queen” Frank is among two Democrats on Capitol Hill pressuring Fannie Mae and Freddie Mac to relax the recently tightened lending standards for mortgages on newly constructed condominiums.

Isn’t this how we got into this problem in the first place?

Throughout the 1990s, Democrat lawmakers pressured Fannie and Freddie and other banks to relax lending standards as homeownership was looked upon as a right and not a privilege. What Democrats everywhere don’t seem to realize is that the market is a natural force, ebbing and flowing automatically and instinctively to adjust to changing times and extrinsic influences. Lending standards are in place for a reason, and if any change need be made, that change will come from natural market forces.

Let’s leave government out of it. While the housing market was crashing due in large part to congressional malfeasance, Frank and his cohorts refused to heed warnings coming from Republicans like John McCain and, on 18 separate occasions, from the Bush White House. Instead, they rested on their laurels, counted on the media to continue portraying the GOP as anti-regulation even with regard to such housing and lending issues, and as a result the market faltered, taking pretty much everything else with it.

Yet Frank in particular has not seemed to have learned his lesson. Unbelievable.

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Comments

  1. Anonymous says:

    Actually, Jeff, he should be in a Superman suit. He is Barney Frank the Banker, Gay Rights Defender, Big Auto Maker. He does it all(to mess up this country even more).

  2. Anonymous says:

    okay Jeff – - i am literally on the floor… as soon as i pick myself up, i will read this article, but the headline and the visual literally FLOORED me!

    your political wit is the best!

  3. Gail B says:

    These goons have too much power! They think that they can just open their mouths and their wants prevail?

    So what else is new about this regime?!

  4. Bodenzee says:

    "I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered."

    – Thomas Jefferson, 1802

  5. Anonymous says:

    Not only hasn't he learned anything, all those surrounding him and ennabling his wackiness are guilty as well.

    Does anyone else get the feeling that representatives of the U.S. really want to commit national suicide? If they would only pull a Jim Jones within their chambers and leave the rest of us out of it we could get a fresh start with perhaps some patiots for a change!

  6. JACK WENT UP THE HILL says:

    Jack Bauer, is there nothing you can do to the Capitol water coolers?

  7. BARNEY FWANK says:

    Watta ya expect from Massatwoshits?

  8. LIFES NOT FAIR says:

    Funny, a heterosexual affair dooms a governor politically, but a decadent homosexual multiple partner, crimes being committed from his home etc, congressman goes on and on and on and on, election after election after election.

  9. MORE THAN ONE IMPEDIMENT says:

    BANK on this, he is dooming this country.

  10. Anonymous says:

    p.s. how does a guy that ran a gay prostitution ring from HIS VERY OWN HOME end up making decisions for all of us?

    there outta-B-a-Law!
    AND, we all need to do our individual duty as citizens and put INTEGRITY back in government… if these people are immoral just cross them off your list… dont even bother to research them to compare them to the other candidates. … eventually they will get the message and wont even attempt to run for ANYTHING.

  11. Anonymous says:

    and yes, this is exactly how we got here.

    i sincerely hope we are able to crush ACORN so that all the nuts fall off the tree into the right slots and anyone associated with this awful situation are disgraced and removed from office. they need to be fully exposed.

    the weakest links in acorn are showing cracks in the shell – a very, very good thing.

  12. tm says:

    We have reached the point where our government is now a clear and present danger to its citizens.

  13. IT'S TIME says:

    right on tm! Hopefully a lot of federal agents feel this way too.

  14. SATURDAY NIGHT FEVER BLISTER says:

    Is that John Revolta?

  15. Anonymous says:

    Incredible. What's it going to take to stop this idiot? He already ruined the economy once, and he's going to do it again?

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