Barney Frank has a history of denying his role in housing meltdown

american thinker ^ | 5/21/10 | Ed Lasky

[Nachum]

On May 20th, Congressman Barney Frank (a promoter of the Community Reinvestment Act, a promoter of increased Fannie Mae and Freddie Mac exposure to risky mortgages - in other words, he helped cause the financial crisis) again denied that he pushed for increased home ownership. He did this most recently yesterday on CNBC but has a history over the last couple of years of denying his culpability.

Here we go again.

Let's read (or listen to) his own words from 2005:

Barney Frank June 27, 2005 - House Floor

"We have, I think, an excessive degree of concern right now about home ownership and it's role in the economy.

[Deagle]

Ah, they will get him in the end - it just may take the end before that happens though, NOT good... Look for Tar and Feather replicas...

[Hillarys Gate Cult]

they will get him in the end

But that's the way he likes it.

[Deagle]

Heh... You have been reading too many strange books...ha.

[Darkwolf377]

Barney Frank is the key exhibit in what I think is the great issue no one--I mean NO ONE--talks about ever:

Redistricting

[Deagle]

Actually, I should compliment you on your uptake. I set you up perfectly - and I am ashamed about that...heh.

[Venturer]

It is beyond my comprehension, how anyone can believe that Fannie and Freddie can be fixed when they have the same idiot who caused the problem still in the seat that runs it.

[MiltonFriedmanFan]

Whenever his culpability is even hinted at, he zooms to Defcon 1 and excoriates and mocks his interviewer. Therefore, nobody even dares ask him about his involvement and he continues on blaming everybody but himself for the disaster.

[Venturer]

Our country has come to a sorry state when a pervert runs one of the highest Committee’s in the Congress, When he screws up like Hogans Goat and the rest of those supposed learned men and women in the Congress just look the other way.

I dont trust either party any longer, It is time they wqere all voted out, and if that doesnt work???????..........

[driftless2]

Most experts agree that housing market meltdown precipitated the financial crisis. What they disagree on is whether banks and finance gurus on Wall Street caused it or the government with the help of FM’s, the Fed, and the CRA were the main culprits. The question they should ask is: without the involvement of the government would there have been a crisis or would the crisis have been much smaller? I can’t believe things would have been nearly as dire if the government hadn’t screwed things up.

[avacado]

Bank would never have taken the risk of so many subprime loans had they not had the guarantee that Fannie Mae would buy those garbage loans and Wall Street would not have melted down had all those those bundled mortgages as investment securities not been stuffed with junk subprime loans.

Cause and Effect. The banks and Wall Street are simply the effect of the cause of Democrats meddling in the free market by increasing subprime loans.

[SunkenCiv]

Thanks Nachum.