Posted on 08/18/2010 8:17:09 AM PDT by shove_it
From the "credit where it's due," or perhaps more appropriately, "better late than never" department, check out this account of a recent Fox Business interview with Frank:
"[Fannie Mae and Freddie Mac] should be abolished," Frank said in an interview on Fox Business, when asked whether the mortgage giants should be elements in housing market reform. "They only question is what do you put in their place," Frank said. ... Frank also was critical of public policy that promoted homeownership at any cost. He also said the federal government should not be a "backstop" in guaranteeing mortgages.
"There were people in this society who for economic and, frankly, social reasons can't and shouldn't be homeowners," Frank said. "I think we should, particularly, stop this assumption that you put everybody into homeownership." That's a very far cry from the Barney Frank of 2003, seen here scoffing any suggestion that Fan and Fred were encouraging lending to people unlikely to pay the money back, or that the taxpayers would be left holding the bag:
[...]
(Excerpt) Read more at wcollier.blogspot.com ...
I am fine with Fannie / Freddie. It’s Barney Fwank that needs to go.
He’s lying through his sperm stained teeth in fear of November 2th, even in MA04.
Eh, we don’t need government involved in the housing industry at all. GSE = taxpayer sponsored. I don’t think we’d lose much of value at all were they to be ended.
September 2003:
‘’These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis,’’ said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ‘’The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.’’
Eeeeeeeew!
ROFLMAO
RACIST!!!!!!!!!!!!!!!!!
His Republican competition in MA is gaining strength. Frank is starting to campaign for his seat now, that’s what’s happening.
Good news from Mass!
>> [...] And What Did You Do With Barney Frank?
On general principle, I do not want to know what anyone “did” with Barney Frank.
SnakeDoc
IT FEELS LIKE A REVOLUTION-YOU KNOW WHAT I MEAN.
I NEVER agree with Barney... either he is up for election or the VD wore off long enough for him to have a coherent thought.
Now there’s a mental image I could have done without.
“Fannie Mae and Freddie Mac should be abolished, the only question is what do you put in their place.”
Nothing, Barney, nothing. The last things we need is more government agencies pretending to be private entities.
“Be glad you’re not his dental hygienist.”
Or his proctologist.
Is this a case of “invasion of the body snatchers”. Barney actually admits he was wrong in his support of Fannie and Freddie and his belief that everyone had a right to a mortgage.
If only more politicians would be honest enough to admit something they tried or supported did not work we would be in a much better condition. It is just so strange that this brief glimpse of honesty would come from Barney.
I will not hold my breath that more of the Federal Mafia crowd will come forward and admit what they thought was a good idea sucked.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.