Watch it Obama i think old Barney has a thing for you like he did slick Al!
Posted on 01/08/2009 8:21:25 AM PST by BGHater
House Financial Services Committee Chairman Barney Frank (D-Mass.) said Thursday that President-elect Obama’s stimulus plan spends too much money on tax cuts for his taste.
Frank said on NPR’s “Marketplace Morning Report” that he believes the spending package Obama supports will be large enough to help the ailing economy but that he does not entirely agree with how the money will be used.
“I have some difference because I think they may be doing too much tax-cutting and not enough direct spending from the standpoint of immediate job creation,” Frank said.
However, the Democrat expressed confidence that economic recovery would begin this year and that full recovery in 2010 would help Democrats politically.
“I think the advantage the Democrats are going to have, frankly, is that Obama’s taken office with an economy in the dumps, and by the summer of 2010, I think we will have gotten back to normal,” Frank said. “That’s the optimum from the political standpoint, although that’s not what anybody is trying to do — the sooner the better.”
I bet Fwank would shut up if Zero would just throw in some tax credits for people running male prostitution rings.
We can really, really, really trust anything that Barney says. We should put this guy in prison, but.......as they say, he would probably like that.
Of course Barney wants spending over tax cuts - with spending he and his ilk get to decide where the money goes - with tax cuts WE mainly decide.
If I posted what I’d like to say, not only would I be banned for a few lifetimes, but I’d probably also get a visit from some men in black...
WHY DOES THIS CRIMINALLY NEGLIGENT SENATOR HAVE A JOB?!
Tax-cutting, my derriere. Those aren’t tax cuts. They’re welfare payments.
New York Times
By STEPHEN LABATON
Published: September 11, 2003
The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.
Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.
The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios.
..
..
Among the groups denouncing the proposal today were the National Association of Home Builders and Congressional Democrats who fear that tighter regulation of the companies could sharply reduce their commitment to financing low-income and affordable housing.
''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.''
Representative Melvin L. Watt, Democrat of North Carolina, agreed.
Because the FBI is asleep at the switch.
Just like a kid in a candy store, so much to choose from and not knowing where to start.
Watch it Obama i think old Barney has a thing for you like he did slick Al!
We could use some frank cutting.
;o)
“I think the advantage the Democrats are going to have, frankly, is that Obama’s taken office with an economy in the dumps, and by the summer of 2010, I think we will have gotten back to normal,” Frank said.
Looks like Barney is putting a lot of hope in the end of the Bush tax cuts. Six months of 40% taxes on the rich won’t make much difference WHEN THEY’RE NOT EARNING ANYTHING1
I think he would prefer direct spending to spruce up the men’s bathrooms at all the rest stops heading down to Cape Cod.
Careful their.... Tax cutting and Frank are two subjects that shouldn't be in the same sentence :-).......
They Said It! Rep. Barney Frank (D-MA) On Raising Taxes
Rep. Barney Frank, Democrat, MA: “Yes, I believe later on there should be tax increases. Speaking personally, I think there are a lot of very rich people out there whom we can tax at a point down the road and recover some of this money.”
And I suspect that will probably have more to do with the normal business cycle than all of the government largess being thrown about.
I also have a feeling if someone crunches the numbers in 2010, the number of Federal $$$ spent per job "created" by the incoming administration will be a truly frightening ratio.
He's a fool. The most wildy optimistic scenario is that by summer 2010 the economy is growing anemically and unemployment is peaking. The voters will be restless with 1% GDP growth and 9% plus unemployment.
By Jeff Poor
Business & Media Institute, 9/24/2008
excerpt...
"Frank, who is openly gay, had a relationship with Herb Moses, an executive for the now-government controlled Fannie Mae. The column revealed the two had split up at the time but also said Frank was referring to Moses as his "spouse." Another Washington Post report said Frank called Moses his "lover" and that the two were "still friends" after the breakup.
Frank was and remains a stalwart defender of Fannie Mae, which is now under FBI investigation along with its sister organization Freddie Mac, American International Group Inc. (NYSE:AIG) and Lehman Brothers (NYSE:LEH) – all recently participants in government bailouts. But Frank has derailed efforts to regulate the institution, as well as denying it posed any financial risk."
http://www.businessandmedia.org/printer/2008/20080924145932.aspx
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Must see video from 2004: 'Democrats Defend Fannie/Freddie from Regulation'. Watch it 'til the end. You will not believe it.
"We've been through nearly a dozen hearings where frankly we were trying to fix something that wasn't broke. Mr. Chairman we do not have a crisis at Freddie Mac and in particular at Fannie Mae under the outstanding leadership of Mr. Frank Raines."-Rep. Maxine Waters, 2004
http://www.youtube.com/watch?v=YL36nwCSYUM
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History of Fannie Mae scandal
"Fannie Mae announces its long-awaited restatement, erasing $6.3 billion in profit from 2001 through June 30, 2004."
http://www.boston.com/business/articles/2006/12/07/history_of_fannie_mae_scandal/?page=1
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Bailout Politics: The Congressional Dems who enabled this crisis are now being trusted to fix it?
Thomas Sowell, September 30, 2008
http://article.nationalreview.com/?q=OWE3OWU3OTExYzNlNTUzMzY2YmJmOWZjMzcwN2M1NjU=
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Guilty Party: ACORN, Obama, and the mortgage mess
Mona Charen, September 30, 2008
http://article.nationalreview.com/?q=Mzk4MmVkNzA1NGQ2NGRkZjQ2YjNmYjdlODZkMmQ4N2I=
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An ACORN Falls from the Tree: A congressional outrage
Ken Blackwell, September 29, 2008
http://article.nationalreview.com/?q=N2Y5MTc0ZTAyMmE1Mjk3NGE3OWRiY2FkMjZlN2YxYzc=
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