Posted on 03/06/2009 7:48:31 AM PST by Rufus2007
Could it soon be criminal to lose money for taking on too much risk? If Rep. Barney Frank, D-Mass., has his way, it might. Just don’t expect him to talk to the media about his role in the crisis.
Frank, the chairman of the House Financial Services Committee held a press conference on March 5 to announce he would hold hearings to push for federal and local statutes to prevent a similar economic downturn – but not just by imposing civil penalties, but criminal ones as well.
“I am asking very firmly the attorney general, and I’ve checked with the Judiciary committee and we have a cooperative effort here – they’ll be working on this as well,” Frank said. “But, we’re going to have a hearing with the attorney general, and the FBI, the Securities and Exchange Commission, the bank regulators, the representatives of the state attorneys general and the state securities administrators, and we have a question that they are being asked now – what are your plans to prosecute those people whose irresponsible and in some cases criminal actions help bring about this crisis that will be both criminal and civil?”
..more (w/video)..
(Excerpt) Read more at businessandmedia.org ...
Wow, first Gaitner saying he is going after tax cheaters,, now Frank doing this?
Amazing,,the madness must be stopped. We will soon see who will lead the opposition and stop this communist revolutionary presidency.
(202) 225-5931
and suggest the he seek indictments for Franklin Raines, Jamie Gore-lick, Chris Dodd and himself for crashing Freddie and Fannie.
>> BRaney the ButtBoy is just trying to cover his butt.
I get the point you’re making, but I’d respectfully point out that Bawney Fwank hasn’t covered his butt since before he entered adolescence.
He’ll use powdered soap.
That way, when he spills it in the shower, he’ll spend A LOT more time bent over as he picks it up.
Just look in the mirror, you fat rumprider!....
Lawmaker Accused of Fannie Mae Conflict of Interest
Friday , October 03, 2008
By Bill Sammon
Unqualified home buyers were not the only ones who benefitted from Massachusetts Rep. Barney ("B.J") Frank’s efforts to deregulate Fannie Mae throughout the 1990s.
So did Frank’s partner, Herb Moses, a Fannie Mae executive at the forefront of the agency’s push to relax lending restrictions.
Now that Fannie Mae is at the epicenter of a financial meltdown that threatens the U.S. economy, some are raising new questions about Frank's relationship with Herb Moses, who was Fannie’s assistant director for product initiatives.
Herb Moses worked at the government-sponsored enterprise from 1991 to 1998, while Frank was on the House Banking Committee, which had jurisdiction over Fannie.
Both Frank and Moses assured the Wall Street Journal in 1992 that they took pains to avoid any conflicts of interest. Critics, however, remain skeptical.
"It’s absolutely a conflict," said Dan Gainor, vice president of the Business & Media Institute. "He (B.J.) was voting on Fannie Mae at a time when he was involved with a Fannie Mae executive, Herb Moses. How is that not germane?
The question is, how is this not so revolting that B.J. Barney is still walking around loose on the streets?
dang it, you beat me to it!
In order to save capitalism, you must weed out the bad actors and prosecute them...or no one will ever again have faith in capitalism. They are not capitalist, but criminals.
Just called!!! I suggested prosecutions of Franklin Raines, Jamie Gorelick, Chris Dodd and himself, for the community reinvestment act. The woman on the other end of the line couldn’t get rid of me fast enough!!!
LC
CNBC hosts were LAUGHING at barney frank to have the arrogance to say this.
They said the first person who should be prosecuted is Barney Frank!
Same response I got...
Grab your ankles??
The first place he should look is in the mirror.
I hope he sues someone and they have a sharp lawyer. They could counter sue and bring this all out in deposition. WOW would that be fun to watch. As Clint Eastwood called them “Fudge Packers”
well he should start with Raines, Johnson and Gorelick.
I think DOJ should start with Barney Frank and Chris Dodd.”
Do not forget how high on the list of contributions from Wall Street and Fannie and Freddie that NObama was listed.
He is 2nd on one list and 1st on another.
Barney can look into the mirror, and take NObama along with him to turn themselves into the prosecuters.
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