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Fannie Mae, Freddie Mac Should Be Eliminated, (Barney) Frank Says

I'm with Barney on this one.

Not because I favor what he's done or what he proposes to do or what he might really have in mind.

I favor this move simply because it's an opportunity to open up a can of worms. Once the can of worms is opened up, the opportunities to reform, or to undo, or to disband the agencies, are opened up.

Once discussions of reform are opened, investigations on the agency can be opened up and perhaps true reform which aids the housing market and the economy, can be undertaken.

Once the discussions on reform are started, neither Barney nor his liberal cohorts should be allowed to take the initiatives or to set the terms of reform.

Barney then when he KNEW otherwise: ”These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis.The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.”