Book ‘em, Dano!!!
Was Foo Foo Frank’s name mentioned?
That seems to be the refrain from all of the financial honchos testifying on this. “We didn’t know, and our traders didn’t know either. Just couldn’t figure it out. But we had to give out big bonuses, because you don’t want that kind of talent to get away.”
But Barney Frank said that everything was FINE and that Bush was making it bad by pushing for restructuring in 2003.
New Agency Proposed to Oversee Freddie Mac and Fannie Mae
http://www.nytimes.com/2003/09/11/business/new-agency-proposed-to-oversee-freddie-mac-and-fannie-mae.html?pagewanted=all
By STEPHEN LABATON
Published: September 11, 2003
WASHINGTON, Sept. 10— The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.
‘’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.
‘’I don’t see much other than a shell game going on here, moving something from one agency to another and in the process weakening the bargaining power of poorer families and their ability to get affordable housing,’’ Mr. Watt said.
and this asshole only made how many millions of dollars while officiating over possilby the biggest robbery of all time?
He didn’t fail, he got caught.