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Barney Frank haunted by 2003 remarks on lenders ("I was wrong on both counts.")
UPI ^
| 10/14/10
Posted on 10/14/2010 8:39:51 PM PDT by Libloather
Frank haunted by 2003 remarks on lenders
Published: Oct. 14, 2010 at 9:39 PM
BROOKLINE, Mass., Oct. 14 (UPI) - Remarks about Fannie Mae and Freddie Mac by U.S. Rep. Barney Frank, D-Mass., during a 2003 committee hearing have become a campaign issue in 2010.
Frank said then that the two government enterprises were strong enough to withstand any threats -- and that if they did get into trouble they would not get a government bailout. Sean Bielat, the Republican seeking Frank's seat, has a clip from 2003 on his campaign Web site, "Retire Barney," and Frank has been struggling to explain himself, The Boston Globe reports.
Frank acknowledges what he said in 2003 was "wrong on both counts." He said he was defending Fannie and Freddie because he was afraid the Bush administration wanted to shut them down.
Armando Falcon, who headed the government office in charge of overseeing Fannie and Freddie, reported in early 2003 that both had taken on too much risky debt. Both President Bill Clinton and his successor, George W. Bush, had pushed Fannie and Freddie to expand acquisition of mortgages to expand home ownership.
Bielat calls Frank "one of the leaders of economic disaster" but Peter Morici, a conservative leaning University of Maryland economist, called the mortgage crisis a "bipartisan mess.''
TOPICS: Crime/Corruption; Extended News; Government; News/Current Events; Politics/Elections
KEYWORDS: barney; elections; frank; lenders; obama; palin; remarks
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Win the House, start the investigation.
To: Libloather
But he is a homosexual and if a homosexual runs the economy, there is diversity and if there is diversity, how can the economy fail?
2
posted on
10/14/2010 8:43:47 PM PDT
by
JimWayne
To: Libloather
He said he was defending Fannie and Freddie because he was afraid the Bush administration wanted to shut them down. Which would have helped if it had happened back then.
To: Libloather
"If you disagwee with my explanation, you are a homophobe."
To: Zuben Elgenubi
That is one scary picture!
You don’t know where that finger has been!
5
posted on
10/14/2010 8:49:54 PM PDT
by
bigbob
To: Vince Ferrer
You were wrong on both counts, and if someone in the private sector had made a mistake this big, you’d be demanding to see his ass in a prison cell.
But with you it’s supposed to be “oh, look, he admitted he was wrong, let’s send him back to DC for another 30 years.”
Not this time, Barney.
6
posted on
10/14/2010 8:49:54 PM PDT
by
Steely Tom
(Obama goes on long after the thrill of Obama is gone)
To: Zuben Elgenubi
I’m sorry, but even if I were a homosexual (which I am decidedly not), that is not the face of a man with whom I would want to fornicate. What is with those people anyway?
To: Libloather
“Barney Frank haunted by 2003 remarks on lenders”
Finally!
8
posted on
10/14/2010 8:54:22 PM PDT
by
RobRoy
(The US Today: Revelation 18:4)
To: Zuben Elgenubi
Pweeze dont fwog marth me fwrom the court uff pubwic opion!
9
posted on
10/14/2010 8:55:45 PM PDT
by
mylife
(The Roar Of The Masses Could Be Farts)
To: Libloather
Typical politician, talking from both sides of his mouth. When the chips are down and you are backed into a corner, its time to admit you were wrong, and make yourself the victim? he has hopes that those who were for him, will come to his rescue. He won’t change, its time for him to go, but will he??
10
posted on
10/14/2010 8:55:52 PM PDT
by
Bringbackthedraft
(The candidate they smear the most is the one they fear the most.)
To: Libloather
Here's more
video of other democrat misdirection.
11
posted on
10/14/2010 8:59:30 PM PDT
by
Sgt_Schultze
(A half-truth is a complete lie)
To: bigbob
>>You dont know where that finger has been!<<
Or that mouth.
12
posted on
10/14/2010 9:02:53 PM PDT
by
RobRoy
(The US Today: Revelation 18:4)
To: mylife
Fwog marth??? Ooooooh, I’m all earws!!
To: Zuben Elgenubi
Good lord, Bawney is such a freak.
14
posted on
10/14/2010 9:10:50 PM PDT
by
mylife
(The Roar Of The Masses Could Be Farts)
To: Libloather
How many counts are you guilty on, Bawney?
15
posted on
10/14/2010 9:18:41 PM PDT
by
TigersEye
(Who crashed the markets on 9/28/08 and why?)
To: Libloather
Investigate, indict, and prosecute. Barney will love prison.
16
posted on
10/14/2010 9:24:38 PM PDT
by
ExTexasRedhead
(Take back our country on November 2, 2010. Let's Roll!!!)
To: Steely Tom
if someone in the private sector had made a mistake this big, youd be demanding to see his ass in a prison cell.I'll bet he would....
17
posted on
10/14/2010 9:28:20 PM PDT
by
mwyounce
To: Libloather
Barney's screw-up with Freddie and Fannie began with Jimmy Carter's Community Reinvestment Act which said that banks must loan money to people who couldn't pay it back. Then Clinton poured gasoline on the fire when Janet Reno said she would start prosecuting banks because they were dragging their feet. Barney probably believed what he said about those two institutions being solvent because he's simply stupid. But when I hear politicians say: “We can't end Freddie and Fannie! Otherwise, how can people who can't afford a home buy one?” Now, it's time to kill the institutions and throw the caretakers out.
Nov. 2...National Take Out The Trash Day.
18
posted on
10/14/2010 9:37:25 PM PDT
by
econjack
(Some people are as dumb as soup.)
To: Libloather
Lets be accurate. That is NOT what he said.
Here is Barney Frank’s exact quote:
“I was Wong!”
19
posted on
10/14/2010 9:37:25 PM PDT
by
earlJam
To: Libloather
Frank said then that the two government enterprises were strong enough to withstand any threats -- and that if they did get into trouble they would not get a government bailout. Sean Bielat, the Republican seeking Frank's seat, has a clip from 2003 on his campaign Web site, "Retire Barney," and Frank has been struggling to explain himself, The Boston Globe reports.Hey, UPI! We don't need you to describe the quotes - just provide them. Otherwise, like this article, the clear intent is to omit the actual quotes to minimize the damage the actual quotes would do.
There is no excuse for these skimpy articles on the net where space is NOT a premium but (when trying to expose the truth) an asset.
20
posted on
10/14/2010 9:47:00 PM PDT
by
torchthemummy
("About everything we do around here is government intrusion in people's lives." Ray LaHood)
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