Barney Frank haunted by 2003 remarks on lenders ("I was wrong on both counts.")

UPI ^ | 10/14/10

[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.''

[Libloather]

Win the House, start the investigation.

[JimWayne]

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?

[Vince Ferrer]

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.

[Zuben Elgenubi]

"If you disagwee with my explanation, you are a homophobe."

[bigbob]

That is one scary picture!

You don’t know where that finger has been!

[Steely Tom]

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.

[hampdenkid]

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?

[RobRoy]

“Barney Frank haunted by 2003 remarks on lenders”

Finally!

[mylife]

Pweeze dont fwog marth me fwrom the court uff pubwic opion!

[Bringbackthedraft]

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??

[Sgt_Schultze]

Here's more video of other democrat misdirection.

[RobRoy]

>>You don’t know where that finger has been!<<

Or that mouth.

[Zuben Elgenubi]

Fwog marth??? Ooooooh, I’m all earws!!

[mylife]

Good lord, Bawney is such a freak.

[TigersEye]

How many counts are you guilty on, Bawney?

[ExTexasRedhead]

Investigate, indict, and prosecute. Barney will love prison.

[mwyounce]

if someone in the private sector had made a mistake this big, you’d be demanding to see his ass in a prison cell.

I'll bet he would....

[econjack]

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.

[earlJam]

Lets be accurate. That is NOT what he said.

Here is Barney Frank’s exact quote:

“I was Wong!”

[torchthemummy]

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.