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Barney Frank Resumes His Extremely Hypocritial Ways By Calling All Fed Attacks "Extreme Hypocrisy"
ZeroHedge ^ | 11/22/10 | Tyler Durden

Posted on 11/22/2010 1:39:14 PM PST by FromLori

The person who is almost singlehandedly responsible for the complete disaster that are today's bankrupt GSEs, somehow succeeds in making America hate him even more, when he notes that the global response of condemnation to the Fed's actions, and the subsequent enjoinder by Republicans who wish nothing less than to save the dollar, instead of allowing hyperinflation to deal with the consequences of the idiotic actions by the MA congressman, is "extreme hypocrisy." How this excuse for a representative (of anything more than a few well-rounded bankers) gets any air time is beyond us. Until then, we will make sure the collective blood pressure of our readership remains elevated thanks to such unprecedented examples of the supreme corruption in D.C. as Barney Frank. And unrelated, but even more disturbing, is Frank's statement that he doesn't mind that there haven't been prosecutions of financial crisis players. Don't worry Barney, prosecutions will come... Luckily these will happen once your immunity lapses.

Anyone with a heart condition is advised against reading/watching this post.

From a letter just sent out by the Frank.

Chairman Frank Statement on Republican Attacks on Fed Efforts to Boost U.S. Economy

Washington, D.C. – House Financial Services Committee Chairman Barney Frank (D-MA) issued the following statement today regarding Republican attacks on efforts by the Federal Reserve to use well-understood monetary policy tools in order to help boost the U.S. economy:

“I was not surprised at the extreme hypocrisy of the Central Bank of China insisting that America – apparently alone among nations – has an obligation to subordinate its own legitimate economic needs to international currency movements, nor was I surprised that other central banks, including Germany’s, joined China.

“What did disappoint me was to see conservative economists, high-ranking officials of previous Republican administrations, and Republican Congressional leaders share the attack by these foreign banks not simply on the substance of the Federal Reserve’s proposal, but on the very notion that America has a right to give a primary focus to our own economic need for growth at this time.

“Debating American economic policy is one thing; joining in a broad attack by foreign central banks, who insist that America somehow must subordinate our own legitimate economic needs to their currency requirements, is quite another. But that is essentially what the Reagan-Bush-Bush economists have asserted in their letter to Chairman Bernanke when they say that ‘The Fed’s purchase program has also met broad opposition from other central banks and we share their concerns that quantitative easing by the Fed is neither warranted nor helpful in addressing either U.S. or global economic problems.’”

Note: Republican Congressional leaders issued their attack on the Fed in a letter sent last week to Federal Reserve Chairman Ben Bernanke. The former Republican administration officials and other prominent conservatives sent a separate letter to Bernanke last week.

And here is Frank on Bloomberg earlier:


TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: economy; fed

1 posted on 11/22/2010 1:39:22 PM PST by FromLori
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To: FromLori

Link for video

http://www.youtube.com/watch?v=-FbNsLW89Uw&feature=player_embedded


2 posted on 11/22/2010 1:39:59 PM PST by FromLori (FromLori)
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To: FromLori
[Frank] somehow succeeds in making America hate him even more

Except for those in the criminal faggot's (highly gerrymandered) district, who've been re-electing him by comfortable margins for decades now.

3 posted on 11/22/2010 1:43:41 PM PST by Mr. Mojo
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To: FromLori

Barney cracks me up-I always think of Elmer Fudd when he talks!


4 posted on 11/22/2010 1:45:20 PM PST by Spok ( "Woe to them who call the day, night and the night, day." -Isaiah)
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To: FromLori

Frank’s greatest love is himself.


5 posted on 11/22/2010 1:45:20 PM PST by rockinqsranch (Dems, Libs, Socialists, call 'em what you will, they ALL have fairies livin' in their trees.)
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To: FromLori

When is this Perverted Criminal pile of crap going to get tossed out?


6 posted on 11/22/2010 1:52:32 PM PST by Cheetahcat (Zero the Wright kind of Racist! We are in a state of War with Democrats)
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To: rockinqsranch

Banking Queen Sung By Barney Frank

http://www.youtube.com/watch?v=TqJDgBrx2MQ


7 posted on 11/22/2010 1:52:40 PM PST by FromLori (FromLori)
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To: FromLori

correction. he called the attacks “extweme hypocwisy”.


8 posted on 11/22/2010 1:55:21 PM PST by smonk
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To: FromLori

I think you mean “Extweem Hypocwacy”.


9 posted on 11/22/2010 1:56:00 PM PST by FrdmLvr (Death to tyrants)
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To: FromLori
Photobucket

what ever, Barney... just STFU and go play grab a$$ with your little boy toys and leave our country alone. You've already screwed up the home mortgage industry.

10 posted on 11/22/2010 2:06:32 PM PST by Dick Vomer (Our President-A modest man, who has much to be modest about.)
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To: FromLori
Republican attacks on efforts by the Federal Reserve to use well-understood monetary policy tools in order to help boost the U.S. economy

Any student of Monetary Policy knows that printing money expands the Monetary Base (M1) which ultimately leads to runaway inflation. The only reason we haven't seen inflation yet is because the Velocity of Money (V) has stagnated since banks are not lending to businesses who are too scared to borrow. Only a Keynesian believes you can push on a string and get anywhere. What businessman worth his salt makes plans to expand when he has no earthly clue which idiotic government program is coming next.

11 posted on 11/22/2010 2:40:26 PM PST by immadashell
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To: FromLori

We all have to be happy about one thing........ all these clowns are back in thier seats as a VISUAL REMINDER of the damage they have brought on this country and the reasons why we need to haul them out in handcuffs.


12 posted on 11/22/2010 2:59:33 PM PST by ronnie raygun (V)
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To: Cheetahcat

Barney will never be tossed out. The people in Barney’s district are just like him. Get over it. They will elect Barney forever.


13 posted on 11/22/2010 3:00:02 PM PST by baiamonte
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To: Cheetahcat

Barney will never be tossed out. The people in Barney’s district are just like him. Get over it. They will elect Barney forever.


14 posted on 11/22/2010 3:00:14 PM PST by baiamonte
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To: baiamonte

Barney will not live forever. One day he will bite the dust. And then we will be rid of him. FOREVER.


15 posted on 11/22/2010 3:02:37 PM PST by WashingtonSource
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To: baiamonte

“Barney will never be tossed out. The people in Barney’s district are just like him. Get over it. They will elect Barney forever.”

Need term limits then!


16 posted on 11/22/2010 4:15:56 PM PST by Cheetahcat (Zero the Wright kind of Racist! We are in a state of War with Democrats)
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