Barney Frank threatens Goldman Sachs, Wells Fargo, and other banks on housing

TheHill ^ | 03/11/11 | Pete Kasperowicz

[ColdOne]

House Financial Services Committee Ranking Member Barney Frank (D-Mass.) said Friday that he would reintroduce legislative language next week that would require large financial institutions to pay for federal mortgage assistance programs.

Frank said his bill would allow four federal mortgage programs that Republicans are working to eliminate this month to continue operating without threatening to increase the U.S. budget deficit and debt. He said his bill would be similar to language that he tried unsuccessfully to include in financial reform legislation last year.

"I don't mean to demonize, but I think Goldman Sachs, and Wells Fargo, and the Bank of America, and Citicorp, and Morgan Stanley, and the large hedge funds, I think they can pay for this," he said on the House floor. He was speaking in defense of a $1 billion program approved last year that helps unemployed people make their mortgage payments for up to 12 months.

"They can afford this billion dollars," Frank said of the large banks. "Their bonuses alone would pay for these programs."

[hinckley buzzard]

Nithe twy Barney. It's a little different though when you are a minority member, ithn't it?

[ronnie raygun]

We have hired workers from hell and they all need to be fired, they are disrespecting the boss, US!

[Blind Eye Jones]

He’s threatening them with not accepting anymore of their money.

[Dawgreg]

Good grief! I’d like to thank the idiots in Messyshootshytes that voted this moron back in. You must be real proud. I know we ain’t........:(.

[Soul of the South]

I wasn’t just Barney Frank. Read George W. Bush’s 2002 speech on homeownership. He wasn’t an innocent bystander. He was active in promoting the policies of no down payment and expanding minority homeownership. http://autosandeconomics.blogspot.com/2010/12/george-w-bush-2002-speech-on-home.html

[BobP]

This moron is one of America’s biggest threats to its existence!

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This Marxist putz belongs in jail.

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Fannie Mae and Freddie Mac will cost the U.S. government $53 billion over the next decade under so-called 'fair-value' accounting, the Congressional Budget Office (CBO) estimated on Thursday, September 16, 2010.

Blessed are the young, for they will inherit the national debt.