Barney Frank is an embarassment and should be “fired”

Posted by Mike Sylvester - 10/7/08 @ 8:45 am - Filed Under National Politics

You just have to read this drivel from Barney Frank.

Barney Frank has been in Congress since 1981.  He is the Democratic Chair of the Financial Services Committee.  In my opinion Barney Frank is one of the people most at fault for the current financial crisis.  He has done everything he can to force banks to lower their lending standards and he has fought against reform at Fannie Mae and Freddie Mac.

That being said there is a lot of blame to go around in this “financial crisis” and that blame should be directed at:

  1. Our politicians who forced banks to lower their lending standards and at the SEC for allowing investments banks leverage themselves too far.  (Republicans AND Democrats are to blame for this “crisis”)
  2. The consumers who purchased more then they could afford.
  3. The lending institutions who allowed people to borrow too much money.
  4. Wall Street and their attempts to create risky derivatives and for executive greed.

His comments in the article referenced above are ignorant, false, and not worthy of a US Congressman.  He has pretty much joined the ranks of Jesse Jackson and Al Sharpton in my mind…

Mike Sylvester

Comments

5 Responses to “Barney Frank is an embarassment and should be “fired””

  1. Bob G. on October 7th, 2008 9:54 am

    With people like HIM, it’s no wonder that the opposite of PROgress is…

    (all together kids)…

    CONgress!!!

    ;)

    B.G.

  2. Jeff Pruitt on October 7th, 2008 1:34 pm

    Frank has been part of the problem but the guy had no real power for 12 years so I hardly see how he “is one of the people most at fault for the current financial crisis”…

  3. Kevin Knuth on October 7th, 2008 1:53 pm

    Mike,

    Barney Frank is stating the same things I have heard Rush Limbaugh and Sean Hannity claim in the past few weeks.

    A lot of blame to the “Democratic Black Caucus”….who used their power to help African Americans buy homes.

    By the way- an interesting fun fact I came across today- In 2005 there was a Senate Bill that would have put more regulation on Fannie and Freddie. It made it through committee, but the Senate never voted on it. The REPUBLICAN majority did not bring the bill up for a vote.

    that is not to say that there wasn’t opposition to the bill from the Democrats. But it is disingenous for the GOP to say the Dems are responsible for this situation (like Steve Shine did this morning on WOWO).

  4. J. Q. Taxpayer on October 7th, 2008 3:05 pm

    Kevin,

    Hay, the point is Kevin is we where spinning down to the events of the last couple of weeks. The oversight (now that is a funny term) committee did nothing in the last two years! We now have GOP and Democrats claiming they where screaming about it. If we stopped this fright train two years ago we would not be where we are today.

    If you want to go with your story of 2005 then why did the Democrats not listen to John McCain? If the Democrats saw this great evil taking place what did Barney and crew do in 2006, 2007, and early 2008. If they did not have their coffers being filled by these very companies they would have enjoyed messing with President Bush on the issue.

    But money talks while the rest of us get to walk…

  5. Mike Sylvester on October 7th, 2008 3:38 pm

    Jeff,

    He is a big part of the problem. He has defended Fannie Mae and Freddie Mac from regulation for a long, long time. He has also pushed “affordable housing for everyone” for his entire career.

    Kevin,

    As you know I blame BOTH Democrats and Republicans for this mess!

    I think it is disingenuous for Democrats to blame Republicans for this mess 100% (And a bunch of them are doing it.) I find it equally as disingenous for Republicans to blame Democrats for this mess 100% (And a bunch of them are doing it.

    Mike Sylvester

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