BillsFan-4-Ever Posted July 20, 2009 Posted July 20, 2009 http://finance.yahoo.com/tech-ticker/artic...set=&ccode= Who’s to blame for the subprime housing bubble? A popular answer – especially on the right side of the aisle - is Massachusetts Democrat, Barney Frank. Why? The argument, best summed up in an Investor's Business Daily editorial published in March 2009, goes like this: "Starting in the early 1990s," Rep. Barney Frank "(and other Democrats) stood athwart efforts by regulators, Congress and the White House to get the runaway housing market under control." It goes on to say in, "2002, Frank nixed reforms" of Fannie Mae and Freddie Mac and that in 2003, "led by Frank, Democrats stood as a bloc against any changes" that President Bush proposed making to Fannie and Freddie. First, and it's a point Frank returned to several times, is he and the Democrats did not have the power to call the shots since they were in the minority during most of the Clinton and Bush years. "Tom Delay was running the House of Representatives. So I take responsibility for what I do but I don't take responsibility for Newt Gingrich and Tom Delay’s policies," he protests. Making a broader point, he says, "if I really had the power to stop the Republicans from doing anything you know what I would have done first? I would have stopped the war in Iraq. I would have stopped the impeachment of Bill Clinton. I would have stopped tax breaks for people making millions of dollars a year." Continuing along that line, when it comes to the problems at Fannie Mae and Freddie Mac, Frank not only denies it, he shifts the blame to the Bush administration. When it came to a Republican bill to reform Fannie and Freddie, President Bush gave his own party "the one finger salute," he colorfully says. Second, Democrats not only did not cause the crisis, they were aginst subprime lending all together: "The Bush administration made a big mistake; they were the ones that pushed home ownership for very poor people. Liberals wanted rental housing, we thought that was more appropriate," he claims. Finally, the real estate crash was not something even the experts saw coming. "No one I know of - except Robert Shiller
OCinBuffalo Posted July 20, 2009 Posted July 20, 2009 And you believe that? Liberals werent pushing home ownership...they were pushing RENTALS? Are you kidding? I actually voted for limiting minority "liar's mortgages" before I voted against it. The spin machine will never stop. This regulations go all the way back to the 70's and 80's....uh yeah, when Barney and his buddies DID have control of Congress. Sorry dude, this BS isn't fooling anyone.
AlaskaDarin_Has_AIDS Posted July 20, 2009 Posted July 20, 2009 I actually voted for limiting minority "liar's mortgages" before I voted against it. The spin machine will never stop. This regulations go all the way back to the 70's and 80's....uh yeah, when Barney and his buddies DID have control of Congress. Sorry dude, this BS isn't fooling anyone. CHECK IT That's what I've been saying all along. Too bad these idiot libs won't accept that the 2008 crash can directly be tied to Barney Frank and Chris Dodd.
finknottle Posted July 20, 2009 Posted July 20, 2009 And you believe that? Liberals werent pushing home ownership...they were pushing RENTALS? Are you kidding? It is the new talking point. I heard him say it on the Dailey Show - even Jon Stewart was chuckling in disbelief before moving on to safer Bush bashing. http://www.huffingtonpost.com/2009/07/14/b...y_n_231360.html
Chef Jim Posted July 20, 2009 Posted July 20, 2009 Blame Frank, Dodd, Bush(both of them), Clinton (hell both of them too), Kennedy, Waters, Wall Street, Main Street, blah, blah, blah....Plenty to go around.
IDBillzFan Posted July 21, 2009 Posted July 21, 2009 It is the new talking point. I heard him say it on the Dailey Show - even Jon Stewart was chuckling in disbelief before moving on to safer Bush bashing. http://www.huffingtonpost.com/2009/07/14/b...y_n_231360.html Frank explains he can't call the stimulus plan the "stimulus plan" and has to call it "a recovery plan" because "it works better with focus groups." Joe Biden must wake up every morning thanking God Almighty for Barney Frank's idiocy. Focus groups. Excellent. Let's find a phrase that people like and we'll call it that. And then we'll brief Barney Frank on it.
swede316 Posted July 21, 2009 Posted July 21, 2009 How long must the blame Bush chant go on before the left gets an original idea? It's been 6 months and the country is starting to realize they elected a guy in waaay over his head. So what do they do...It's Bush's fault and Fox News' fault. How about this....Try actually reading a bill before voting for it and do some good for the country!! Come up with a way outta this mess that's not socialist or raises taxes. Look forward not back. 2010 is not too far off...I say vote em all out and start over!
BillsFan-4-Ever Posted July 21, 2009 Author Posted July 21, 2009 And you believe that? Liberals werent pushing home ownership...they were pushing RENTALS? Are you kidding? Where did I say I believed anything? I started the thread to open a conversation
DC Tom Posted July 21, 2009 Posted July 21, 2009 How long must the blame Bush chant go on before the left gets an original idea? Probably for about eight years after the "It's Clinton's fault" chant from the right ends.
VABills Posted July 21, 2009 Posted July 21, 2009 Probably for about eight years after the "It's Clinton's fault" chant from the right ends. Well that is probably true. However, we still have nearly 9 years later many complaints about stolen elections in Florida.
UBinVA Posted July 21, 2009 Posted July 21, 2009 Read Thomas Sewell "The Housing Boom and Bust" http://www.amazon.com/Housing-Boom-Bust-Th...howViewpoints=1 or read his summary article to get straight to the points. He blames both parties for the mess but the Dems are the root cause. http://jewishworldreview.com/cols/sowell042909.php3
Wacka Posted July 21, 2009 Posted July 21, 2009 It is the new talking point. I heard him say it on the Dailey Show - even Jon Stewart was chuckling in disbelief before moving on to safer Bush bashing. http://www.huffingtonpost.com/2009/07/14/b...y_n_231360.html When the housing went south last fall, O'Riely had on Frank and showed him a 3 month old tape of Frank saying housing was fine. Frank goes and denies he ever said that immediaiately after the tape airs. No one brings up that Frank dated the former head of Fannie Mae or Freddy Mac ((I forget which one)
DC Tom Posted July 21, 2009 Posted July 21, 2009 No one brings up that Frank dated the former head of Fannie Mae or Freddy Mac ((I forget which one) Not particularly relevant.
Magox Posted July 21, 2009 Posted July 21, 2009 When the housing went south last fall, O'Riely had on Frank and showed him a 3 month old tape of Frank saying housing was fine. Frank goes and denies he ever said that immediaiately after the tape airs. No one brings up that Frank dated the former head of Fannie Mae or Freddy Mac ((I forget which one) probably Freddy
Chef Jim Posted July 21, 2009 Posted July 21, 2009 probably Freddy I think it was actually Freddie's Fannie.
StupidNation Posted July 21, 2009 Posted July 21, 2009 Not particularly relevant. Actually it is. I mean "news to earth" Tom needs to discover that you will do favors to people you date, and with gov't power it becomes more relevant.
DC Tom Posted July 21, 2009 Posted July 21, 2009 Actually it is. I mean "news to earth" Tom needs to discover that you will do favors to people you date, and with gov't power it becomes more relevant. No, it's not. Barney Frank's sex life did NOT cause the housing crisis.
Magox Posted July 21, 2009 Posted July 21, 2009 No, it's not. Barney Frank's sex life did NOT cause the housing crisis. Now there's an image
finknottle Posted July 21, 2009 Posted July 21, 2009 No, it's not. Barney Frank's sex life did NOT cause the housing crisis. Not his sex life, no - but a conflict of interest, yes. And if he has a relation with an FM exec it is absolutely a conflict of interest when by virtue of his position he is the de facto regulator. How is this different from the scandal at the Dept of the Interior? I was pretty skeptical about the accusation, but it appears to be true: http://www.foxnews.com/story/0,2933,432501,00.html
IDBillzFan Posted July 21, 2009 Posted July 21, 2009 Not his sex life, no - but a conflict of interest, yes. And if he has a relation with an FM exec it is absolutely a conflict of interest when by virtue of his position he is the de facto regulator. How is this different from the scandal at the Dept of the Interior? I was pretty skeptical about the accusation, but it appears to be true: http://www.foxnews.com/story/0,2933,432501,00.html Some may read too much into this, but while I was reading that story about Frank and Moses, all I kept seeing was a bedroom scene between Saddam and Satan in South Park.
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