Shooting Craps with the Economy
How would you feel if one of your Congressmen, a really powerful one, decided to gamble with our financial system in order to tack down a little more subsidized housing?
Yeah, that’d make me feel great, too. How about if that same socialist tool was one of the few people writing the plan to bail us out of the mess that his little gamble caused us?
Well, here’s Barney Frank (along with a host of other influential Democrats on record as saying that there was no problem at all with Fannie Mae and Freddie Mac).
House Financial Services Committee hearing, Sept. 25, 2003:
Rep. Frank: I do think I do not want the same kind of focus on safety and soundness that we have in OCC [Office of the Comptroller of the Currency] and OTS [Office of Thrift Supervision]. I want to roll the dice a little bit more in this situation towards subsidized housing. . . .
Roll the dice?
Hey, why not. It’s not like he was gambling with his own money. And he knew he’d never be held accountable by the MSM for anything he said. If the MSM would even slightly report his “oh, let the whole thing burn down, so long as I get what I want” attitude in the past, America would be looking for some payback right about now.
Lucky for him, huh?
(via Ace)
Other Posts of Interest:
- Hey Dems! How About Some Congressional Hearings on this Financial Mess?
- Can We Use the Threat of Insolvency to Goad Banks into Making Their Own Deals?
- Yet More on the Mortgage Mess, Including What Must Happen
Category: The Economy and Your Money
It's starting to get noticed how Frank's name is all over this. Let's hope it continues to grow legs.