Barney Frank: Only a Racist Would Criticize Me (UPDATE: Well, Guess Who’s A Racist Like Us?)
Yesterday, we learned that if you criticize Barack Obama for his long association with an anti-American scumbag terrorist who became the darling of the Chicago political scene, you’re a racist.
Today, if you criticize Democrats in any way for their responsibility in this financial crisis, you’re also a racist. That’s according to Barney Frank, whose boyfriend was a VP for Fannie Mae while he sat on the House Committee that had oversight duties of the government-sponsored entity and who repeatedly said that there was no crisis a’brewing back when the President and John McCain tried to rein them in.
Frank charged that conservatives aim to shift blame for the market meltdown away from Wall Street and toward minority-lending laws like the federal Community Reinvestment Act.
“The bizarre notion that the Community Reinvestment Act . . . somehow is the cause of the whole problem, (conservatives) don’t mind that,” the lawmaker said. “They’re aware that the affordable-housing goals of Fannie Mae and Freddie Mac (and) the Community Reinvestment Act (aim to help) poor people. And let’s be honest, the fact that some poor people are black doesn’t hurt either from their standpoint.”
Some help they turned out to be. Thanks to folks like Barney Frank, lots of poor folks will end up without a place to live and an even worse credit rating.
Yeah, that’s really helping there, Congressman.
As a side note, he has a really bizarre notion of “affordable” doesn’t he? If the CRA really made all those houses affordable, we wouldn’t have this problem right now. If his efforts really made homes “affordable” then why did prices of homes climb so high that only the predatory lending practices demanded by the Federal government could get the poor into homes?
The fact of the matter is the CRA failed not once but twice. Not only did it leave poor people rose off than before they encountered the kindly ministrations of our government, but it made houses less affordable. Both of those things happened because Barney Frank and his ilk couldn’t leave well enough alone.
And what’s worse, folks at Fannie Mae knew exactly who was calling the shots on the mortgages they encouraged the private companies to give. There was no doubt that the GSEs were under the gun to put poor people into mortgages by any means possible. Note that there was no goal whatsoever to make sure the poor people could honor those mortgagtes for more than a couple or three months. Just get them in, chalk up the success, collect the nice fat bonus, kick some money back to Frank and Chris Dodd and Barack Obama, and to hell with America.
Hey, call me racist all you want Congressman Frank, but if Congress had kept its thieving hands out of the mortgage industry, this crisis would not have happened. That’s simply the truth and no amount of changing the argument by throwing up ridiculous insults changes it.
UPDATE: Robert McCain puts on his racist hat and lists a whole bunch of other racists, too.
We’re all racists now!
UPDATE 2: Did I say that we’re all racists now? Well, we are, Barney Frank included! Get a load of what he said back in August.
But we have made a mistake in this society. The assumption that everybody can be a homeowner is wrong. We pushed and encouraged people into home ownership – people who, in some cases, weren’t ready for it. You can’t act on wishes that are unrealistic without having negative consequences.
What a difference a couple months and a Hindenburg-like repudiation of your stupid socialist tinkering makes, eh Congressman?
Other Posts of Interest:
- Hey Dems! How About Some Congressional Hearings on this Financial Mess?
- Republicans: A Week Late and 700 Billion Dollars Short.
- Shooting Craps with the Economy
Category: Our New Democratic Overlords, The Economy and Your Money
