Those darn Republicans caused all of the mess we are in.

Discussion in 'General Discussion' started by Just One Shot, Apr 2, 2009.

  1. Just One Shot

    Just One Shot Member

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    Ohio
    Actually, we can also thank the democrats for much of the nation's problems.

    http://online.wsj.com/article/SB1220...googlenews_wsj

    (Taxpayers are now on the hook for as much as $200 billion to rescue Fannie Mae and Freddie Mac, and if you want to know why, look no further than the rapid response to this bailout from House baron Barney Frank. Asked about Treasury's modest bailout condition that the companies reduce the size of their high-risk mortgage-backed securities (MBS) portfolios starting in 2010, Mr. Frank was quoted on Monday as saying, "Good luck on that," and that it would never happen.

    There you have the Fannie Mae problem in profile. Mr. Frank wants you to pick up the tab for its failures, while he still vows to block a reform that might prevent the same disaster from happening again.

    At least the Massachusetts Democrat is consistent. His record is close to perfect as a stalwart opponent of reforming the two companies, going back more than a decade. The first concerted push to rein in Fan and Fred in Congress came as far back as 1992, and Mr. Frank was right there, standing athwart. But things really picked up this decade, and Barney was there at every turn. Let's roll the audiotape:

    In 2000, then-Rep. Richard Baker proposed a bill to reform Fannie and Freddie's oversight. Mr. Frank dismissed the idea, saying concerns about the two were "overblown" and that there was "no federal liability there whatsoever."

    Two years later, Mr. Frank was at it again. "I do not regard Fannie Mae and Freddie Mac as problems," he said in response to another reform push. And then: "I regard them as great assets." Great or not, we'll give Mr. Frank this: Their assets are now Uncle Sam's assets, even if those come along with $5.4 trillion in debt and other liabilities.

    Again in June 2003, the favorite of the Beltway press corps assured the public that "there is no federal guarantee" of Fan and Fred obligations.)

    It seems that he was in bed with Fannie May (literally) for some time!

    http://www.businessandmedia.org/arti...924145932.aspx

    ( The news media have covered the relationship in the past, but there have been no mentions since 2005, according to Nexis and despite the collapse of Fannie Mae. The July 3, 1998, Reliable Source column in The Washington Post reported Frank, who is openly gay, had a relationship with Herb Moses, an executive for the now-government controlled Fannie Mae. The column revealed the two had split up at the time but also said Frank was referring to Moses as his “spouse.” Another Washington Post report said Frank called Moses his “lover” and that the two were “still friends” after the breakup.)

    I guess the media really is biased!

    Well, almost all of them here's a good video you might enjoy:

    http://www.swamppolitics.com/news/politics/blog/2008/10/oreilly_vs_barney_frank_knockd.html
     
    Last edited: Apr 2, 2009
  2. ponycar17

    ponycar17 Active Member

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    Yep, Barney (pronounced Bawneyyyy) is a true enemy of the people. His type pushed for these loans to be made and are now placing blame on Republicans.

    The sad part is that most of the public isn't perceptive or interested enough to put the pieces together and place the blame where it belongs. The Democrats have gotten away with setting the economy up for disaster and then being rewarded for doing so. :mad:
     
    Last edited: Apr 2, 2009