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More Great Ideas from Barney Frank

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June 24, 2009 – Comments (2)

Having been as wrong as this guy has been, someone with shame might, I dunno, shut up. But that's not what makes a Senator.

Back when the housing mania was taking off, Massachusetts Congressman Barney Frank famously said he wanted Fannie Mae and Freddie Mac to "roll the dice" in the name of affordable housing. That didn't turn out so well, but Mr. Frank has since only accumulated more power. And now he is returning to the scene of the calamity -- with your money. He and New York Representative Anthony Weiner have sent a letter to the heads of Fannie and Freddie exhorting them to lower lending standards for condo buyers.

This, of course, is exactly why we shouldn't have government controlled banks, nor government sponsored banks, of any kind, for any real duration. These bozos simply can't resist the urge to make policy without really knowing what they're doing. They're committing the same kind of idiocy with GM as regards dealer closings.

Sj

2 Comments – Post Your Own

#1) On June 24, 2009 at 11:30 PM, Option1307 (29.84) wrote:

"roll the dice"

hahaha, who actually thought this would work. Why didin't they just hit the craps tables in LV. We would have faired better financially, LV economy would be saved, and life would be good!

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#2) On June 24, 2009 at 11:35 PM, stylecounciler (73.83) wrote:

It's not just farmers. All sorts of businesses have been bought off, and will  provide future long term campaign contributors out into the future. It's the shakedown of the century.

 

Farmers votes have been bought again. The rest of us keep paying high prices for ethanol and "other farm products". Farmers know that CO2 is food for plants, but money talks. You and I will pay high taxes while giving all the more power to Washington politicians.House Dems Improve Climate Bill's Chances for Floor Win With Deal on Ag Issues - NYTimes.com

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