What do you think about Rep. Barney Frank & Weiner latest request to Frannie & Freddie?
Reps. Frank & Weiner are asking Freddie & Freddie Mac to roll back recently enacted restrictions and lower their lending standards. They said this was too odorous for the poor.
It looks like they are still in bed with Freddie & Fannie and want the rest of us to keep bailing them out. I guess they want to buy up more property for themselves and those they owe favors to. Then again, it could just be another ACORN scheme they are involved in.
It will be interesting to see where this goes and how much the media actually covers it.
I heard this this morning on Morning Joe or FOX news. Not sure which one as I switch between the two in the morning.
Spock (rhp)2009-07-07T13:57:15Z
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you tax dollars at work.
Barney Frank isn't content with already having caused trillions in losses to the government and private investors, he wants to do it all over again.
of course, this time the private investors probably won't play at all, so the government will be left holding the bag -- that's your tax dollars at work.
we'd probably be better off to simply shovel money out the door of helicopters flying over America's cities.
area of the deal substitute into timing. Fannie Mae and Freddie Mac have been area and parcel of the monetary "bubble" of the late '90s and early-mid 2000s wherein actual assets loans have been monetized and acquired as "A" securities while they in actuality have been junk bonds. no longer basically have been guy or woman investors snookered into this deal, instructed that those have been sound investments, yet united statesa. government (its taxpayers, besides) have been additionally scammed to the quantity that public money have been used to prop up Fannie Mae and Freddie Mac. (Please be conscious that Barack Obama substitute into the main efficient recipient of Fannie Mae and Freddie Mac marketing campaign contributions on a similar time as in the Senate, accompanied heavily by potential of Barney Frank. That on my own substitute into in all probability sufficient clarification for Frank to run interference for the own loan lenders of final hotel.) NOW Barney Frank and Barack Obama choose to roll up the investment bubble this is Fannie Mae and Freddie Mac. If Scott Brown does no longer something to justify his place in the Senate, he, the different Senate Republicans and the Blue canines can filibuster this little rip-off till an exhaustive prognosis of the place the money went in the country's own loan lenders of final hotel could be made and collusion on the area of their significant marketing campaign beneficiaries, Barack Obama and Barney Frank, could be investigated and correct punished. Impeachment could look the ideal course in the two circumstances.
tho frank is fairly intleigent, he's not terribly cogent and it seems usually quite a schemer and not to be trusted. people continue to blame bush for this and it's quite obvious that frank played a huge roll in our current financial woes as welll as all the way back to carter.
I'd have to see what "lowering their lending standards" actually meant. Lenders have been incredibly tight as of late. Some argue they are creating additional economic problems.