Seattle Bubble Forum Archive

Here is what Barney Frank said at the time as quoted from the NYT link below:

''These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.''

Just wow...

New York Times story here: http://query.nytimes.com/gst/fullpage.h ... nted=print

One question on this article. It seems to be strongly pointing out the democrats who were against this proposal. The article makes it sound like this was a bill supported by Bush, but then most republicans are for deregulation. So who really supported and who really opposed it (other than Barney Frank)?

My hunch is that this is only news because some Dems didn't back it. If the initial position is Dems like regulation and Reps don't, then the fact that many republicans opposed the proposition is not news in the sense that it's not surprising.

Again, both houses were controlled by the republicans, so even if every democrat voted against the measures could have been pushed through in a partisan manner.

Hopefully, this news does harm Frank, as he was clearly incompetent at his position.

You're right, sorry. The info is fed to Rush and Hannity et al, though. It just seems wrong to make an issue out of a $30K or so contribution to one candidate, when we're facing a depression created by the alternate party. Obviously Obama isn't beholden to Fannie or Freddie.

More proof that Republicans need to be shunned & marginalized. I haven't met one yet who isn't a gigantic hypocrite.

I would rather have running the Financial Services Committee than Barney Frank. Or maybe . I think they'd do less harm