Barney Frank - Then And Now


Posted on : 10/17/2010 05:36:00 PM | By : Dann | In : , ,

When....ahem....Republican.....President George W. Bush wanted to overhaul the mortgage lending industry, Mr. Frank stood solidly opposed.

''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.''
 Now that the damage has been done, he sings a different tune.

“Low-income home ownership has been a mistake, and I have been a consistent critic of it,’’ said Frank, 70. Republicans, he said, were principally responsible for failing to reform Fannie Mae and Freddie Mac, the mortgage giants the government seized in September 2008.
Emphasis added.

Tar and feathers are too good for him.  Links to the respective stories may be found here.

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