Is Barney Frank running scared because there will be an investigation of Fannie Mae and Freddie Mac?
Question by PaRtY 2012 -One Down Two to Go: Is Barney Frank running scared because there will be an investigation of Fannie Mae and Freddie Mac?
When the Republicans take Control they promised to turn over THAT rock . Sibce Barney was For Freddy and Fannie before he was against them and got Sizable amounts in “donations” from them could that be why Barney is afraid?
Barney Frank: Fannie, Freddie ‘Should Be Abolished’
“Geithner told his audience that sunk costs are irrelevant — Fannie and Freddie cost taxpayers roughly $ 150 billion in the two years since they were nationalized — and that what’s important is to focus on fixing the imbalances that led to financial meltdown.
“There is nothing we can do to decrease the significant losses Fannie and Freddie incurred ahead of this crisis,” Geithner told conference attendees. “All we can do is to minimize the risk that they get worse.”
Frank thinks the mortgage giants just need to go, adding “the question is what replaces them.” He also emphasized that part of the solution is recognizing that not everybody should be a homeowner.”
Frank doesn’t. But his fingerprints are all over this fiasco. Time and time again, Frank insisted that Fannie Mae and Freddie Mac were in good shape. Five years ago, for example, when the Bush administration proposed much tighter regulation of the two companies, Frank was adamant that “these two entities, Fannie Mae and Freddie Mac, are not facing any kind of financial crisis.” When the White House warned of “systemic risk for our financial system” unless the mortgage giants were curbed, Frank complained that the administration was more concerned about financial safety than about housing.
http://www.boston.com/bostonglobe/editorial_opinion/oped/articles/2008/09/28/franks_fingerprints_are_all_over_the_financial_fiasco/
Best answer:
Answer by Paul Grass®™℠
Yes Barney knows when its time to cut and run he is in trouble once the gop takes congress
Know better? Leave your own answer in the comments!
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