From the Right

Observing my upside down America

Barney Frank should step down as Chairman of the House Financial Services Committee

with 4 comments


Mr. Frank is perhaps the most guilty of all of those who have worked hard to prevent efforts – beginning as far back as 2003 – to address the flawed policies of Fannie Mae and Freddie Mac which Mr. Frank oversees as Chairman of the House Financial Services Committee.

In 2003, Frank opposed Bush administration and Congressional Republican efforts for the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis. Under the plan a new agency would have been created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry. “These two entities, Fannie Mae and Freddie Mac, are not facing any kind of financial crisis,” Frank said. He added, “The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.”

You can read about the GSE meltdown time line here. Try not to blow a gasket or bleed out of your eyeballs when you read what Mr. Frank and his ilk have to say about their management skills and their expert opinions on the matter. They basically tell us to butt-out and to mind our own business.

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Written by Ben

September 29, 2008 at 8:10 pm

4 Responses

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  1. FRANK AND DODD SHOULD STEP DOWN – FRANK DOES NOT KNOW WHAT HE IS DOING AND HAS COST TAXPAYERS FOR GENERATIONS TO COME. HE AND DODD ARE A DIRECT THREAT TO THE AMERICAN DREAM BY WHAT THEY HAVE DONE WITH DREGULATION…FIRST GRADERS KNOW THAT IF YOU HAVE 1 CENT AND THE CANDY COSTS 2 CENTS YOU CAN’T BUY IT..TO FRANK AND DODD YOU CAN BUY IT BECAUSE YOU CAN STEAL IT FROM SOMEONES 401k OR A BAILOUT…PUTTING EVERYONE FURTHER IN THE HOLE…WITH FRANK AND DODD WHO HAS TO WORRY ABOUT OSAMA. FRANK AND DODD HAVE BEEN ABLE TO DO WHAT HE COULD NOT…THIS HAS BEEN ONE F’EN TRAIN REACK AFTER ANOTHER!!!! AND WE PAY THEM FOR THIS!!!!

    MARY PRUNIER

    October 2, 2008 at 11:20 pm

  2. I have to agree; Dodd, Frank, et. al. should do the honorable thing and resign. But since the Clinton administration, I have not seen the Democrat Party embrace honorable principles that serve to ensure the strength of this country.

    … and so the beat goes on.

    buster529

    October 3, 2008 at 5:30 pm

  3. Here is a blog concering Barney Frank and his idea of prosecuting the people responsible for the “crisis” we are now in.
    Check out

    http://optionsinvesting.wordpress.com/2009/03/05/rep-frank-pushes-for-prosecutions-over-meltdown/

    Leave a comment, let me know what you think.
    Steve
    optionsinvesting.wordpress.com

    Steve

    March 25, 2009 at 12:58 pm

  4. Both of these guys must step down!! they are making the US to look like fools

    fritz batsch

    June 8, 2009 at 8:18 am


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