Tuesday, November 29, 2011

Bye, Bye Barney

The WSJ bids Barney Frank, who announced he will not seek re-election, adieu.
Few House Members have made a bigger legislative mark, and arguably no one so expensively. Mr. Frank deserves to be forever remembered—and we'll help everyone remember him—as the nation's leading protector of Fannie Mae and Freddie Mac before their fall. For years Barney helped block meaningful reform of the mortgage giants while pushing an "affordable housing" agenda that helped to enlarge the subprime mortgage industry.

"I do think I do not want the same kind of focus on safety and soundness that we have in OCC [Office of the Comptroller of the Currency] and OTS [Office of Thrift Supervision]," Mr. Frank said on September 25, 2003, in one of his many legendary rhetorical hits. "I want to roll the dice a little bit more in this situation towards subsidized housing." The dice came up snake-eyes for the housing market and U.S. economy.
Here's his famous reaction to being asked if he thought he bore any responsibility for the housing bubble.



How dare anyone question the wisdom of Barney Frank and his desire to play craps with the U.S. housing market.

3 Comments:

Blogger Dannytheman said...

In my not so humble opinion, he is a perfect example of everything wrong with a politician.

I am not sad he is leaving, maybe he will say another great thing about sub prime mortgages!

Asshat of serious proportion!

November 29, 2011 at 12:53 PM 
Blogger Bob Bohne said...

Danny - He doesn't speak highly of you either.

November 30, 2011 at 5:53 PM 
Blogger Bob Bohne said...

Hard to draw any conclusion about this video. Notice the editing at the 30 second mark in the heat of the exchange, and again at the 90 second mark. Hmmmm

December 1, 2011 at 12:33 PM 

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