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New Ad Ties Barney Frank to Fannie & Freddie
TheBlaze.com ^ | 10-25-2010 | Meredith Jessup

Posted on 10/25/2010 5:14:35 AM PDT by FreepShop1

About time someone made an ad like this. (posted on TheBlaze.com). No hype, not even a voiceover. Just the facts, which are absolutely damning. I would suggest the makers of the ad adapt it to go NATIONAL. Could do a lot of damage to Dems. For now, to help run it to defeat Barney Frank, use donation link below:

"BETRAYED OUR TRUST"


TOPICS:
KEYWORDS: barney; barneyfrank; corruption; election; fannie; fanniemae; ferguson; finreg; foreclosuregate; frank; freddie; freddiemac; insidejob; massachusetts; teaparty

1 posted on 10/25/2010 5:14:38 AM PDT by FreepShop1
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To: FreepShop1

Powerful!


2 posted on 10/25/2010 5:26:32 AM PDT by houeto ("You know, I actually believe my own bullsh_t," --- BHO)
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To: FreepShop1

I’ll bet Barney’s been tied to a fannie or two before.


3 posted on 10/25/2010 5:27:36 AM PDT by reagan_fanatic (Today, Congress. Tomorrow, the White House!)
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To: reagan_fanatic

And probably to Freddy’s fannie as well.


4 posted on 10/25/2010 5:29:45 AM PDT by ROCKLOBSTER (Celebrate: Republicans freed the slaves Month.)
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To: FreepShop1

Barney Frank tied to Freddie’s Fannie?...............


5 posted on 10/25/2010 5:29:51 AM PDT by Red Badger (WOULD SOMEBODY PLEASE GIVE MEGHAN MCCAIN A BOX OF KRISPY KREMES SO SHE'LL SHUT THE HELL UP?!)
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To: FreepShop1

Barney Frank is the single most responsible person to have caused the global financial crisis. He must be defeated. BTW, great add.


6 posted on 10/25/2010 5:30:20 AM PDT by bjorn14 (Woe to those who call good evil and evil good. Isaiah 5:20)
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To: FreepShop1; RedMDer; onyx; maggief; STARWISE; Liz; nutmeg; MinuteGal

This ad could use some support.


7 posted on 10/25/2010 5:34:08 AM PDT by hoosiermama (ONLY DEAD FISH GO WITH THE FLOW.......I am swimming with Sarahcudah! Sarah has read the tealeaves.)
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To: FreepShop1

but will the ultra libs in his district prevail over common sense...

Tune in November 3rd for the definitive answer...


8 posted on 10/25/2010 5:39:20 AM PDT by Vaquero ("an armed society is a polite society" Robert A. Heinlein)
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To: FreepShop1

Good! I hope it gets run nightly in Beilat’s district!


9 posted on 10/25/2010 5:43:43 AM PDT by Celtic Cross (I AM the Impeccable Hat.)
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To: FreepShop1

Frank’s ex-”spouse” Herb Moses (you remember, the one who was a Fannie Mae exec in charge of low-income loan programs) quietly took a new position at the FDIC in California. Recently Frank has been criticized for using his power as a member of Congress to pressure the FDIC to give special assistance to a California bank partially owned by the husband of Congresswoman Maxine Waters of California. Frank even voted to give special support - by name - to that same bank.

Google these terms to read a bit more: Frank, FDIC, Fannie, Freerepublic.

No one is yet reporting the curious timing of Moses’ resurrection at FDIC right when Frank (Moses’ ex-”spouse”) was demanding special assistance from the FDIC.


10 posted on 10/25/2010 5:47:19 AM PDT by Notwithstanding
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To: FreepShop1

Let’s assume Barney’s intentions are good, but his role in Fannie/Freddie shows that he thinks he knows more about our financial machinery than he actually knows. He needs to be replaced.


11 posted on 10/25/2010 6:02:04 AM PDT by frposty (I'm a simpleton)
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To: Vaquero
but will the ultra libs in his district prevail over common sense...

Recall that, despite the "ultralibs" in his district that Scott Brown CARRIED Barney Frank's district in January. This ad CAN work, if it gets enough support.

12 posted on 10/25/2010 6:05:02 AM PDT by FreepShop1
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To: FreepShop1

‘Bout d@mn time. This should be a NATIONAL commercial.
Unfortunately, Frank is still gonna win. The people of the People’s Democratic People’s Republic of Massachusetts are that attached to Democrat party. It took a Kennedy’s death, a weak, corrupt, Democrat candidate, and a miracle to elect a liberal Republican to the Senate there.
It just ain’t possible to defeat a Democrat incumbent in PDRM, no matter how dreadful he is.


13 posted on 10/25/2010 6:05:18 AM PDT by Little Ray (The Gods of the Copybook Heading, with terror and slaughter return!)
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To: FreepShop1

14 posted on 10/25/2010 6:10:39 AM PDT by pgyanke (You have no "rights" that require an involuntary burden on another person. Period. - MrB)
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To: Little Ray
Unfortunately, Frank is still gonna win. The people of the People’s Democratic People’s Republic of Massachusetts are that attached to Democrat party.

Scott Brown carried Barney Frank's district by 7 points. There are lots of middle and working class voters there who will react with fury at an ad like this. That's why I am supporting it.

15 posted on 10/25/2010 6:19:10 AM PDT by FreepShop1
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To: FreepShop1
From 2008...

Media Mum on Barney Frank's Fannie Mae Love Connection:
Democratic House Financial Services Committee Chair promoted GSEs while former 'spouse' was Fannie Mae executive

By Jeff Poor
Business & Media Institute, 9/24/2008

excerpt...

"Frank, who is openly gay, had a relationship with Herb Moses, an executive for the now-government controlled Fannie Mae. The column revealed the two had split up at the time but also said Frank was referring to Moses as his "spouse." Another Washington Post report said Frank called Moses his "lover" and that the two were "still friends" after the breakup.

Frank was and remains a stalwart defender of Fannie Mae, which is now under FBI investigation along with its sister organization Freddie Mac, American International Group Inc. (NYSE:AIG) and Lehman Brothers (NYSE:LEH) – all recently participants in government bailouts. But Frank has derailed efforts to regulate the institution, as well as denying it posed any financial risk."

http://www.businessandmedia.org/printer/2008/20080924145932.aspx
____________________________________________________________

Lawmaker Accused of Fannie Mae Conflict of Interest

By Bill Sammon, October 03, 2008

WASHINGTON -- Unqualified home buyers were not the only ones who benefitted from Massachusetts Rep. Barney Frank’s efforts to deregulate Fannie Mae throughout the 1990s.

So did Frank’s partner, a Fannie Mae executive at the forefront of the agency’s push to relax lending restrictions.

Now that Fannie Mae is at the epicenter of a financial meltdown that threatens the U.S. economy, some are raising new questions about Frank's relationship with Herb Moses, who was Fannie’s assistant director for product initiatives. Moses worked at the government-sponsored enterprise from 1991 to 1998, while Frank was on the House Banking Committee, which had jurisdiction over Fannie.

Both Frank and Moses assured the Wall Street Journal in 1992 that they took pains to avoid any conflicts of interest. Critics, however, remain skeptical.

"It’s absolutely a conflict," said Dan Gainor, vice president of the Business & Media Institute. "He was voting on Fannie Mae at a time when he was involved with a Fannie Mae executive. How is that not germane?

"If this had been his ex-wife and he was Republican, I would bet every penny I have - or at least what’s not in the stock market - that this would be considered germane," added Gainor, a T. Boone Pickens Fellow. "But everybody wants to avoid it because he’s gay. It’s the quintessential double standard."

A top GOP House aide agreed.

"C’mon, he writes housing and banking laws and his boyfriend is a top exec at a firm that stands to gain from those laws?" the aide told FOX News. "No media ever takes note? Imagine what would happen if Frank’s political affiliation was R instead of D? Imagine what the media would say if [GOP former] Chairman [Mike] Oxley’s wife or [GOP presidential nominee John] McCain’s wife was a top exec at Fannie for a decade while they wrote the nation’s housing and banking laws."

Frank’s office did not immediately respond to requests for comment.

Frank met Moses in 1987, the same year he became the first openly gay member of Congress.

"I am the only member of the congressional gay spouse caucus," Moses wrote in the Washington Post in 1991. "On Capitol Hill, Barney always introduces me as his lover."

The two lived together in a Washington home until they broke up in 1998, a few months after Moses ended his seven-year tenure at Fannie Mae, where he was the assistant director of product initiatives. According to National Mortgage News, Moses "helped develop many of Fannie Mae’s affordable housing and home improvement lending programs."

Critics say such programs led to the mortgage meltdown that prompted last month’s government takeover of Fannie Mae and its financial cousin, Freddie Mac. The giant firms are blamed for spreading bad mortgages throughout the private financial sector.

Although Frank now blames Republicans for the failure of Fannie and Freddie, he spent years blocking GOP lawmakers from imposing tougher regulations on the mortgage giants. In 1991, the year Moses was hired by Fannie, the Boston Globe reported that Frank pushed the agency to loosen regulations on mortgages for two- and three-family homes, even though they were defaulting at twice and five times the rate of single homes, respectively.

Three years later, President Clinton’s Department of Housing and Urban Development tried to impose a new regulation on Fannie, but was thwarted by Frank. Clinton now blames such Democrats for planting the seeds of today’s economic crisis.

"I think the responsibility that the Democrats have may rest more in resisting any efforts by Republicans in the Congress or by me when I was president, to put some standards and tighten up a little on Fannie Mae and Freddie Mac," Clinton said recently.

Bill Sammon is FOX News' Washington Deputy Managing Editor.

http://www.foxnews.com/printer_friendly_story/0,3566,432501,00.html

16 posted on 10/25/2010 6:19:36 AM PDT by ETL (ALL (most?) of the Obama-commie connections at my FR Home page: http://www.freerepublic.com/~etl/)
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To: FreepShop1

If there were any justice at all Frank would be behind bars.


17 posted on 10/25/2010 6:22:57 AM PDT by Personal Responsibility ("In a time of universal deceit, telling the truth is a revolutionary act" - Orwell)
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To: hoosiermama
More bad news for bwaney:

What You Don’t Know about “Mortgagegate” Could Crush the U.S. Banking System
Money Morning | 10/15/2010 | Shah Gilani, Contributing Editor
FR Posted on October 25, 2010 Chunga85

Frightening Fallout In order to easily buy and sell mortgages between themselves so that these loans might be repackaged, securitized and then sold to investors as mortgage-backed securities, banks and other lenders needed a quick way to "trade" individual mortgages.

They created a company called Mortgage Electronic Registration Systems (MERS). This group includes Bank of America Corp. (NYSE: BAC), GMAC LLC (NYSE: GMA), Wells Fargo & Co. (NYSE: WFC), Washington Mutual (now owned by JPMorgan Chase), the United Guaranty Corp. unit of American International Group Inc. (NYSE: AIG), Fannie Mae (OTC: FNMA), Freddie Mac (OTC: FMCC), mortgage-servicing companies and other similarly interested members.

You may not realize it, but at your home-purchase "closing," you sign a document that appoints MERS as the "nominee" for the lender that granted you a mortgage. That gives the nominee the right to flip your mortgage to any other bank or lender it chooses. That's how banks move mortgages around to package them into different securities.

But that brings us to the crux of the controversy: Every time there's change on the title (a change occurs when the nominee switches the lender on your title out for another), local governments require that a new title be recorded. Of course, those governments - the county or municipality that you live in - also charge a "recording fee." MERS also charges a fee, but it's a lot less than government recording fees.

Here's the problem. In creating MERS, these institutions actually changed the land-title system that this country - for much of its history - has relied upon to determine legal ownership status of land titleholders (Excerpt) Read more at moneymorning.com ...

18 posted on 10/25/2010 6:23:31 AM PDT by Liz (Nov 2 will be one more stitch in Obama's political shroud.)
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To: hoosiermama; stephenjohnbanker; CutePuppy
Barney Frank rakes in $40G from bailed out banks
Boston Herald ^ | October 22, 2010 | Dave Wedge
FR Posted on Friday, October 22, 2010 by GQuagmire

US Rep Barney Frank, in an intensifying clash with GOP upstart Sean Bielat, has pledged not to take campaign cash from lenders that got federal bailouts — yet has raked in more than $40,000 from bank execs and special interests connected to the staggering government loans, a Herald review found.

Frank vowed in February 2009 that he wouldn’t accept campaign donations from banks that received money under the $700 billion Troubled Asset Relief Program (TARP) or political action committees tied to such institutions.

But Frank has hauled in thousands from top execs at Bank of America, Citizens Bank, Wainwright Bank, JP Morgan Chase and other institutions that received billions in TARP money.

19 posted on 10/25/2010 6:26:29 AM PDT by Liz (Nov 2 will be one more stitch in Obama's political shroud.)
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To: hoosiermama

BUMP!


20 posted on 10/25/2010 6:29:23 AM PDT by maggief
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To: pgyanke

Yeah, and we know who's fannie he loves!

21 posted on 10/25/2010 6:31:37 AM PDT by JaguarXKE (RINOs be gone!)
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To: FreepShop1
Scott Brown carried Barney Frank's district by 7 points. There are lots of middle and working class voters there who will react with fury at an ad like this. That's why I am supporting it.

Scott Brown won several districts be at least 7% points, but the 4th (Barney's district wasn't) on of them. He did win the district (barely) by less than 1%. This is a tough race for an R. Doable this year, but still very tough.

22 posted on 10/25/2010 6:38:08 AM PDT by sonnysteelgrave (Don't Blame me, I'm from Massachusettes)
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To: ETL

Herb Moses recently started working for the FDIC.
See post #10, above.


23 posted on 10/25/2010 6:39:48 AM PDT by Notwithstanding
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To: Notwithstanding
Herb Moses recently started working for the FDIC [Federal Deposit Insurance Corporation]. See post #10, above.

Thanks. I'll check it out.

24 posted on 10/25/2010 6:45:09 AM PDT by ETL (ALL (most?) of the Obama-commie connections at my FR Home page: http://www.freerepublic.com/~etl/)
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To: bjorn14
....."Barney Frank is the single most responsible person"....

For more responsible names go to You Tube and search for "Burning Down The House". There is one video that has been removed and put back up a thousand times with damning comments by Dems trying to cover up Fannie and Freddie bankruptcy. Even to the point of calling the Bush era investigation of Fannie a "lynching" when they asked Frank Raines about the "books". A few weeks later, Raines resigned with $90 million take home and the "books" were audited for 5 previous years and found to be bogus. Enron went to prison for a tenth of the money and Raines went to Obama's economic team.

25 posted on 10/25/2010 6:46:59 AM PDT by chuckles
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To: FreepShop1

bump


26 posted on 10/25/2010 6:50:24 AM PDT by VOA
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To: FreepShop1

How much did Kennedy carry that district by, when he was (sorta) alive? Because that is what is behind slobbering Barney - the incumbent factor.
Hopefully, I’m wrong and “incumbent” is a check against Frank, but I wouldn’t bet anything I couldn’t afford to lose on it.


27 posted on 10/25/2010 7:09:28 AM PDT by Little Ray (The Gods of the Copybook Heading, with terror and slaughter return!)
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To: FreepShop1

BFL


28 posted on 10/25/2010 8:28:30 AM PDT by zeugma (Ad Majorem Dei Gloriam)
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To: sonnysteelgrave; onyx; Lauren BaRecall; neverdem
Who has the MA list? Needs supporting and repeating:...Scott Brown carried Barney Frank's district by 7 points. There are lots of middle and working class voters there who will react with fury at an ad like this...
29 posted on 10/25/2010 8:47:17 AM PDT by hoosiermama (ONLY DEAD FISH GO WITH THE FLOW.......I am swimming with Sarahcudah! Sarah has read the tealeaves.)
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To: ROCKLOBSTER

“And probably to Freddy’s fannie as well.”

Not to mention Mac’s fannie.


30 posted on 10/25/2010 9:42:08 AM PDT by EQAndyBuzz (Remember March 23, 1775. Remember March 23, 2010)
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To: Personal Responsibility

“If there were any justice at all Frank would be behind bars.”

If there were a justice department, Frank would be behind bars.


31 posted on 10/25/2010 9:44:09 AM PDT by EQAndyBuzz (Remember March 23, 1775. Remember March 23, 2010)
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To: Liz

” But Frank has hauled in thousands from top execs at Bank of America, Citizens Bank, Wainwright Bank, JP Morgan Chase and other institutions that received billions in TARP money. “

This should comprise most of the advertising against Frank. Wrap it around his neck.


32 posted on 10/25/2010 11:36:15 AM PDT by stephenjohnbanker
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To: Liz; hoosiermama; stephenjohnbanker; All
Excerpt from the review of the Inside Job, a movie by the "progressive" filmmaker Charles Ferguson (filmmaker of another documentary, No End in Sight - a liberal's view of the U.S. conduct in the Iraq war) by a fairly liberal but very well grounded economically Gene Epstein:
Movie Review: Inside Job - Misdirected Outrage - B, by Gene Epstein, 2010 October 23

I am not holding my breath on a few ads like this making a difference in Frank's district, though miracles do happen in Massachusetts.

33 posted on 10/25/2010 7:42:45 PM PDT by CutePuppy (If you don't ask the right questions you may not get the right answers)
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To: CutePuppy
Nice research.

Barney Frank has left a long trail as an aggressive supporter of the government-sponsored enterprises Fannie Mae and Freddie Mac, financial institutions that did not originate mortgages, but only bought them in the secondary market. The basic nature of the GSEs' business was therefore securitization, and increasingly of the subprime kind, which Frank extolled.

According to a front-page story in the Boston Globe, run the day before the Globe critic posted his rave of Inside Job, Congressman Frank actively opposed initiatives in 2003 and '04 to rein in Fannie and Freddie through tighter regulation ("Stance on Fannie and Freddie Dogs Frank," Oct. 14). "He and other House Democrats," reported the Globe, "also sent a letter to President George W. Bush in June 2004, saying the proposed crackdown could 'weaken affordable housing performance by emphasizing only safety and soundness.' ..... < snip >

34 posted on 10/25/2010 8:13:06 PM PDT by Liz (Nov 2 will be one more stitch in Obama's political shroud.)
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To: hoosiermama; cgk
Who has the MA list?

cgk links UPDATED MASTER List of FReeper PING LISTS; Vol. VIII - SPRING Edition! from cgk's homepage. It has not been updated since April 04, 2007. I'm not aware of any MA list.

35 posted on 10/26/2010 6:16:48 AM PDT by neverdem (Xin loi minh oi)
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To: CutePuppy

Good job!


36 posted on 10/26/2010 11:18:35 AM PDT by stephenjohnbanker
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