Posted on 02/09/2009 2:46:54 AM PST by Cindy
(CNSNews.com) - House Financial Services Chairman Barney Frank (D.-Mass.) said yesterday that an unregulated “private market” in the financial industry caused a lot of problems that the Democratic Congress now needs to fix.
Frank also suggested that Americans now “hate” banks and that helping people stave off foreclosure on their mortgages, government scrutiny of executive compensation, higher taxes, and prodding banks to lend more money may all be part of the solution to what ails the U.S. economy.
“Well, there is no very good approach because, frankly, a philosophy of let the private market do whatever it wants, don’t regulate capital, keep capital--keep the, the government out of it--Alan Greenspan acknowledged, the leader of that philosophy, it caused a lot of problems,” said Rep. Barney Frank (D-Mass.) on NBC’s “Meet the Press. “And we now have to try and fix them.”
(Excerpt) Read more at cnsnews.com ...
Well, aside from the fact that the market was anything but unregulated...
It’s Barney Frank and he doesn’t know beans from bean counters, in my opinion.
Which one was it? Freddie or Fannie where Barney had a butt boy? Probably Fannie (the irony), but I can't remember at the moment.
5.56mm
I’m not sure — it was an unusual arrangement of some type, if I recall correctly.
If there is any one individual or event that is at the center of our current problems its Barney and his social engineer programs in 1992.
Fanny Mae and Freddie Mac.
What a d!ckhead.
Barney is the best economic guy they got???
LOL!!
Hey Barn! How come Iceland folded up? How come the Brits are in as much trouble as we are? Both of those economies had just the kinds of regulation you want to see here...
Didn’t do such a hot job over there, did it?
This jerk was a huge part of the problem and should be in jail. Now this arrogant SOB claims he’s the solution. Amen
Code-speak for don't bother reading any further. You know all you need to know about what's in the article.
Hopefully they will misinterpret the election, think it was a mandate for their peculiar brand of politics and promptly go too far. For the most part the people who voted for Obama were doing just that, voting for Obama. They weren't voting for the likes of Pelosi, Reid, Franks, etc. They are just too dumb to know that electing Obama meant empowering all these clowns.
Massachusetts takes such pride in its universities (without them the economy of the state would be no larger, I suppose, than Montana). Yet the politicians the state produces are little more than babbling fools. You can draw your own conclusions.
The list goes on and on. And now we've got the people who were steering this economic "Exxon-Valdeze" claiming that it wasn't their fault, that they weren't on watch, but now they're going to fix the problem that they caused!
We just need to give them LOTS of money, and everything will be just fine.
Mark
And has everyone in the country forgotten that the rats have been in control of the congress for the past two years? Where was the oversight? Where was it?????
The Public should have full access to these dirt bags. UNNREGULATED! Are you kidding me! Please someone start an armed revolution now so at least I can die fighting against these lying turds.
I’m not sure if this falls under the heading of Irony or Hypocrisy.
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