Rep. Frank questions safety of Fannie Mae, Freddie Mac investments

The Washington Post ^ | Friday, March 5, 2010; 2:41 PM | By Zachary A. Goldfarb

[junta]

I believe Frank crawled out from under the desk and repudiated this. Probably got a call from PIMCO

[twigs]

We just got a letter from Fannie Mae saying that they had assumed our mortgage from Wells Fargo. We just refinanced several months ago and were shocked to get this letter.

[avacado]

Oh Barney! You just don't want people to have afforadable housing, you racist Republican you! /sarc

September 2003

''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.''

http://www.nytimes.com/2003/09/11/business/new-agency-proposed-to-oversee-freddie-mac-and-fannie-mae.html?pagewanted=1

[LeonardFMason]

Barney Frank questioning the safety of FANNIE? Is he changing teams?

[EagleUSA]

Can this be satire? Frank knows that even to suggest anything that would FIX any aspect of the American economy is political suicide with the administration. After all, it was Frank, Dodd, et al, that started the economic collapse in motion in a big way....no, this is satire. Sick satire.

[Lurker]

In a rational world this piece of sh** would already be swinging by his heels from a lamp post.

[NOVACPA]

Why would you be shocked? This is a very common practice.

The banks sell loans to Fannie and Freddie daily.

[junta]

yep

[junta]

Us too, both 800 FICO went thru a broker to Chase to Fannie

[K-oneTexas]

Should be an indicted co-conspirator.

[freespirited]

Freddie has ours, but we didnt get a letter. I found out when, on a hunch, I went to their data base and entered our address.

[Juan Medén]

He must have gotten jilted by his gay lover over at Fannie Mae.

[Tribune7]

Wow. Next thing you know he’ll be questioning the safety of anal sex.

[twigs]

We obtained our first mortgage a year ago from Wachovia and they emphasized, we did Wells Fargo several months ago, that they don’t sell their mortgages. It was a big emphasis on their part.

[Oldpuppymax]

You and your little “friends” are the ones who regulated Fannie and Freddie, Miss Fwank!

[dawn53]

Unbelievable! Such a hypocrite, aren’t there youtube videos of him pounding the desk saying Fannie and Freddie were sound. Oh well, for your afternoon entertainment, one more time, Banking Queen!

http://www.youtube.com/watch?v=a5NrqqK60OI

[FromLori]

Did you see this AIM article?

http://www.aim.org/aim-column/whos-behind-the-financial-crisis/

[WellyP]

The “catcher” should know! He’s one of the slimeballs who has let Freddie and Fannie get in deep..AT OUR EXPENCE!

[a fool in paradise]

An influential voice on Capitol Hill has unexpectedly called into question the safety of investing in Fannie Mae and Freddie Mac, raising the specter that investors who have lent money to the two firms or bought their mortgage-backed securities could one day suffer losses.

Shut your lying PIE HOLE you crook.

LETTER: Bush raised red flags about Fannie and Freddie (South Coast Today ^ | 3/14/08 | Peter D. Friedman)

Starting with the 2002 budget request in April 2001, the Bush administration raised red flags about Fannie Mae and Freddie Mac. In 2003, the White House warned that financial problems with the organizations could spread well beyond the housing sector and proposed to Congress that they create a new regulatory agency to supervise Fannie and Freddie.

On Sept. 10, 2003, Rep. Frank objected, stating, "Fannie Mae and Freddie Mac are not in a crisis"¦ The more people, in my judgment, exaggerate a threat of safety and soundness, the more people conjure up the possibility of serious financial losses to the treasury, which I do not see. I think we see entities that are fundamentally sound financially"¦ But the more pressure there is, then the less I think we will see in terms of affordable housing."