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Barney Frank haunted by 2003 remarks on lenders ("I was wrong on both counts.")
UPI ^ | 10/14/10

Posted on 10/14/2010 8:39:51 PM PDT by Libloather

Frank haunted by 2003 remarks on lenders
Published: Oct. 14, 2010 at 9:39 PM

BROOKLINE, Mass., Oct. 14 (UPI) - Remarks about Fannie Mae and Freddie Mac by U.S. Rep. Barney Frank, D-Mass., during a 2003 committee hearing have become a campaign issue in 2010.

Frank said then that the two government enterprises were strong enough to withstand any threats -- and that if they did get into trouble they would not get a government bailout. Sean Bielat, the Republican seeking Frank's seat, has a clip from 2003 on his campaign Web site, "Retire Barney," and Frank has been struggling to explain himself, The Boston Globe reports.

Frank acknowledges what he said in 2003 was "wrong on both counts." He said he was defending Fannie and Freddie because he was afraid the Bush administration wanted to shut them down.

Armando Falcon, who headed the government office in charge of overseeing Fannie and Freddie, reported in early 2003 that both had taken on too much risky debt. Both President Bill Clinton and his successor, George W. Bush, had pushed Fannie and Freddie to expand acquisition of mortgages to expand home ownership.

Bielat calls Frank "one of the leaders of economic disaster" but Peter Morici, a conservative leaning University of Maryland economist, called the mortgage crisis a "bipartisan mess.''


TOPICS: Crime/Corruption; Extended News; Government; News/Current Events; Politics/Elections
KEYWORDS: barney; elections; frank; lenders; obama; palin; remarks
Win the House, start the investigation.


1 posted on 10/14/2010 8:39:57 PM PDT by Libloather
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To: Libloather

But he is a homosexual and if a homosexual runs the economy, there is diversity and if there is diversity, how can the economy fail?


2 posted on 10/14/2010 8:43:47 PM PDT by JimWayne
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To: Libloather
He said he was defending Fannie and Freddie because he was afraid the Bush administration wanted to shut them down.

Which would have helped if it had happened back then.

3 posted on 10/14/2010 8:46:37 PM PDT by Vince Ferrer
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To: Libloather
"If you disagwee with my explanation, you are a homophobe."


4 posted on 10/14/2010 8:47:38 PM PDT by Zuben Elgenubi
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To: Zuben Elgenubi

That is one scary picture!

You don’t know where that finger has been!


5 posted on 10/14/2010 8:49:54 PM PDT by bigbob
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To: Vince Ferrer

You were wrong on both counts, and if someone in the private sector had made a mistake this big, you’d be demanding to see his ass in a prison cell.

But with you it’s supposed to be “oh, look, he admitted he was wrong, let’s send him back to DC for another 30 years.”

Not this time, Barney.


6 posted on 10/14/2010 8:49:54 PM PDT by Steely Tom (Obama goes on long after the thrill of Obama is gone)
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To: Zuben Elgenubi

I’m sorry, but even if I were a homosexual (which I am decidedly not), that is not the face of a man with whom I would want to fornicate. What is with those people anyway?


7 posted on 10/14/2010 8:52:38 PM PDT by hampdenkid
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To: Libloather

“Barney Frank haunted by 2003 remarks on lenders”

Finally!


8 posted on 10/14/2010 8:54:22 PM PDT by RobRoy (The US Today: Revelation 18:4)
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To: Zuben Elgenubi
Pweeze dont fwog marth me fwrom the court uff pubwic opion!


9 posted on 10/14/2010 8:55:45 PM PDT by mylife (The Roar Of The Masses Could Be Farts)
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To: Libloather

Typical politician, talking from both sides of his mouth. When the chips are down and you are backed into a corner, its time to admit you were wrong, and make yourself the victim? he has hopes that those who were for him, will come to his rescue. He won’t change, its time for him to go, but will he??


10 posted on 10/14/2010 8:55:52 PM PDT by Bringbackthedraft (The candidate they smear the most is the one they fear the most.)
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To: Libloather
Here's more video of other democrat misdirection.
11 posted on 10/14/2010 8:59:30 PM PDT by Sgt_Schultze (A half-truth is a complete lie)
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To: bigbob

>>You don’t know where that finger has been!<<

Or that mouth.


12 posted on 10/14/2010 9:02:53 PM PDT by RobRoy (The US Today: Revelation 18:4)
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To: mylife

Fwog marth??? Ooooooh, I’m all earws!!


13 posted on 10/14/2010 9:06:25 PM PDT by Zuben Elgenubi
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To: Zuben Elgenubi

Good lord, Bawney is such a freak.


14 posted on 10/14/2010 9:10:50 PM PDT by mylife (The Roar Of The Masses Could Be Farts)
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To: Libloather

How many counts are you guilty on, Bawney?


15 posted on 10/14/2010 9:18:41 PM PDT by TigersEye (Who crashed the markets on 9/28/08 and why?)
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To: Libloather

Investigate, indict, and prosecute. Barney will love prison.


16 posted on 10/14/2010 9:24:38 PM PDT by ExTexasRedhead (Take back our country on November 2, 2010. Let's Roll!!!)
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To: Steely Tom
if someone in the private sector had made a mistake this big, you’d be demanding to see his ass in a prison cell.

I'll bet he would....

17 posted on 10/14/2010 9:28:20 PM PDT by mwyounce
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To: Libloather
Barney's screw-up with Freddie and Fannie began with Jimmy Carter's Community Reinvestment Act which said that banks must loan money to people who couldn't pay it back. Then Clinton poured gasoline on the fire when Janet Reno said she would start prosecuting banks because they were dragging their feet. Barney probably believed what he said about those two institutions being solvent because he's simply stupid. But when I hear politicians say: “We can't end Freddie and Fannie! Otherwise, how can people who can't afford a home buy one?” Now, it's time to kill the institutions and throw the caretakers out.

Nov. 2...National Take Out The Trash Day.

18 posted on 10/14/2010 9:37:25 PM PDT by econjack (Some people are as dumb as soup.)
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To: Libloather

Lets be accurate. That is NOT what he said.

Here is Barney Frank’s exact quote:

“I was Wong!”


19 posted on 10/14/2010 9:37:25 PM PDT by earlJam
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To: Libloather
Frank said then that the two government enterprises were strong enough to withstand any threats -- and that if they did get into trouble they would not get a government bailout. Sean Bielat, the Republican seeking Frank's seat, has a clip from 2003 on his campaign Web site, "Retire Barney," and Frank has been struggling to explain himself, The Boston Globe reports.

Hey, UPI! We don't need you to describe the quotes - just provide them. Otherwise, like this article, the clear intent is to omit the actual quotes to minimize the damage the actual quotes would do.

There is no excuse for these skimpy articles on the net where space is NOT a premium but (when trying to expose the truth) an asset.

20 posted on 10/14/2010 9:47:00 PM PDT by torchthemummy ("About everything we do around here is government intrusion in people's lives." Ray LaHood)
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To: JimWayne

HOO YAAA!!!


21 posted on 10/14/2010 10:16:07 PM PDT by kennyboy509 (Let us eat cake.)
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To: Libloather

It wasn’t just in 2003 - here he is again in 2004:

http://www.youtube.com/watch?v=_MGT_cSi7Rs


22 posted on 10/14/2010 10:28:42 PM PDT by Republican Wildcat
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To: mylife

Gee Bawarney, at post #9, it looks like something left a bad taste in your mouth!!!!!

What could it have been??


23 posted on 10/14/2010 10:29:20 PM PDT by Noob1999
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To: hampdenkid

You can’t see his face from the homo position.


24 posted on 10/14/2010 11:37:58 PM PDT by abigailsmybaby ( I'm not going to buy my kids an encyclopedia. Let them walk to school like I did. Yogi Berra)
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To: Bringbackthedraft

I’m skeptical. It is Masshole after all. Alas, after getting a Republican post Kennedy I just don’t expect lightening to strike twice.


25 posted on 10/14/2010 11:42:31 PM PDT by abigailsmybaby ( I'm not going to buy my kids an encyclopedia. Let them walk to school like I did. Yogi Berra)
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To: econjack
Frank
26 posted on 10/15/2010 2:17:06 AM PDT by BobP (The piss-stream media - Never to be watched again in my house)
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To: econjack

The other shoe is the fact that Fannie and Freddie were not included in the financial reform package and we are still on the hook for billions of dollars..A great ad would be wrong then wrong now, cost to the tax payers $BILLIONS$


27 posted on 10/15/2010 2:45:09 AM PDT by carcraft (Pray for our Country)
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To: JimWayne
how can the economy fail?If it gets AIDS.
28 posted on 10/15/2010 2:47:41 AM PDT by Right Wing Assault (The Obama magic is <strike>fading</strike>gone.)
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To: Vince Ferrer

“He said he was defending Fannie and Freddie because he was afraid the Bush administration wanted to shut them down.”

“Both President Bill Clinton and his successor, George W. Bush, had pushed Fannie and Freddie to expand acquisition of mortgages to expand home ownership.”

I’m not sure either of these statements are true. While I remember Pres Bush wanting home ownership for many, I also remember various reports in which he and his administration wanted to reform it and warned about the direction it was headed. He and his admin got slammed by the Dims for the warnings.


29 posted on 10/15/2010 4:20:11 AM PDT by Seattle Conservative (God Bless and protect our troops)
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To: carcraft
Exactly. But our politicians don't want to fix those institutions because they can use them to buy votes. That's why Fin-Reg doesn't even mention them...the Dems want to demonize business in general and banks in particular.
30 posted on 10/15/2010 5:59:20 AM PDT by econjack (Some people are as dumb as soup.)
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To: Libloather

31 posted on 10/15/2010 1:22:23 PM PDT by WaterBoard
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