Skip to comments.Frank and Gingrich keep sparring over who’s to blame for the subprime mortgage crisis
Posted on 11/17/2011 6:08:46 PM PST by bkopto
A war of words between US Representative Barney Frank and Republican presidential candidate Newt Gingrich reached new heights today after a report that the former Speaker of the House earned at least $1.5 million in consulting fees from mortgage giant Freddie Mac.
It all started in October, when Gingrich during a GOP debate suggested that Frank should be imprisoned for his role in the subprime mortgage crisis. If you want to put people in jail ... you ought to start with Barney Frank and Chris Dodd, he said, referring to the Newton Democrat and the US senator from Connecticut. Then, following a report by Bloomberg News about Gingrichs consulting fees from the mortgage agency, Frank today denounced Gingrich as fundamentally intellectually dishonest.
Hes a man with no ethical core whatsoever, Frank said of Gingrich in an interview with the Globe. There are a number of conservatives whom I respect
Newts just never had any principles, so no Im not surprised about this at all.
(Excerpt) Read more at boston.com ...
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Hotbottom did it.
The Mass-of-two-sh@ts continues to re-elect this D-bag. Incredible!
As long as this story is out there, more people know about Frank’s malfeasance. His responses show he’s getting nervous.
Who can forget Sen. Chuck "You better get your money out of WaMu, it's going bust" Schumer?
Hes a man with no ethical core whatsoever, <<<
“Hotbottom” has spoken!....lol
if he had advertised as “Horny Heterosexual” he would have been impeached from Congress!....Think about it!
i’d love to see frank and dodd in jail.
Barney Frank talking ethics???.. ethics???...
He might getting ethics lessons from Charlie Rangle..
I’m not sure Frank can even pronounce the word “ethics” correctly..
Entering into a conversation with a democrat..
Is like falling down a bunny hole.. Barney looks increasing like the Mad Hatter..
There is a divine intervention here though in that Bawney Fwank can’t pass on his genes...
Wonder how long it will take all the Newt Bashers to jump in and side with Barney.
Oh yes, we should believe Barney.
...after a report that the former Speaker of the House earned at least $1.5 million in consulting fees from mortgage giant Freddie Mac.
Now that is a debate I would like to see, frank trying to pull a hissy fit while debating Newt.
I don't think I can take much more of this.
Exccuuuuuze me, but I THINK something is a little wrong historically here with this article.
“The government created Freddie Mac in 1970, joining it with Fannie Mae, in an effort to make mortgages more affordable. Their troubles began in the 1990s as both took on risky loans and more debt at the urging of the Clinton and Bush administrations, which sought to increase home ownership.”\\
I’m just an old guy with a really bad memory. But I THINK Fanny and Freddie were created in THE FREAKIN 1930’S BY FDR. I read their home pages, and that’s what they say.
If I’m wrong, please someone correct me. Flame me all you want, but I do think those ‘quazi governmental’ entities waaay predate the ‘70s!!
So much bulls**t, so little time to correct.
Hoping that some other Freeper who is sane and sober can check this out.
That queer should be hung by his balls for his role in Fannie and Freddy. Ditto Chris Dodd!
Fanny and Freddie even! ;-)
If you want to put people in jail ... you ought to start with Barney Frank and Chris Dodd,
This kind of story will do nothing but help Newt.
Thank you Boston Globe.
He's proven to be a Moderate, siding with the DEMS on everything from healthcare mandates, global warming, using his position in Congress to fund raise for his college of choice, redefining the definition of sex ala Bill Cliton and generally using people to advance his personal agenda.
In November of 2010 we sent a group of young, dedicated conservatives to DC and now we want to let The Fox back in the hen house?
I don't get it!
I double dog dare them to.
Typical RAT projection.
Hotbottom is how they refer to him in Boston.
“I don’t get it! “
You never will.
It really sucks that this massive fee ever had to come to light. I know a large GOP ad house which was planning a major push next year focusing on Frank and Dodd and Fannie and Freddie, which was devastating. They are pissed now that Newt’s involvement will muddy the issue beyond repair as one of our strongest points against the RATs and Obama.
Isn’t that one of Moochelle’s outfits??
I'd like them to be in jail. Butt I don't want to SEE them in jail.
But hey, to each his own.
Me. Im the husband.
The original Federal National Mortgage Association (Fannie Mae) was created in 1938 under FDR and split in 1968 into the Government National Mortgage Association (Ginnie Mae), which is a U.S. government agency, and the current public-private GSE.
As for the Federal Home Loan Mortgage Corporation (Freddie Mac), it was chartered in 1970 under an Act of Congress.
” The Bloomberg story reported that Gingrich earned $1.6 million to $1.8 million between 1999 to 2007.”
$1.8 Million divided by 9 years equals $200,000 per year. Nancy Pelosi makes that in 3 days of insider trading. Where is the Gingrich corruption?
Great advice to Freddy Newt. Got out just in time didn’t you?
Great advice re: who to support in the 23rd CD Newt
Are you giving advice re: climate change to the Princess of the Assembly, Newt?
Go to hell.
There’s no contest. Barney Frank and the Democrats set up Fannie and Freddie in such a way that the problems would be compounded, but whoever was running the agency at the time would make out like a bandit; think Franklin Raines. Newt got paid for the work he did, which according to the written contract, did NOT include lobbying. So Newt is not part of the Fannie and Freddie problem; that lies with Barney and his fellow Democrats, and the RINOs who enabled them to pass legislation creating the problem.
I think Newt’s personal, political and, er, “business” life can be summed up by his primary motivation to be admired, and thus his willingness to say anything and play up to anyone at any time who will stroke and feed his inflated ego (and bank account).
Trouble is, it’s near impossible to pander to 100% of the people any percent of the time, and thus his steady infidelity to whatever and whomever he’s just committed to.
“That queer should be hung by his balls for his role in Fannie and Freddy. Ditto Chris Dodd!”
That probably wouldn’t work. I’m sure Dodd had Bawney spayed a long time ago.
Wasn’t it because he was losing his Speakership? (I think he was cleared of whatever charges at the time.)
“That probably wouldnt work. Im sure Dodd had Bawney spayed a long time ago.”
LOL! Yep...you’re probably right! :-D
Fannie and Freddie came out of the Community Reinvestment Act, in the Carter Administration. I was doing mortgages for a Federal S&L, and all of our paperwork was changed in 1977 to reflect the Federal agencies. In order to sell the mortgages on the Secondary market, they had to be Fannie/Freddie certified, and on F/F paperwork.
I think Jamie Gorelick was in there up to her eyeballs.
Same old. Same old. Newt's personal lack of any ethical or moral core undermines any intellectual argument he may be making. His love for the sound of his own voice blinds him to how incredibly unlikable his pomposity is. He can't control his appetites. That's why he's fat and gooey, and why he would accept money from Freddie Mac for no work.
Something about being exposed as a total jerk, fool and fraud by carrying on an extra-marital affair around the 1998 time frame, maybe?
Who know where those mouths have been?
Who is responsible?
1.) Liberals of all stripes
2.) Jim Johnson
3.) Barney Frank
4.) Conservatives like Gingrich who got on speaking podiums in the 90’s with the likes of Jim Johnson to talk about how great it was for Fannie Mae to help all Americans attain “the American Dream of Home Ownership”.
“I am the Banking Queen...”
Frank is just so repulsive. This article was interesting because it shows any sort of criticism gets under his very thin skin. He has skated on the unbelievable damage he’s done to this country because his constituents and his party don’t care because he ‘helped the pooooor,’ but I hold the Republicans to blame for not addressing the damage he’s caused.
The Financial Crisis was caused by too much government regulation, not too little.
Hot bottom was being serviced by his Boyfriend who worked at freddie mac at the time this was all happening