Posted on 02/16/2013 8:27:39 AM PST by DogByte6RER
Bartiromo Takes Frank to Task Over Lack of ’08 Financial Crisis Prosecutions
• Frank: 'Individuals' should be prosecuted on Wall Street, will not say who
Former Massachusetts Congressman Barney Frank (D., Mass.) advocated criminal prosecutions against “individuals” involved in the 2008 financial crisis and the subsequent collapse on Wall Street Friday on CNBC.
Maria Bartiromo reacted incredulously to Frank’s refusal to name specific individuals who may have perpetrated criminal wrongdoing, accusing the former Congressman of playing populist politics by making specious allegations against the financial industry.
Frank attempted to deflect the criticism by stating as Chair of House Financial Services Committee he had no authority to prosecute and therefore could not make specific allegations about past criminal activity he alleges was committed by certain “individuals:”
MARIA BARTIROMO: All I want to do is see the evidence. This is a democracy and America, right? So let’s look at the evidence. Just show it to me.
BARNEY FRANK: That’s what I’m telling you to do. I’m saying to you –
MARIA BARTIROMO: But you were in charge, you could have done that! Did you find any evidence?
BARNEY FRANK: I’m sorry, you don’t understand this situation very well.
MARIA BARTIROMO: You were the head of the Banking Committee. I want to know what kind of evidence you saw in terms of actual evidence of criminality.
BARNEY FRANK: I’m explaining to you in the first place the committee I chaired had had no jurisdiction over criminal proceedings. That’s the Judiciary Committee. Secondly, we were focused on trying to deal with the crisis at first, at the request of the Bush Administration, and then to have new rules going forward. The committee I chaired did not have jurisdiction over past criminal behavior. Our jurisdiction was over trying to move things forward and that’s what I did. I am giving you examples, and you say it’s a democracy – I agree. That’s why you do not name names the way you are irresponsibly doing or trying to get me [to do].
Barney Frank should be occupying a prison cell for the remainder of his retirement. Unfortunately, he would probably find the experience comparable to a gay Club Med vacation.
Congress critters signed off on the Community Reinvestment Act that created this mess. Damn them !
bawnwy fwank and chris dood should be doing time for what they did to promote the housing “crisis”. I’m sure their buddies at countrywide paid them a lot of money for it.
Womens prison for Baaany
LOL...that’s the best chuckle I had in days...
After I learned of this, I remember thinking ... "Carter was setting himself up for post presidency by inventing the failed (IMO) Habitat For Humanity program."{
Actually, pretty brilliant;
Set up a way for unqualified people to get loans and then make them build their own home AND pay the loan back.
Pretty slick
http://www.youtube.com/watch?v=wcLB6arGFDc
Bawney Fwank is a Democrat, he never has to take responsibility for anything.
Bump Barney into a hangman’s noose.
All you have to do is compare that POS to former NYPD commissioner Bernard Kerik. Kerik, a vet and one of the most decorated cops in NYPD history, is doing 4 years in jail for doing a fraction of what any of these ‘rats ever did. The double standard in this country is astounding.
"Even though she had no previous training nor experience in finance, Gorelick was appointed Vice Chairman of Federal National Mortgage Association (Fannie Mae) from 1997 to 2003. She served alongside former Clinton Administration official Franklin Raines. During that period, Fannie Mae developed a $10 billion accounting scandal.
On March 25, 2002, Business Week interviewed Gorelick about the health of Fannie Mae. Gorelick is quoted as saying, "We believe we are managed safely. We are very pleased that Moody's gave us an A-minus in the area of bank financial strength – without a reference to the government in any way. Fannie Mae is among the handful of top-quality institutions." One year later, Government Regulators "accused Fannie Mae of improper accounting to the tune of $9 billion in unrecorded losses".
In an additional scandal concerning falsified financial transactions that helped the company meet earnings targets for 1998, a "manipulation" that triggered multimillion-dollar bonuses for top executives,Gorelick received $779,625.
Investigation by the OFHEO detailed in their official report on the accounting scandal in 2006 on page 66 that from 1998 to 2002 Gorelick received a total of $26,466,834.00 in income."
Unfortunately, there are people out there who have the public spotlight, such as the guy who did the screenwriting for the Lincoln movie, who go a long way to perpetrate that it was the evil Bush that did this to America, and that Obama is just trying his best to fix it. Reality is, the democrats played tight out of their rule book; create a crisis, get your face on national tv as much as possible and let the people who get the news from TMZ and MTV know that since Bush was in charge, he must be to blame. Throw in a complicit media and your agents in the entertainment industry, and you have the recipe for wrong becoming right.
You have to hand it to them, they now know who their target audience is, and they are going to play to them.
Just ask any of the so called “low information” voters what the Community Reinvestment Act or Dodd-Frank is, and you’ll get the stupidest, most ill informed answers you could possibly think of. Ask them who is responsible for the state of the economy, and you’ll get one answer: Bush.
Reality is that the Dems are as bought by Wall St as the GOP....so no one is going to be prosecuted. Both parties are brain dead Free Trader Communist Globalist....and they ain’t cutting their umbilical cord
Barney is impervious to Miss Bartiromo’s charms.
Maria is one talking head I LIKE.
In hindsight, always 20/20, it is less than amusing that the Obama Administration and New York State are both looking at Moodys (and S&P) for fraudulent collusion with Wall Street in their ratings of investment and debt issues leading up to 2007/8 debacle!
Query to the perplexed, after 4+ years of the Obama Administration and Obama's never ceasing 'War on the Rich' and anti-Wall Street attacks, how many of the Wall Street movers and shakers from this time period have been even accused, let alone prosecuted?
... crickets ...
ping!
I agree with you on MB.
She’s at least willing to take an objective look at things.
BF is an Alinksy/Trotsky-ite who long ago perfected the Alinsky-ite practice of demeaning your opponent(especially if you know they are speaking the truth about a topic)to the point of marginalizing them into silence.
Similar to what sports players call trash-talk, Alinsky tactics are used to confuse/anger your opponent in order to throw them off their game.
One way to deal with fecal matter like BF is to just continue to speak truth to power, demand facts to force your opponent to back up his/her/it's position...while at the same time(when Alinsky tactics are attempted)telling him to shove his Alinsky crap up his favorite cavity.
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