Skip to comments.Barney Frank caused the Bush Crash (Fribray)
Posted on 02/17/2017 5:43:01 AM PST by bray
Who shall separate us from the love of Christ? shall tribulation, or distress, or persecution, or famine, or nakedness, or peril, or sword? Nay, in all these things we are more than conquerors through him that loved us. Romans 8:35,37 KJV
All the outrage over Bernie Madeoff is pretty surprising. Sure he bilked people out of everything they had, putting them in financial disaster and bankruptcy? So he lied to people over decades taking everything they saved in a fraudulent investment Ponzi scheme bankrupting Pension/Charity and College funds. So he was lying to investigators about those cooked books while living a decadent lifestyle. So what if people have lost jobs, widows are out on the street while he was living the high life on other peoples money, but enough about Barney Frank.
Why are we not using a Wall Street genius like Bernie Madeoff? He should be in congress perhaps Chairman of the Social Insecurity Scheme or the Banking committee. With his talents of running Ponzies he shouldnt be in a 6x8 with two hots and a cot, lets put him with his kind in the District of Corruption.
Bernie Madeoff is a talented Flim Flam artist who promised massive returns to steal millions and millions of dollars. He preyed on peoples trust and in the beginning became a star on Wall Street making people money and showing an unusual ability to manage large investment funds. At some point he became a Democrook and learned to lie with conviction. That is when he started his Ponzi scheme which he would take millions and used those incoming funds to pay out dividends to maintain the facade showing big returns. When the markets turned, the investors started trying to withdraw their accounts and the collapse began. These people knew they were making large returns and risk was a factor, it is just they had no idea they would lose everything.
Barney Frank likewise, has made a career of using his homosexuality as an enhancement to get elected in liberal Boston to abuse his position in gummit. He has made a career of corrupting the system and then playing the victim, get out of jail free card whenever he needed to have the press or law enforcement to back off.
His first run-in was with a young homosexual prostitute that he shared his house while paying him a $30,000 salary for services rendered or reddened as the case may be. The boy ran a prostitute ring and was pimping out of Bawneys townhouse when they found many of these boys were under eighteen Bawney played the gay card walking away unscathed. None of the sexually assaulted boys would testify against Bawney considering who was likely using their services. You can only imagine how completely destroyed their lives are thanks to Congressman Frank.
The next encounter was with Herb Moses who was a homosexual executive in Fannie Mae, which got Fwanks all exthited. Moses shacked up with Bawney for around 10 yrs in the ninetys. They had a gay ol time as a gay couple while Bawney claiming to be his ugly wife. Moses developed the low cost home lending programs allowing people who could not buy a house to get 100% loans, leading to this mortgage crisis. By the time these two lovers split the sheets they had set a time bomb in the financial system ticking away waiting for a trigger. Apparently, they split the sheets after Herb called him a Haranguing Harelip. Bawney sat on the banking committee and was the primary person to hide this nuclear bomb until it exploded.
Just like Madeoff, whenever anybody would get close to exposing their Ponzi scheme Bawney would pull strings to shut down any investigations. He would obstruct with his Dem colleagues to stop all investigations from happening. Fannie Mae became a slush fund for DNC campaign contributions so no reforms. Execs were taking hundreds of millions off F/M. President Bush begged congress investigate and regulate Fannie around ten times only to be stopped by Frank and the Black Caucus as racist for trying to allow banks to underwrite loans. How is regulating a Corporation racism except when you have nobody watching the bank except crooked cops. When McCain brought a whistleblower exposing cooked books he was given the same treatment and even Clinton was stopped when he wanted Fannie tightened. The biggest crook in congress for the Fannie meltdown and market crash of course was ol Bawny.
Why is Madeoff sitting in a jail for bilking a few hundred people out of their life savings while Bawney is still pointing fingers at the banking industry? He not only bilked a few hundred, he destroyed the life savings of millions of people perhaps billions worldwide. He wiped out retirement plans across the Country and has cost millions of jobs that could not be saved. His Ponzi scheme worked just fine as long as people were buying houses and making their mortgage payments, then when gas and food prices skyrocketed the mortgage payments ceased, the trigger was pulled and a mushroom cloud appeared over America.
Madeoffs talents cannot be found just anywhere, the Demcorrupt Party can use people like Bernie. They could use his expertise in Ponzis like Social InSecurity or Medicare as well as KennedyCare or even the Porkulus Bills, after all the gummit is a giant Ponzi scheme. Why pay for a jail cell when our gummit can use his expertise. Oh wait, we already have Fwank who is a two bit Organ Grinder monkey compared to Madeoff. Can we make a trade?
This WMD was planted by two degenerates who cared more about their own selfish needs than the financial health of America. Moses made Millions off Fannie and Bawney received campaign bribes and favors to live like a Queen. They were going to force banks to lend money with no chance of ever coming back using FM/taxpayers as an insurance policy. It later became obvious FM was corrupt and after Enron, needed to be cleaned.
Fwank stood in the way of a cleaning which would have stopped this disaster from happening. He knew that his DNA would have been all over the corruption so he abused his power to hide the fraud. He knew there was nothing backing the assets and when the people who owned the paper found out the entire Banking/Financial Industry would come down like the Twin Towers and when it did he pointed at Wall St and Bush avoiding the blame. This ignited a wildfire that has torched the entire World thanks to Frank.
Mr & Mrs Moses were the ones who lit the fuse a decade ago and Bawney hid it until it went off last Sept. If Madeoff is spending the rest of his life for a sixty Billion fraud while is Bawney walking around after his ten Trillion dollar Ponzi? Of course Bawney Fwank wont be questioned since he is the Ethical Standard Bearer for the DNC and a victim class saint. Bernie is sitting in jail while Barney is hailed as a working class protector and Bush gets the blame.
Pray for America and Our Troops
Either black or gay they were given a get out of jail free card to abuse thier positions in any and all walks of life. Those who opposed would be brandished a homophobe or a racist.
Absolutely correct, but the dems somehow overlook this and blame Bush.
Yup,Barney Fag,Reno’s warning to mortgage lenders not to deny loans to minorities and “liar loans” were what did it.
I wish this was an article that resembled the headline.
“Yup,Barney Fag,Renos warning to mortgage lenders not to deny loans to minorities and liar loans were what did it.”
I personally witnessed the effect of the CRA inflating housing prices in the hood areas. Contractors and investors were snapping up run down foreclosures for next to nothing, and rehabbing with new paint/floor covers/kitchen/baths then flipping them and doubling their total investment.
These houses were being sold to credit risk borrowers with payments that took two low wage incomes to make. when one person lost their job the house payments went into the tank.
The investors made their money and after a year or two had enough to move into higher income neighborhoods and repeat the process, driving prices up further.
Meanwhile, builders started producing the cheapest big box houses with chinese drywall and selling them exclusively to minorities these lending programs favored.
Enter the mortgage back securities which contained hundreds of thousands if not millions of these inflated value homes occupied by credit risk borrowers who soon could not make payments and the whole house of cards came tumbling down.
Barney Frank’s fault—yes indeed.
he (Barney FWANK” knew there was nothing backing the assets and when the people who owned the paper found out the entire Banking/Financial Industry would come down like the Twin Towers and when it did he pointed at Wall St and Bush avoiding the blame. This ignited a wildfire that has torched the entire World thanks to Frank.
The breakdown of the causes of the housing crises generally credited as the cause of the crash in this sector in 2008 is detailed in a video on youtube
What should it have been?
The gay part and Madoff are both over played. And specifics about the lobbyists, DNC and even RNC payoffs, politicians and friends of politicians getting high paying jobs at the GSEs, are all under played or under sourced.
Your title is right, its just not backed up and explained well. Youtube as a great finance committee video which shows Barney and Waters defending the GSEs while the Bush administration were trying to reign them in a year before they went bankrupt.
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An expected outcome when rimmers, gerbilers, same sex child rapists, and coprophiliacs are put in charge of anything.
the fake indian was also wallowing in this opportunity..
I don’t think there’s any doubt that Frank and the Democrats put us on the road to a big crash. Look, I despise what the Democrats did. My only beef with the Republicans was them not implementing corrective measures when they were in the majority.
All of it could have been avoided if our side had acted when they had the opportunity.
Instead, they allowed things to melt down to the point our nation, Capitalism, and our way of life were on the line.
We cannot dismiss Republican culpability in all that took place.
The Democrats were idiots. The Republicans knew better, and did nothing.
Bush was no defence at all against the evil of the Left, with regard to this issue.
Obama was the byproduct.
Well, we knew this in 2008 - but the Enemy of our State politicians and their lap-dog media wouldn’t cover it- and the sheeple were too busy watching ‘dancing” and ‘survivor” to bother -
Perhaps Frank knew that the banking system had a fatal flaw that set the entire system up for a nuclear reaction with the right trigger. It was the old Bucket Shop format that had been reinstituted when Bill Clinton signed the GrammLeachBliley Act (GLBA) in 1992. This repealed the GlassSteagall Act of 1933 which forbade affiliations between banks and securities firms. It showed the corruption of the Swamp and the monster that would emerge would make Godzilla look like a play doll. Frank knew that the conditions were set for the next step, allowing banks to underwrite loans.
Did the Democrats pull the trigger to cause the banking collapse, knowing that this would destroy the Republicans for years to come? It is not coincidental that it happened just before the elections. The investigations into this sabotage went no where because the Democrats got into power and held back any attempts to dig into their sedition.
Chuck Schumer pulled the trigger.
yes, but what was the threat that we had to fork over billions to the banks?....where did TARP go?.....no one seems to want to tell us...
rats in power know exactly what they are doing and they do it regardless of what they know will probably happen...
they saw immediate vast financial gain for themselves and their fellow rats....
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