Barney Frank, architect of Dodd-Frank Act, pushes back on Democrats blaming Trump for bank collapses

The Blaze ^ | March 14, 2023 | Chris Enloe

[Twotone]

Democrats, including President Joe Biden and Sen. Elizabeth Warren (D-Mass.), are blaming Donald Trump for the sudden collapse of two banks, Silicon Valley Bank and Signature Bank.

But Barney Frank, a leading sponsor of the Dodd-Frank Act, sharply disagrees.

The law, signed by then-President Barack Obama in 2010, made significant changes to Wall Street regulations and federal financial regulatory agencies in the aftermath of the financial meltdown in 2008. The bill, though controversial, was theoretically designed to protect Americans.

Democrats say Trump is responsible because he signed a law rolling back some of the regulations enacted by the Dodd-Frank Act.

Biden: "During the Obama-Biden administration, we put in place tough requirements ... to make sure the crisis we saw in 2008 would not happen again. Unfortunately, the last administration rolled back some of these requirements." Warren: "In 2018, the big banks won. With support from both parties, President Donald Trump signed a law to roll back critical parts of Dodd-Frank regulations."

It's true that Trump signed that law. But what Biden and Warren failed to mention is that rolling back the regulations had widespread bipartisan support. In fact, 17 Senate Democrats and 33 House Democrats supported the bill, demonstrating that it was hardly a one-sided effort.

[Twotone]

Another tidbit from the article: Frank is no partial analyst. After all, he sat on the board of the New York-based Signature Bank until Sunday when it was shut down.

[Gay State Conservative]

Interesting

[rktman]

That’s a mouthful barnee. Oh, did I say that?

[KobraKai]

Did he say Suffering Succotash ?

[HighSierra5]

Barney Frankfurter sucks! Oh, did I say that?

[ProtectOurFreedom]

Did Bwaney finger himself?

[calljack]

I believe Barney Frank was instrumental in pushing through the banking regulations in the Clinton admin. that directly led to the 2008 banking crisis by forcing banks to lend to unqualified borrowers, so he is no hero here.

[Red Badger]

Barney being frank?..........................

[PGR88]

I can’t remember which hedge-fund manager it was who got rich buying credit default swaps on mortgage securities back in 2008

But I remember him saying: “when I saw Barnie Frank (who was head of the House Financial Services Committee) go on TV and tell Americans that the housing market was absolutely fine, I went and doubled our bet immediately.”

Anything this corrupt homo touches has turned to crap.

[nikos1121]

I think it’s in the Big Short...

[FlingWingFlyer]

Trump is used to it. The Turd Rollers have blamed everything bad that has happened since Adam bit the apple on him. The ignorant, obnoxious and incoherent have believed every one of their accusations against Trump that they’ve seen or heard on their boob tubes. It’s on TV, it must be twue.

[shooter223]

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

[PGR88]

I think it’s in the Big Short...

don't know if that used in the movie, but it was a real person. I want to say it was Kyle Bass, but can't find it again.

[Gay State Conservative]

IIRC it was BillyBob who pushed The Community Reinvestment Act. After it was passed Attorney General Re No announced that any mortgage lender that denied a mortgage to a "person of color" would have the entire weight of the United States Government fall upon it.

They got the message and the result was millions of mortgages in default because the holders were poor credit risks.

So then mortgage lenders went from "redlining" to "predatory lending".

[Sertorius]

https://www.youtube.com/watch?v=Eiu5ZkEK3ro

[llevrok]

Barney has your “six”, Donald (yikes)

[Spok]

There’s nothing they won’t blame on Trump and they certainly don’t need any facts to do so. Democrats believe just saying it makes it gospel.

[SunkenCiv]

• Barney Frank Sat on Board for Collapsed Signature Bank [03/13/2023]
• Warren says $250,000 cap in deposit insurance for banks should be reexamined [03/15/2023]
• Signature Bank de-banked Trump after Jan 6 -- now the regulators have shut them down [03/13/2023]
• Biden And Schumer Took Money From Silicon Valley Bank Affiliates Before Company Imploded [03/15/2023]
• Silicon Valley Bank Ties to California First Partner Jennifer Newsom [03/13/2023]
• REVEALED: Woke Silicon Valley Bank donated over $73 MILLION to Black Lives Matter-related social justice groups before it collapsed - while failed Signature Bank gave $850,000 [03/15/2023]
• San Franciscans line up at board meeting to shout and sing support for reparations plan to give every black resident $5M [03/15/2023]
• Black 'whitesplaining'? DEI dogma prompts legal threats from ideologically disparate legal groups [03/15/2023]
• Ho Wan Kwok, A/K/A "Miles Guo," Arrested For Orchestrating Over $1 Billion Dollar Fraud Conspiracy [03/15/2023]
• Washington Post: 'Hungry Moose Fingered as Possible Factor in Climate Change' [03/15/2023]
• DeSantis to Strip Luxury Miami Hotel Of Its Liquor License For Hosting Sexually Explicit Drag Show with Children in Attendance [03/15/2023]
• Elementary school teacher says confusing kids about gender is 'the goal' [03/15/2023]
• Mike Pence destroys his remaining goodwill among MAGA Republicans: It's hard to say if Pence a useful idiot for the Democrats or if he was an establishment Republican pretending to be a MAGA Republican [03/15/2023]
• UK: Frank Warren tears into Gary Lineker: "We're not Nazi Germany we're Britain!" [03/14/2023]

[Vision]

People need to stop thinking there's a honest intellectual exchange with Democrats in these moments. They only operate out of a playbook to create more power for themselves.


The Left's Core Strategy #1: Lie forcefully knowing the media and the appropriate establishment will support you.

The Left's Core Strategy #2: “Pick the target and polarize it" via Rules for Radicals.

The Left's Core Strategy #3: Scream accusations of racism* (or racist* attacks) at anything you don't like or which slows your agenda. *Sexism, "homophobia", etc. are also opportunities.

The Left's Core Strategy #4: Attack your opposition by projecting your guilt onto them.

The Left's Core Strategy #5: Declare that your destructive actions are creating a positive outcome.

The Left's Core Strategy #6: Attack opposition with shallow insults in an effort to negatively influence the public's view of their character. Think drive-by shooter.

The Left's Core Strategy #7: When all else fails, censor speech and/or deploy violence.

Repeat

[Rural_Michigan]

Surprised he’s still alive