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Keyword: frank

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  • Barney Frank Unhappy With Occupy Wall Streeters Who ‘Blame Me For Consequence Of Their Not Voting’

    10/18/2011 6:03:04 AM PDT · by Libloather · 19 replies
    Mediaite ^ | 10/18/11 | Colby Hall
    Barney Frank Unhappy With Occupy Wall Streeters Who ‘Blame Me For Consequence Of Their Not Voting’by Colby Hall | 8:17 am, October 18th, 2011 On Monday night Rachel Maddow explained how the Occupy Wall Street movement defied some traditional party lines, or in her words, protesters “aren’t exactly delighted with Democrats either.” She then introduced Rep. Barney Frank, who shared some frustrations with the protesters, saying “I’m unhappy when people didn’t vote last time blame me for the consequences of their not voting.” Frank echoed the thoughts made last week by former Gov. Ed Rendell who basically asked where were...
  • Frank Rebuts Gingrich Criticism

    10/17/2011 11:56:49 AM PDT · by John Semmens · 14 replies
    In this week’s Republican presidential candidate debate, former House Speaker Newt Gingrich blamed the 2008 financial crisis on “reforms” enacted through the efforts of former chairman of the House Financial Services Committee Barney Frank (D-Mass) and former Senate Banking Chairman Christopher Dodd (D-Conn). Gingrich suggested that the two ought to go to jail for their “crimes.” Representative Frank defended his actions in support of the legislation that compelled banks to lend to untrustworthy borrowers as “well-intended,” and insisted that any blame for any bad outcomes really belongs to former President Bush because “he let me do it. He could’ve vetoed...
  • Barney Frank: The Community Reinvestment Act Was a ‘Republican Failure’

    10/12/2011 10:59:56 PM PDT · by neverdem · 58 replies
    NATIONAL REVIEW ONLINE ^ | October 12, 2011 | Jim Geraghty
    In today’s Wall Street Journal: Asked who was to blame for the 2008 financial crisis and whether any bankers should have been prosecuted, Mrs. Bachmann and former House Speaker Newt Gingrich put the onus on the federal government, with Mr. Gingrich suggesting that former Senate Banking Chairman Chris Dodd and Rep. Barney Frank, former chairman of the House Financial Services Committee, should both be jailed.“It was the federal government that pushed the subprime loans . . . that pushed the community reinvestment act,” said Mrs. Bachmann, citing what she considered the causes of the housing meltdown.Mr. Frank released an emailed...
  • You Won't Believe Who Newt Gingrich Wants To Throw In Jail For The Financial Crisis

    10/12/2011 7:40:25 AM PDT · by SeekAndFind · 85 replies
    Business Insider ^ | 10/12/2011 | Zeke Miller
    Former Speaker of the House Newt Gingrich got worked up when asked about the Occupy Wall Street protests at last night's Bloomberg-Washington Post debate. Gingrich first sought to tie the protests to "left-wing agitators" before calling for the firing of Fed Chairman Ben Bernanke and Treasury Secretary Tim Geithner. He then doubled down, calling on former Sen. Chris Dodd and Rep. Barney Frank to be thrown in jail, not anyone on Wall Street. Asked if he actually meant for them to do prison time, Gingrich said he did, alluding to past ethical scandals. Watch the video below: CLICK ABOVE LINK...
  • Democrats Try to Kill Bank of America Over $5 Fee

    10/05/2011 10:12:05 AM PDT · by Kaslin · 54 replies
    Townhall.com ^ | October 5, 2011 | Mike Shedlock
    Senator Richard Durbin of Illinois is telling Americans to "Get the heck out of that bank", right on the Senate Floor. His comments are in response to Bank of America hiking fees on debit cards. Please consider BofA Customers Urged by Lawmakers to Quit Lender Over Debit Fee Congressional Democrats are pushing customers to quit doing business with Bank of America Corp. and one lawmaker is looking to make it easier for them to do so as the biggest U.S. lender announced plans for new debit-card fees. U.S. Representative Brad Miller, a North Carolina Democrat, introduced a bill today that would...
  • Citi hikes fees on checking accounts (Thank You, Dick Durbin!)

    10/05/2011 10:07:22 AM PDT · by tcrlaf · 12 replies
    CNNMoney ^ | 10-5-11 | Jessica Dickler
    NEW YORK (CNNMoney) -- The fees keep coming. Citi is the latest big bank to slap customers with a round of fee hikes. This time, on its checking accounts. Starting in December, customers who hold its mid-level Citibank Account will be charged $20 a month if they fail to maintain a minimum balance of $15,000 in their combined accounts. Previously, account holders had to carry a minimum balance of $6,000. At the same time, customers who have the bank's EZ Checking account will start being charged $15 a month if they don't carry a minimum balance of $6,000. Citi says...
  • The Durbin Fee : Amendment to Dodd-Frank Will Cost Debit Card Users. Hold on to your wallets.

    10/03/2011 10:04:02 AM PDT · by SeekAndFind · 28 replies
    National Review ^ | 10/03/2011 | The Editors
    Hold on to your wallet: The Durbin Amendment goes into effect Saturday. The once-obscure amendment to the Dodd-Frank financial-reform bill limits “interchange fees,” which banks charge to merchants for providing the service that allows stores to accept debit-card payments. The fees were cut by some 80 percent, which makes it less profitable for banks to offer debit-card services. So the banks have done the natural thing and begun to transfer the fee from merchants to their customers, with Bank of America announcing a new $5-per-month fee for debit-card users. Naturally, the amendment’s author, Sen. Dick Durbin (D., Ill.) is in...
  • Remember the “Durbin Fee” while using your debit cards

    10/03/2011 8:31:10 AM PDT · by Hojczyk · 14 replies
    HotAir ^ | October 3,2011 | Ed Morrissey
    Government imposes new price controls on an industry. Industry raises prices elsewhere to make up for the artificial cap on cost recovery. Government expresses shock, shock at the development. For those of us old enough to remember the 1970s, this seems like deja vu all over again, as Yogi Berra once said. For those either too young or too “dim,” as the Washington Examiner puts it, the surprise should be a learning experience, even for a “dim bulb” like Dick Durbin During the debate over the Dodd-Frank financial reform bill, when Democrats controlled Congress, Durbin insisted on including an amendment...
  • Debit Durbin

    09/30/2011 9:22:41 AM PDT · by WOBBLY BOB · 10 replies
    American Spectator ^ | 9-30-11 | John Berlau
    As I detailed here in February in "Dick Durbin Is Stealing Your Free Checking," thanks to price controls on debit card transactions from the Durbin Amendment of the 2010 Dodd-Frank "financial reform" law, free checking is going the way of the dodo bird. The Durbin price controls on interchange fees -- the so-called "swipe fees" that retailers pay to bank and credit unions that process debit card transactions, go into effect this Saturday, October 1, and are already showing more dire effects than originally predicted. Not only is free checking disappearing at a rapid pace -- a new Bankrate.com survey...
  • Home Depot's Bernie Marcus Calls Dodd-Frank Regulations The "Bonnie & Clyde Bill"

    09/16/2011 7:53:47 AM PDT · by Maelstorm · 18 replies · 1+ views
    http://townhall.com ^ | 9/15/2011 | Greg Hengler
    The Dodd-Frank Act goes on for 2,319 pages. Like Nancy Pelosi's "pass it to find out what's in the O'care Bill" statement, Senator Dodd said, "No one will know until this is actually in place how it works. But we believe we've done something that has been needed for a long time. It took a crisis to bring us to the point where we could actually get this job done." The Wall Street Journal reported on July 14, 2010, just one week before Obama signed Dodd-Frank into law that it will "unleash the biggest wave of new federal financial rule-making...
  • Dodd-Frank Act, Aka The 2010 Full Employment Act For Lawyers, Accountants, And Consultants

    09/16/2011 7:59:41 AM PDT · by Maelstorm · 5 replies
    http://www.dailymarkets.com ^ | September 9, 2011 | By Mark Perry
    “Call it Dodd-Frank Inc. A year after Congress passed the broadest financial overhaul since the Great Depression, the law has spawned a host of new businesses to help Wall Street comply — and capitalize — on the hundreds of new regulations. Besides the lawyers, there are legions of corporate accountants, financial consultants, risk management advisers, turnaround artists and technology vendors all vying for their cut.” “It is a full-employment act,” said Gregory J. Lyons, a partner at Debevoise, where a team of a half-dozen lawyers has drafted 30-plus comment letters in the last six months. “The law is passed, but...
  • Feasting on Paperwork ( Dodd-Frank helps lawyers )

    09/09/2011 9:32:34 AM PDT · by george76 · 1 replies
    New York Times ^ | 9 Sep 2011 | Eric Dash
    The amount billed by Debevoise & Plimpton to write a 17-page letter on a new rule intended to rein in risky banking — around $100,000 — would make most authors jealous. That’s the fee just for parsing the proper definition of a bank-owned hedge fund. Longer and more complex regulatory missives, weighing in on who should be deemed too big to fail or how derivatives are traded, can easily cost twice as much. These comment letters could save Wall Street banks billions of dollars if they help persuade policy makers to adopt a more lenient interpretation of the coming rules....
  • Barney Frank, Czar of His Domain

    08/19/2011 4:41:19 AM PDT · by Kaslin · 30 replies · 1+ views
    Townhall.com ^ | August 19, 2011 | John Ransom
    Barney Frank (D-Fannie Mae) is king of the banking business. He’s got the kind of clout that only money can buy. That’s why he was able to shield mortgage giants Fannie Mae and Freddie Mac during his tenure as Chair of the House Banking Committee. Being a House banking member has always had its rewards. While still a junior member on the House Banking Committee in 1991 he secured a big-time job at Fannie Mae for his then-husband. Or was it his wife? OK, let’s not go there.          But Frank has definitely moved on to bigger things. His new husband...
  • Did Rep. Barney Frank Fart on Live TV?

    08/09/2011 8:16:21 AM PDT · by smokingfrog · 67 replies
    Daily Caller ^ | 9 Aug 2011 | Jeff Poor
    Live television has its drawbacks. A big one is that you never know when an accident might happen. Exhibit “A”: Monday night’s “The Rachel Maddow Show” on MSNBC. While talking to Maddow’s audience about jobs and unemployment, Rep. Barney Frank, the Massachusetts Democrat, might have accidentally let one rip, so to speak. (h/t Bob’s Blitz) You be the judge: Rachel, I think we have to figure out what we do from here and you’re right, we’ve got to get some jobs [... noise …]
  • Did Barney Frank Pass Gas Live on MSNBC? You Decide

    08/09/2011 7:34:31 AM PDT · by rightwingintelligentsia · 54 replies
    The Blaze ^ | August 9, 2011 | Jonathon Seidl
    Gawker may have put it best: “As you’ll see, his hips most definitely don’t lie.” During an appearance on Rachel Maddow’s MSNBC show last night, Dem. Rep. Barney Frank (D-MA) joined to talk about the economy. During that discussion, the almost unmistakeable sound of Frank passing gas could be heard. And the almost unmistakeable sight of him lifting his leg was visible:
  • Did Bawney Fwank fawt on live television? And other potty politics

    08/10/2011 10:29:08 AM PDT · by bilhosty · 28 replies
    Washington compost ^ | 8/10/2011 | Alexandra Petri
    Some would suggest it’s the wisest remark they’ve ever heard a politician make. I always found his speeches strangely carminative. Some would argue that this sort of thing has been going on for a long time. It’s certainly happened at least since the days of satirist Jonathan Swift. He wrote a famous riddle about the posterior, that included the choice lines, “My words are few, but spoke with sense; And yet my speaking gives offence: Or, if to whisper I presume, The company will fly the room.”
  • No more owner financing for real estate.

    07/28/2011 9:52:58 AM PDT · by Bill W was a conservative · 51 replies
    Federal Reserve ^ | 4/19/2011 | The Bolsheviks at the Federal Reserve
    The Federal Reserve Board on Tuesday requested public comment on a proposed rule under Regulation Z that would require creditors to determine a consumer's ability to repay a mortgage before making the loan and would establish minimum mortgage underwriting standards. The revisions to the regulation, which implements the Truth in Lending Act (TILA), are being made pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act. The proposal would apply to ALL CONSUMER MORTGAGES(except home equity lines of credit, timeshare plans, reverse mortgages, or temporary loans).
  • RUSH: Barack OBAMA Has DESTROYED the ECONOMY in Two-and-a-Half Years

    07/15/2011 1:21:29 AM PDT · by Yosemitest · 29 replies
    www.rushlimbaugh.com ^ | July 14, 2011 | Rush Limbaugh
    Barack Obama Has Destroyed the Economy in Two-and-a-Half Years July 14, 2011 BEGIN TRANSCRIPT RUSH: "Boehner: Dealing With the White House 'Has Been Like Dealing With Jell-O' -- In a meeting with a small group of reporters in his Capitol Hill office this morning [he] criticized President Obama and White House officials for their lack of resolve in negotiations. 'Dealing with them the last couple months has been like dealing with Jell-o,' Boehner said. 'Some days it's firmer than others. Sometimes it's like they've left it out over night.' Boehner explained that talks broke down over the weekend because,...
  • Holder Launches Witch Hunt Against Biased Banks

    07/09/2011 7:11:24 AM PDT · by TimSkalaBim · 69 replies
    Investor's Business Daily ^ | 7/8/2011 | Paul Sperry
    In what could be a repeat of the easy-lending cycle that led to the housing crisis, the Justice Department has asked several banks to relax their mortgage underwriting standards and approve loans for minorities with poor credit as part of a new crackdown on alleged discrimination, according to court documents reviewed by IBD. [snip] Another Reno protege, Perez has compared bankers to Klansmen. Only difference is, he said, bankers discriminate "with a smile" and "fine print." He said this kind of racism, though more subtle, is "every bit as destructive as the cross burned in a neighborhood." Perez has put...
  • New York to Lose Place as World's Financial Capital: Bove

    07/01/2011 10:45:15 AM PDT · by george76 · 20 replies
    CNBC ^ | 1 Jul 2011 | Jeff Cox
    New York soon will no longer be the financial capital of the world thanks to a hostile government that has served up a menu of punitive regulations aimed at driving big banks out of the country, says analyst Dick Bove. In his latest broadside against the post-crisis regulatory environment, Bove asserts that a recent spate of layoffs, particularly by Goldman Sachs, is just the latest sign that large financial institutions will have to take their operations overseas. The result, he says, will not be good both for New York and the nation. ... In the current climate, Bove says the...