Barney Frank dereg’d Fannie, then killed reform

 

Frank’s fingerprints are all over the financial fiasco

By Jeff Jacoby

September 28, 2008

Boston Globe

 

 

‘THE PRIVATE SECTOR got us into this mess. The government has to get us out of it.”

That’s Barney Frank’s story, and he’s sticking to it. As the Massachusetts Democrat has explained it in recent days, the current financial crisis is the spawn of the free market run amok, with the political class guilty only of failing to rein the capitalists in.  Barney Frank’s talking points notwithstanding, mortgage lenders didn’t wake up one fine day deciding to junk long-held standards of creditworthiness in order to make ill-advised loans to unqualified borrowers. It would be closer to the truth to say they woke up to find the government twisting their arms and demanding that they do so – or else.  http://www.boston.com/bostonglobe/editorial_opinion/oped/articles/2008/09/28/franks_fingerprints_are_all_over_the_financial_fiasco/

 

 

Lawmaker Accused of Fannie Mae Conflict of Interest

October 03, 2008

By Bill Sammon

WASHINGTON —

Unqualified home buyers were not the only ones who benefitted from Massachusetts Rep. Barney Frank’s efforts to deregulate Fannie Mae throughout the 1990s. So did Frank’s partner, a Fannie Mae executive at the forefront of the agency’s push to relax lending restrictions.

Now that Fannie Mae is at the epicenter of a financial meltdown that threatens the U.S. economy, some are raising new questions about Frank’s relationship with Herb Moses, who was Fannie’s assistant director for product initiatives. Moses worked at the government-sponsored enterprise from 1991 to 1998, while Frank was on the House Banking Committee, which had jurisdiction over Fannie. Both Frank and Moses assured the Wall Street Journal in 1992 that they took pains to avoid any conflicts of interest. Critics, however, remain skeptical.

http://www.foxnews.com/printer_friendly_story/0,3566,432501,00.html

 

 

WHERE WAS SENATOR DODD?

Playing the Blame Game On Fannie and Freddie

By Al Hubbard and Noam Neusner

Friday, September 12, 2008

http://www.washingtonpost.com/wp-dyn/content/article/2008/09/11/AR2008091102841.html

MORE INFORMATION:

https://allanerickson.wordpress.com/2008/09/28/thanks-sen-kerry-for-your-concern-for-the-american-taxpayer/

 

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