You gotta love the left in this country. Barney Frank is being heralded as some kind of great hero today after dressing down some dingbat at a townhall meeting who invoked Hitler.
Yay! I wonder how many times he rehearsed that line in front of a mirror, just hoping he’d be able to uncork it on some unsuspecting right wing mob-member.
Most interesting, of course, is the sudden outpouring of support this piece of something is receiving. Apparently everyone forgot the damage he did to the economy.
it didn’t take a financial whiz to recognize that a day of reckoning would come. “What does it mean when Boston banks start making many more loans to minorities?” I asked in this space in 1995. “Most likely, that they are knowingly approving risky loans in order to get the feds and the activists off their backs . . . When the coming wave of foreclosures rolls through the inner city, which of today’s self-congratulating bankers, politicians, and regulators plans to take the credit?”
Frank doesn’t. But his fingerprints are all over this fiasco. Time and time again, Frank insisted that Fannie Mae and Freddie Mac were in good shape. Five years ago, for example, when the Bush administration proposed much tighter regulation of the two companies, Frank was adamant that “these two entities, Fannie Mae and Freddie Mac, are not facing any kind of financial crisis.” When the White House warned of “systemic risk for our financial system” unless the mortgage giants were curbed, Frank complained that the administration was more concerned about financial safety than about housing.
Now that the bubble has burst and the “systemic risk” is apparent to all, Frank blithely declares: “The private sector got us into this mess.” Well, give the congressman points for gall. Wall Street and private lenders have plenty to answer for, but it was Washington and the political class that derailed this train. If Frank is looking for a culprit to blame, he can find one suspect in the nearest mirror.
Yep. Barney Frank. Man of the people. Hero to the left.
I guess it’s okay to lionize an idiot because we’re not talking about the economy lately. That’s fixed.