Friday, December 02, 2011

Barney Frank
Thomas DiLorenzo at LRC:
Barney spent the past fifteen years in Congress using the levers of state power to force banks to make trillions of dollars of bad loans to unqualified “sub-prime” borrowers while getting Fannie Mae to “securitize” them to make it appear as a no-risk deal to the banks. This eventually bankrupted Fannie Mae, so Barney and his commie colleagues on the House Financial Services Committee (i.e., Lacy Clay, D-Banksters) championed a zillion-dollar bailout. He then co-sponsored legislation that is sure to strangle the banking system to death, once and for all, with regulation, as a means of diverting attention from the fact that he, more than any other individual, is responsible for the sub-prime mortgage meltdown.

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