For someone trying to regulate Freedie/Fannie it's funny Bush got 440 Billion for minority loan purchase commits from Freedie/Fannie in 2002 for his Goal of 5.5 Million minorities by 2010.....don't believe me , believe your own EYES
watch?v=kNqQx7sjoS8
This video is Bush in His own words start about 4:00 minute mark or watch the whole video.
interesting how so many people are ignorant of the important fact of Clinton's signing of a repeal of the Glass Steagall Act before he left office; wiki it, it was an important protection against the creation of dangerous financial instruments. yeah, sadly even Bush and his gang just let it slide rather than pushing to get it reinstated.
Senator Obama did not weigh in on that bill.......that says it all. These demorat bastards should all be charged with treason because they all knew what was going to happen. Weaken the sysyem, manage the decline, take political cover, and redistribute wealth as much as you can as long as you can before the fall. Throw George Soros out of office in 2012.
The truth is Republicans hate when poor people get a leg up and that is what was behind their fear of the bubble. If anyone simply had the foresight to regulate both mortgage backed securities (look 'em up) AND sub-prime penalty practices, we wouldn't be where we are today.
@thraknik Your response here is contradictory. You accuse the GOP of hating people. Yet you say that mortgage-backed securities, including sub-prime should have been regulated. As is pointed out in the video, that's exactly what the GOP tried to do a number of times, by regulating the GSE's . But the left refused. So into the tank the economy went, & we've bailed out all manner of stuff, including BILLIONS to Fannie/Freddie while their CEO's made hundreds of millions (Raines, et al).
Barney reminds of a fat gay Fred Flintstone with a lisp. Voters need to retire him Im sure he already has a retirement beach house in Thailand with several 14 year old house boys! Retire this Fat Spend and Tax Bum!
Google "Barney Frank takes us for a ride" animation
have you had a chance to look at this animation yet? a 14-year-old's animation with humor and clarity explains the crash of 2008 in 60 seconds!!!!!!!!
for a quick, 60-second informative and funny tour of why Mr. Barney Frank is in trouble electorally, take a look at (by googling these words:) "Barney Frank takes us for a ride"
Great video which tells the TRUTH about much of what led us into the financial crisis. It actually began with Carter's CRA, which the left continues to admire and push to this day! Barney Flank, Dodd, Reid, Pelosi, et al ad nauseum continue to insist that "everyone has a RIGHT to own a home"...regardless of whether people can afford to buy a home! Duh! Now, our national government has spent a TRILLION $ for "stimulus" which has miserably failed! Duh!
@FmrUSMCRnTX A crappy $100K house costs about 1k per month. A crappy apartment, about the same. Your affordability argument doesn't work. As for the trillions in stimulus, it's way better than trillions spent on war. Or corporate profits for health care insurers. Or the monies companies like Exxon and GE don't pay in US taxes. Duh, to you.
@thraknik So, it appears that you'd do away w/free market principles as well as national defense. You'd rather have the national government just take over everything and to use your idolic messiah's own words "spread the wealth around". In other words, move the USA from the principles & practices that made it the greatest nation in world history and move to socialism! And we see just how well that's worked over the course of the last 100 years around the world, haven't we?
As soon as I seen Fox News, I knew it was bull shit, its that simple folks, don't be a chump, don't be a bad American, know your enemies. You Fix Noise ditto heads phuck you
A new financial reform bill titled "Inclusion of Minorities and Women; Diversity in Agency Workforce" requires each federal financial agency, the Fed Board of Governors and the 12 regional Fed banks to "establish an Office of Minority and Women Inclusion" with the purpose of ordering regulators to allocate credit by race and gender.
''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.''
1998 JANET RENO "The new Community Reinvestment Act regulations enable lenders to develop customized strategic plans for meeting their obligations under the Act, and many have been developed in partnership with your local organizations. In this way you are not only helping to rebuild your communities, but you are showing bankers how to be responsible corporate citizens. In short, you can't do it just with capital, you can't do it just with people who care"
@MaDmOnkyKungFu Bill Clinton put Janet Reno and the Justice dept in charge of enforcing the Community Reinvestment Act and politicized the Financial indistry. Its still in progress Obama wants FHA to guy more toxic mortgages so we can have more future bail outs.
lol! Its people like you who believe anything the media and politicians tell you.If you tell someone a lie 15 plus times they will believe anything.Research for yourself what started the housing crash.And who tried to stop it.Bush actually tried to regulate the market as well as Mc.Cain.Even thou I can't stand both of them.Dues to their liberal stance on Immigration
Time to unwind this mess. I do not know if the USA can realistically escape the "socialist" title anymore. Let see, we prop up Amtrak, USPS, Many Airlines, Fan- Fred to name a few. Then we have a ponzi scheme name Social Security. Medicare and Medicaid are two programs that have huge future obligations they cannot meet, oh I guess they can by printing more debt. Am I supposed to consider this a serious country? Oh, let's not forget the constant globetrotting missions the military is always on.
Barney Frank took over Fannie Mae, stock dropped 90 %, Epic dem fail. Liberals need to shut their fuckin mouths because they are wrong. Barney Frank is a failure as a de facto CEO. Liberal politicians cannot run a business anywhere but into the ground.
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Another interesting attempt by fox news to rewrite history cast as news. If only we had listened to the republicans and George Bush none of the real estate and financial meltdown would have happened! There was a lot more to it than Freddie and Fannie. There were a lot of complex unregulated financial instruments and good old American greed all around that had roots clear back in the Reagan administration.
@1netvoice - Man go drink some more of that spiked kool-aid, you're drunk as a dog! You can place the facts and the people spewing it right in front of these fools faces and they still deny. Just like Yuri Bezmenov said, they are brainwashed beyond repair. Eat it comrade, the gig is up!
In response to the idiocy of DestructerX.... House and Senate Republicans brought attention to the shady practices of Fannie and Freddie numerous times, including introducing into the House HR 2803 Housing Finance Regulatory Restructuring Act of 2003. The bill was filibustered by the Democrats along party lines. It was then sent to the House Financial Services Committee where Barney Frank killed it. Learn your history, until then keep your mouth shut. Once again, Democrats guilty as charged.
@WhereIsCommonSense Fannie and Freddie did not cause the subprime meltdown. They did not write subprime loans.
The meltdown was caused by the deregulation of Reagan and Clinton combined with a total lack of willingness on the part of the Federal Reserve and the Bush administration appointees to curb the CDO craze during the Bush years.
Fannie and Freddie did not cause the subprime meltdown. They did not write subprime loans. They did purchase CDO's, bundled mortgages written by other banks. They were ordered to do so by George Bush in 2004.
The meltdown was caused by the deregulation of Reagan and Clinton combined with a total lack of willingness on the part of the Federal Reserve and the Bush administration appointees to curb the subprime and CDO craze during the Bush years.
@WhereIsCommonSense Too bad they didn't look at the much shadier practices of AIG, Wall Street, and sub-prime lenders. That would have been much more helpful, although that would mean a missed opportunity to demonize the poor.
@thraknik Those "shady practices" of Wall Street were championed by the Democrats in the House. Barney Frank liked the idea of derivatives so much he instructed Fannie and Freddie to purchase billions of dollars in derivatives from the banks on Wall Street to open up more capital so he can "regulate" those banks into making even more dangerous loans. Taxpayers will be paying the bill for Barney's "regulations" for quite some time. The toll was pretty hefty.
Becaause the majority that you speak of was a mere 2 Senators and less than a dozen in the House. When you go against a block that the DEMS had in the amounts they had, nothing gets done. I thought that might be clearly evident when the DEMS had SUPER majorities in both the House and Senate, yet STILL had problems passing the HC Bill. I guess you dont know how it works in DC...
@kkirves it was the repubs that brought attention to the problem way back then! so why do they get credit for this subprime melt down? obama was pusshing those insane loans all along and now he says its bushes fault? what a liar
@DestructerX , because the had crooks like Barney Frank fighting against intervention! It even says "the legislation was blocked" in the video! Who do you think blocked it? Barney Frank and his cohorts!
One party can't get legislation through both houses of congress by itself, unless it had veto-proof majorities in both houses. Unlike the current situation with the Democrats, they are completely unchecked (except now Kennedy is gone). But we have to trust these Libs, I mean, they know all the words to the song Kumbaya.
Please help support the federal reserve transparency act! Our representatives have the right and responsibility to audit the federal reserve!
Barney's not on same page as Obama, Barney wants a secretive non transparent non accountable FED! Listen to his statements carefully, he doesn't support a FED audit (true transparency), only makes it sound like he does!
I can't believe that people can still defend Barney Frank. He is directly responsible (among others) for the economic crisis, and yet people still go on defending that lying douchebag. There are enough vids on YouTube proving what a liar Frank is. It astounds me that people just refuse to acknowledge that the Democrats played a monumental role in ignoring the warnings and letting the bubble burst. Now all Americans get to pay for it. Lucky, lucky!
Bottom line...Bush Administration did NOTHING to stop the push to increase homeownership. They actually were bragging up the fact that the homeownership rate was going up (to about 69% a few years ago) and trying to take political credit for it.
Better look at the time line Bush Admin. brought it up in 2001, 2003, 2005, and in 2006 and 2007 but Barney Frank and the Democrats would do nothing. It is all documented on youtube just look it up.
But Republicans had the White House for 8 years and both houses of Congress for most of that period. Bush never appointed anyone at Treasury or at the banking agencies who was serious about dismantling Fannie and Freddie (or HUD, FHA, CRA). I despise Barney Frank as much as anyone else, but you can't blame him for anything before 2007 as he only then ascended to head the financial services committee.
While you do have a point libertyrepub, it doesn't deny the fact that the Democrats were totally responsible for the mortgage disaster that caused the economy to collapse. Bush unfortunately, didn't do enough sadly because he didn't want to look like a racist, in my opinion. Same goes for McLame. They were both right on when they wanted more oversight on fannie & freddie. Neither had a set of iron balls & Bush didn't use the bully pulpit and bully these MORONS to knock if off!
Kind of shoots down the lie that Bush and the Republicans did nothing about regulation when times were good. Strange that whenever the media reported on the two mortgage giants there was no mention that Bush tried to get regulation upon them, perhaps it does not fit the notion of "chimpy" being the "dumb shmuck" the MSM tried to paint him as. Sooner or later Bush will be vindicated.
Massachusetts what the hell are you doing, stop sending assclowns to Washington. dont you know you've been getting Punked for the last 30 years, you have to be one of the dumbest states in the Union., where do you find these pieces of human excrement...Frank, Kerry, and don't forget about Teddy (lard ass) Kennedy.
somebody should go to Washington and rip the liar head off this creep Barney Frank! what a most despicable and disgusting thing he most certainly is! one of the biggest Frauds in DC these days, right behind Obama and Pelosi, disgusting bunch of Liars!
drwand needs a civics lesson. A party's majority in government does NOT mean they always get their way. The MARGIN and cohesion of the majority is key. During W's 1st term, Republicans wanted to get reasonable FM/FM regulations for Bush to sign, but they didn't have enough Dem votes for passage. Therefore, greedy, influential ideologues like Barney Frank had enough political power to thwart regulation efforts. Remember also that the Repub majority in the Senate was not filibuster proof.
drwand is a liberal democrat who is hired to write shit on different sites, trying to divert attention from Obama and the Democrat Congress. He is not even worth replying to.
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Just more rightwing spin...Republicans controlled both houses of Congress and the Presidency during this time. FM/FM did not cause the financial crisis. This is malarkey/spin for the gullible driven by a rightwing political agenda. DO NOT rely on spinning-talkingheads!
It's idiots like you that are killing the country. You got your communist control of all three branches of government now. You are just too stupid to see it.
dude if you actually watched the video they even talked about the democrat opposition and how it thwarted republican attempts at passing regulatory measures
Barney Frank's tenure on the house financial services committee has been marked by numerous failures. Why is Barney Frank such as ineffective legislator? Is he financially ignorant or do his homosexual tendancies impair his judgement? Either way, he needs to either resign or hang himself with the Constitution.
Frank was very effective, an excerpt from Wikipedia: Frank's former partner, Herb Moses, was an executive at Fannie from 1991 to 1998, where Moses helped develop many of Fannies affordable housing and home improvement lending programs. In 1991, Frank pushed for reduced restrictions on two- and three-family home mortgages. During the time that Frank was in a relationship with Moses, he blocked tougher regulations on the banking companies
Face it, our govt (not just Frank) made this mess.
God dammit, is it that hard for me to live a life without being robbed?
When 95% of the population wants something, and our politicians go against our words, isn't it common sense that they are getting orders from someone else?
This is not a conspiracy theory folks. It is happening RIGHT BEFORE OUR EYES.
This is the message I am feeling from our "leaders"...
"Follow us and get us rich, or we will drive this entire country into the ground"
Barney Frank is one of the most despicable, pathetic, thin-skinned, & dishonest politicians of our time. Anybody who speaks out against him or questions his views is summarily labeled as "intellectually dishonest" or "homophobic". This cancer wouldn't have so much power and get away with so many conflicts of interest if he wasn't gay.
jgrover- No, it's actually a lack of intellectual honesty or possibly, as you have chosen to do here, the propensity for his detractors to always cite his sexuality, or proclivities thereof, when attempting to criticize this Senator's platform. Objectivity is a difficult criterion to maintain when assessing a statesman's performance. Your subjectivity is obvious in the commentary which you left.
When do his detractors ever cite his sexuality- give me one example of a conservative doing so. He's a crook and a big reason why we're in this economic mess. Am I now a homophobe because of my criticism of Mr. Frank???
admticheese-The mere fact that you are responding to my reply to 'jgrover78', without referencing his obvious citings in the aforementioned vein, negates your defensive but indefensible inquiry. I'm not personally aware of your criticism of Sen. Frank so I prefer not to comment on that which I don't know.
1st, he is not a Senator. 2nd, your argument falls flat on its face. When independent auditors were raising the idea that the GSE's were getting too big, he summarily dismissed their concerns without actually giving any analysis as to why he thought the GSE's were in good shape. But he didn't stop there--he then questioned their competence. These were experts in their field and they turned out to be right. Is that objective enough for you? Nobody brings up his sexuality-he does it himself.
Some regard private enterprise as if it were a predatory tiger to be shot. Others look upon it as a cow that they can milk. Only a handful see it for what it really is - the strong horse that pulls the whole cart. - Winston Churchill
Well, simple anecdotes don't do it for me. But I believe most of enterprise IS a predatory tiger. In fact, a selfish, unpatriotic, predatory tiger. And that goes for government as well, republican and democrat. Disagree with you there, but I really am not happy with Obama for not saying the crap put forth of that treasurer and Dodd should not be tolerated. He is not living up to pledge of 'no more business as usual.'
Who creates it? The consumers create it, and don't ever forget that. These said same consumers have been treated as a cheap commodity for the past 4 decades. So what are they? Fortune 500 companies are clearing out Americans and pushing guest worker programs and H1-B faster than you can think about it. Even though it's been proven they ARE NOT better. They are crushing infrastructure, making the world less secure, driving up healthcare, destroying schools, etc. I feed and protect myself.
Wrong. People existed long before any business did. Actually, bartering was the first form of business. Bartering is trading. Bartering is I give you this, you give me that. If you say, 'If I don't give you this,you'll die,' Then I'll say, 'Goodbye.' You should know about the will to survive, shouldn't you? If the consumers do nothing and say, I'll wait for producers, then they'll starve.
Right. The farmer is both a producer and a consumer. The logical point being that it is a relationship. I used to drive a catering route in the city for a small biz; one day a homeless lady came up to the truck and began making herself a cup of coffee. Being young and stupid, I said 'Hey Lady, what are you doing?' I wanted to show the owner a good profit. A customer gave me money for her coffee and my performance cost me a few customers. I learned a good lesson that day.
Yes. harder to argue points when you're close ideologically. Not like the guy who just took a position against me on 'the young turks dissect don imus.' I had to straighten him out. If I'm wrong, I'm wrong, but let's get to the truth!
Did the homeless lady ASK or just come right up and take it. How do you know she was homeless? If she really was homeless she needed FOOD not a cup of coffee.
Most democrats I know will say that since this clip is on FOX it is faked. That is NOT Barney Frank, either it is dubbed or a CGI creation made by Halliburton.
What a strange, almost embarrassingly effete comment. If you were to cite knowledgeable people, be they D or R, they might say how strange that FOXNN chose to show only Sen. Frank's support of the GSEs in question and at a time when our Congress and Senate were both in a so-called 'conservative' majority. It was also a time when Fed.budgets started to expand logarithmically in spite of an 'offline' rapidly growing war debt. Money presses were printing full time I'd guess. Sen. Frank caused it?
Barney frank has failed in his capacity as both a member and chairman of the house financial services committee. As Senator Grassly recently stated it's time for Congressman Frank to either resign or commit suicide. What's make a guy like Frank such as ineffective legislator.
Your question of Sen. Frank's 'ineffectiveness' as a legislator is obviously unwarranted. Apparently, from the tenor of this clip and many of the rants on this board, he has single-handedly co-opted the entire GSE support from both houses for the past 25 years. that, in your estimation, is "ineffective"? What say you?... propaganda is a powerful persuader to a lazy mind.
It is so amazing that was on cspan and covered by Fox and people still don't believe it. Of course no other network is going to show this, it makes their people look bad because they are bad. Do you really expect to see this on CNN, NBC, ABC, CBS or MSNBC? NO!! I love the excuse of Frank that he was only in power for 18 months and did not see this coming! Even last year, Frank said both Fannie and Freddie were financially sound! Look what happened to McCain and these liberals ignore this!
How can you protect an agency like Fannie/Freddie which will cost the taxpayer $1.5 Trillion and suck a whole bunch of cocks at the same time ? Gotta give the boy credit though - he sure can multitask
Can we hang Barney Frank for being a part of the problem that destroyed this nation ?
Since we all now know that Barney Frank & Chris Dodd were the liberal fools responsible for the housing crisis that started this whole thing. Being that they are the head of housing, banking and finance NOW these two idiots are in charge of BILLIONS of the stimuls money and BILLIONS of the Housing Recovery Plan, say goodbye to our hard earned tax dollars!
Calling FACTS propaganda is easier that refuting them. And you may want to spend a little more time fact-checking your info, than calling posters names . . . The Bush admin & congress AUTHORIZED 700 billion in Sept, but only SPENT $350 . . . the balance was released (by request) to the Obama administration, and they spent it . . . . The Bush admin was at fault in that they didn't make the public aware of what the Democrats were doing. Anyone with a brain can see who really did this . . .
Anyone with a brain can see they both did it. The facts show it. The time line given by this very video was at a time when the republicans had both houses and the White House. One would have to ask why they were so INEFFECTIVE.
THIS VIDEO AS PROPAGANDA IS WITHDRAWN; It effectively points out that Democrats are incompetent and their rhetoric far from matches deed in what they have effectively given republicans a bad rap for. I apologize.
I want to find the vote on oversight, exactly which republicans went with ranking member Barney Frank. Democrats could not have done it on their own. or could they? I need to find who controlled committees
The way to find out about anything is to follow the money. Back when it was reported that Jessee Jackson was a billionaire, I had to find out how he made his money. I thought his only job was to shoot his mouth off about racism that doesn't exist. Turns out a lot of the same companies that fund republicans also fund Jackson.
The illegal immigration problem puts it right in our faces that there is NO DIFFERENCE between these two parties. Did McCain siding with Teddy Kennedy tell us nothing??? Unfortunately, the pubs think the answer is to start courting the same people as dems... seeing white people as a group are unorganized and fast becoming a minority.
You could use the example of Rod Blagojevich. If he had waited long enough, he would have gotten his millions in bribes. But, he got greedy and overreached. The same thing is happening with Obama and the Democrats. Yeah, the Republicans are greedy too; but, they don't seem to get caught too often. That's just my opinion, I could be wrong of course.
THIS VIDEO IS PROPAGANDA: Barney Frank is a loser, for sure, like the republican losers that get voted in and like the loser that would've been voted in if it wasn't Frank because frankly, (pun intended), the choices suck. BTW, isn't the need for regulation just what the pubs last September called BIG GOVERNMENT???? Repugs are hypocritical dumbasses. Their hypocrisy never fails to astound.
You're the dumbass. Have you done any homework at all on this issue? There's no question that the direct responsibility for the mortgage mess lies squarely with the Democrat Party. The Republicans can be faulted for giving into the Dems' racial blackmail to be sure. It is certainly possible to be against big government and at the same time recognize the need for regulation of certain issues. There is no hypocrisy in calling for regulation of an agency actively engaged in fraud. Liberal nitwit.
Direct responsibility lies with BOTH parties nitwit. Bush and his boys pushed the home ownership bit again and again and spoke to the solvency of these two frauds quite often. You're the idiot that needs to do homework. Nasty little pugs let 800 billion dollars go to banks without imposing one single caveat on it last September. Oops! Who pushed for that????Dumbass! Pugs have loosening regulations of all sorts for the last 40 years dumbass. Do your homework.
As to your argument that because Republicans are generally for less government regulation, they are hypocritical because they wanted regulate Freddie Mac and Fanny Mae when it became apparent there was a problem looming is stretch. No normative Republican is for no regulation at all. Tell me, are Democrats who believe that some aspects of the American economy shouldnt be regulated (and most do believe there is at least some room for private enterprise) also hypocrites?
To continue, by your argument, the only way one can not be a hypocrite is to be at one of the fringe extremes: either wanting all state control, (Marxism) or no state control (anarchy). Anyone who thinks some things should be regulated and other things shouldnt be is a hypocrite I guess. One last note, dont forget that it was an absurd (and democrat backed) regulation requiring banks to give more risky loans at lower interest rates that brought about this disaster in the first place.
A leftist labeling people who disagree dumb. Shocking. Ive never seen that tactic. Im referring to your over use of all capital letters, repeated punctuation (????), and use of labels like Dumbass. It makes you appear to be a screamer - Irrational, childish, and yes, incoherent.
OK. You missed entirely my original statement-that being the pot is calling the kettle black. I have no great love at all for the two-party system which is why this country is really going down. It's an entrenched game and both sides are really the same. This video is propaganda for that reason. Republicans have a 40-year record of dismantling regulation for big business. BTW, Check your own use of labels and punctuation-you rightest republican hypocrite. Shocking.
Right. This video convinces me it's a two-party system failure. It does, for sure, show that the democrats have been a failure. However, when you do a search on republican dismantling of regulations, there is an abundance of citations. Maybe they aren't all true, but what if they are? BTW, my vote went to Romney in the primary and nobody in the final.
The truth is not hidden but just not reported. Important and revealing news shelved. News slots crammed with fluff or doctored slant of the truth. Can anybody say END TIMES?
''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.'' 2003 - NYT
5 years later - Catastophe in the housing market - 60% of homeowners are upside down,
what is the primary reason barney frank is an ineffective and abysmal financial legislator? Is it because he economically ignorant or is it because his rational judgement is severely impaired by his homosexual tendancies?
McCain (old and ugly)saw the probelm coming ... handsome, young, witty Obama did not even realise there was a problem ... shame the the US and UK tend to vote for appearence rather than substance !
George - how can you watch this video and look at all the other evidence of the economic crisis and blame Bush. Barney Frank, Barbara Boxer etc are the ones that should be under investigation. They my friend are the ones who are primarily responsible for this mess.
Bush as early 2002 pushed easy lending for homes. Barney Frank is fat, arrogant bloviating hypocrite who has NO right pretend to be outraged. Republicans and Democrats wanted to keep this party going. They are equally guilty.
I just seen a poll a couple weeks ago on how alot of voters blamed the republicans for the financial mess...lol and they were voting democratic this election. Surprising, how so many people are clueless and think things will get better with a democratic government, they have another thing comming.
Its real sad but very true. Its no coincidence that our economy started to plummet once the Dems took control of Congress in '06 (The Dow Jones had 2 booming years in 2000 & 2006, both before the Democrat Congress came in late-06) but the media would never put 2-and-2 together. If people only weren't so naive and blinded by empty rhetoric by the media & the Obama campaign. Its even worse that theres literally documented evidence & people STILL deny it! But we'll see what Mr. O has to offer us...
I'm not a Bush basher. All presidents make mistakes. It's obvious he tried to prevent the Fannie May, Freddy Mac situation long ago.Obama? come on people, are we really ready for this guy? NO!
Yes, the Dems and their socialist institutions, Freddie and Fannie, are largely responsible for this mortgage crisis. Bush, also, adopted the Socialist belief that Americans have a right to own a home, so he bears much blame too. Time to get rid of Fannie and Freddie!
Fannie has been around since 1938 & operated successfully. Hard to blame its formation some 70 years later for the financial crisis. Freddie was formed in 1970 under Nixon. The problem is that Bush stopped the Attorney Generals in 50 states from prosecuting predatory lenders. The other problem was the Gramm Leahy Bliley deregulation bill introduced and passed by a Republican Congress.
Try as you may. Democrats (new socialists) set this up. It was perfect. Destroy the economy just in time for an election to usher in the next level of re-distribution. Then pound the propaganda into the heads of the sheep. Make them confused on who's to blame. They like easy to read headlines, and watch a lot of sitcoms. Flawless.
Republicans will take the blame because they are pussies with ZERO fight in them.
Minionup you have no facts to back you up your claims. The Republican controlled Congress from 1996-2006 and they did nothing to address the problems. In 1999 the Republicans deregulated the financial markets with the Gramm-Leach-Bliley Act.
The repealing of the Glass Steagall Act (google it) in 1999 by President Bill Clinton (Democrat), was actually the MAJOR cause of this crisis. Also when regulators began to look at Fannie Mae's book keeping, they were resisted by the likes of Maxine Waters (democrat), Gregory Meeks (democrat), Artur Davis (democrat)(watch?v=6Rg3LcSNylA). This is, and has always been a leftist scam to bring down capitalism in the United States. You should be ashamed of your self for supporting it.
Too much contrarian politics going on.
Di66en6ion 4 months ago
For someone trying to regulate Freedie/Fannie it's funny Bush got 440 Billion for minority loan purchase commits from Freedie/Fannie in 2002 for his Goal of 5.5 Million minorities by 2010.....don't believe me , believe your own EYES
watch?v=kNqQx7sjoS8
This video is Bush in His own words start about 4:00 minute mark or watch the whole video.
mrgetrealpeople 8 months ago 2
interesting how so many people are ignorant of the important fact of Clinton's signing of a repeal of the Glass Steagall Act before he left office; wiki it, it was an important protection against the creation of dangerous financial instruments. yeah, sadly even Bush and his gang just let it slide rather than pushing to get it reinstated.
desirefirst 10 months ago
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We hit it off so well after another visit busizz4me.info
yamunaperara 11 months ago
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We hit it off so well after another visit busizz4me.info
geratmathew 11 months ago
Senator Obama did not weigh in on that bill.......that says it all. These demorat bastards should all be charged with treason because they all knew what was going to happen. Weaken the sysyem, manage the decline, take political cover, and redistribute wealth as much as you can as long as you can before the fall. Throw George Soros out of office in 2012.
primecolorantsucks 1 year ago
The truth is Republicans hate when poor people get a leg up and that is what was behind their fear of the bubble. If anyone simply had the foresight to regulate both mortgage backed securities (look 'em up) AND sub-prime penalty practices, we wouldn't be where we are today.
thraknik 1 year ago
@thraknik Your response here is contradictory. You accuse the GOP of hating people. Yet you say that mortgage-backed securities, including sub-prime should have been regulated. As is pointed out in the video, that's exactly what the GOP tried to do a number of times, by regulating the GSE's . But the left refused. So into the tank the economy went, & we've bailed out all manner of stuff, including BILLIONS to Fannie/Freddie while their CEO's made hundreds of millions (Raines, et al).
FmrUSMCRnTX 1 year ago
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@thraknik BLAME BARNEY FRANK AND CHRIS DODD THEY CREATED THE MESS LOOK IT UP ASSHOLE
biggerturtle 1 year ago
SCUM...BAGS!!!
pureodb 1 year ago
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Barney reminds of a fat gay Fred Flintstone with a lisp. Voters need to retire him Im sure he already has a retirement beach house in Thailand with several 14 year old house boys! Retire this Fat Spend and Tax Bum!
lv2surf 1 year ago
NO NO NO!!!! Don't believe the facts..... Believe Obama. He would never lie?????
workformine 1 year ago
@workformine name one.
thraknik 1 year ago
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Please vote for Sean Bielat!
john51880 1 year ago
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What a piece of human shit.
btwall60 1 year ago
Google "Barney Frank takes us for a ride" animation
have you had a chance to look at this animation yet? a 14-year-old's animation with humor and clarity explains the crash of 2008 in 60 seconds!!!!!!!!
for a quick, 60-second informative and funny tour of why Mr. Barney Frank is in trouble electorally, take a look at (by googling these words:) "Barney Frank takes us for a ride"
Theanimatorman1 1 year ago
Great video which tells the TRUTH about much of what led us into the financial crisis. It actually began with Carter's CRA, which the left continues to admire and push to this day! Barney Flank, Dodd, Reid, Pelosi, et al ad nauseum continue to insist that "everyone has a RIGHT to own a home"...regardless of whether people can afford to buy a home! Duh! Now, our national government has spent a TRILLION $ for "stimulus" which has miserably failed! Duh!
FmrUSMCRnTX 1 year ago
@FmrUSMCRnTX A crappy $100K house costs about 1k per month. A crappy apartment, about the same. Your affordability argument doesn't work. As for the trillions in stimulus, it's way better than trillions spent on war. Or corporate profits for health care insurers. Or the monies companies like Exxon and GE don't pay in US taxes. Duh, to you.
thraknik 1 year ago
@thraknik So, it appears that you'd do away w/free market principles as well as national defense. You'd rather have the national government just take over everything and to use your idolic messiah's own words "spread the wealth around". In other words, move the USA from the principles & practices that made it the greatest nation in world history and move to socialism! And we see just how well that's worked over the course of the last 100 years around the world, haven't we?
FmrUSMCRnTX 1 year ago
@thraknik did you suck Barney's dick? That's what we heard.
biggerturtle 1 year ago
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Nomorepain12345 1 year ago
@Nomorepain12345 "No it was Bush.The news told me so."
Nomorepain12345 1 year ago
Why does that bone smoker Barney sond like he has marbles in his mouth? Or are those some guys testicles?
kolgy1 1 year ago
As soon as I seen Fox News, I knew it was bull shit, its that simple folks, don't be a chump, don't be a bad American, know your enemies. You Fix Noise ditto heads phuck you
chucknchar 1 year ago
A new financial reform bill titled "Inclusion of Minorities and Women; Diversity in Agency Workforce" requires each federal financial agency, the Fed Board of Governors and the 12 regional Fed banks to "establish an Office of Minority and Women Inclusion" with the purpose of ordering regulators to allocate credit by race and gender.
islandmuffin 1 year ago
''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.''
tickyul 1 year ago
1998 JANET RENO "The new Community Reinvestment Act regulations enable lenders to develop customized strategic plans for meeting their obligations under the Act, and many have been developed in partnership with your local organizations. In this way you are not only helping to rebuild your communities, but you are showing bankers how to be responsible corporate citizens. In short, you can't do it just with capital, you can't do it just with people who care"
MaDmOnkyKungFu 1 year ago
@MaDmOnkyKungFu Bill Clinton put Janet Reno and the Justice dept in charge of enforcing the Community Reinvestment Act and politicized the Financial indistry. Its still in progress Obama wants FHA to guy more toxic mortgages so we can have more future bail outs.
MaDmOnkyKungFu 1 year ago 2
@MaDmOnkyKungFu that way the gov can have control of everything and lead us closer and closer to communism
RachelAMullins 1 year ago
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MaDmOnkyKungFu 1 year ago
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Nomorepain12345 1 year ago
Barney Frank destroyed the American Economy.The Biggest idiot in history next to Obama.How to put the US into a Depression 101.
Nomorepain12345 1 year ago
actually, it was george bush that goofed everything up, not frank.
maciindrew 1 year ago
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lol! Its people like you who believe anything the media and politicians tell you.If you tell someone a lie 15 plus times they will believe anything.Research for yourself what started the housing crash.And who tried to stop it.Bush actually tried to regulate the market as well as Mc.Cain.Even thou I can't stand both of them.Dues to their liberal stance on Immigration
Nomorepain12345 1 year ago 2
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Time to unwind this mess. I do not know if the USA can realistically escape the "socialist" title anymore. Let see, we prop up Amtrak, USPS, Many Airlines, Fan- Fred to name a few. Then we have a ponzi scheme name Social Security. Medicare and Medicaid are two programs that have huge future obligations they cannot meet, oh I guess they can by printing more debt. Am I supposed to consider this a serious country? Oh, let's not forget the constant globetrotting missions the military is always on.
tickyul 1 year ago
Barney Frank took over Fannie Mae, stock dropped 90 %, Epic dem fail. Liberals need to shut their fuckin mouths because they are wrong. Barney Frank is a failure as a de facto CEO. Liberal politicians cannot run a business anywhere but into the ground.
polarbear3333333333 2 years ago 4
polarbear3333333333, it is even worse.
His chief economic advisor was/is Franklin Raines!!!!
His man in charge of your taxes and the treasury was President of New York Federal Reserve. Yes Wall Street. He knew what was coming.
RioJag 2 years ago
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Another interesting attempt by fox news to rewrite history cast as news. If only we had listened to the republicans and George Bush none of the real estate and financial meltdown would have happened! There was a lot more to it than Freddie and Fannie. There were a lot of complex unregulated financial instruments and good old American greed all around that had roots clear back in the Reagan administration.
1netvoice 2 years ago
@1netvoice - Man go drink some more of that spiked kool-aid, you're drunk as a dog! You can place the facts and the people spewing it right in front of these fools faces and they still deny. Just like Yuri Bezmenov said, they are brainwashed beyond repair. Eat it comrade, the gig is up!
FastingOnClowns 2 years ago
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collapseofthedollar 2 years ago
In response to the idiocy of DestructerX.... House and Senate Republicans brought attention to the shady practices of Fannie and Freddie numerous times, including introducing into the House HR 2803 Housing Finance Regulatory Restructuring Act of 2003. The bill was filibustered by the Democrats along party lines. It was then sent to the House Financial Services Committee where Barney Frank killed it. Learn your history, until then keep your mouth shut. Once again, Democrats guilty as charged.
WhereIsCommonSense 2 years ago 20
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mrboffo1 1 year ago
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@WhereIsCommonSense Fannie and Freddie did not cause the subprime meltdown. They did not write subprime loans.
The meltdown was caused by the deregulation of Reagan and Clinton combined with a total lack of willingness on the part of the Federal Reserve and the Bush administration appointees to curb the CDO craze during the Bush years.
mrboffo1 1 year ago
@WhereIsCommonSense
Fannie and Freddie did not cause the subprime meltdown. They did not write subprime loans. They did purchase CDO's, bundled mortgages written by other banks. They were ordered to do so by George Bush in 2004.
The meltdown was caused by the deregulation of Reagan and Clinton combined with a total lack of willingness on the part of the Federal Reserve and the Bush administration appointees to curb the subprime and CDO craze during the Bush years.
mrboffo1 1 year ago
@WhereIsCommonSense Too bad they didn't look at the much shadier practices of AIG, Wall Street, and sub-prime lenders. That would have been much more helpful, although that would mean a missed opportunity to demonize the poor.
thraknik 1 year ago
@thraknik Those "shady practices" of Wall Street were championed by the Democrats in the House. Barney Frank liked the idea of derivatives so much he instructed Fannie and Freddie to purchase billions of dollars in derivatives from the banks on Wall Street to open up more capital so he can "regulate" those banks into making even more dangerous loans. Taxpayers will be paying the bill for Barney's "regulations" for quite some time. The toll was pretty hefty.
WhereIsCommonSense 1 year ago
If McFascist and Bush knew about it then why didn't they do anything about it? they had the majority. 01-jan 07
Repugs 100% GUILTY AS CHARGED!! as usual!
DestructerX 2 years ago 8
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halenfanatic 1 year ago
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willybemyname 1 year ago
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halenfanatic 1 year ago
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HomeBoysRule 1 year ago
@DestructerX Amen my brother, when that republitard raised the gas up and alot other things went up. Bush the worst president this US ever had.
Realdeal232005 1 year ago
@DestructerX
Becaause the majority that you speak of was a mere 2 Senators and less than a dozen in the House. When you go against a block that the DEMS had in the amounts they had, nothing gets done. I thought that might be clearly evident when the DEMS had SUPER majorities in both the House and Senate, yet STILL had problems passing the HC Bill. I guess you dont know how it works in DC...
kkirves 1 year ago
@kkirves it was the repubs that brought attention to the problem way back then! so why do they get credit for this subprime melt down? obama was pusshing those insane loans all along and now he says its bushes fault? what a liar
gjones440 1 year ago
@gjones440
And I agree, am I missing something?
kkirves 1 year ago
@DestructerX , because the had crooks like Barney Frank fighting against intervention! It even says "the legislation was blocked" in the video! Who do you think blocked it? Barney Frank and his cohorts!
99minerkc 1 year ago
The warning flags were put up and no one paid attention! America better wake up!
eysbluelpn5 2 years ago
PhiltrumOz,
One party can't get legislation through both houses of congress by itself, unless it had veto-proof majorities in both houses. Unlike the current situation with the Democrats, they are completely unchecked (except now Kennedy is gone). But we have to trust these Libs, I mean, they know all the words to the song Kumbaya.
ilisid 2 years ago 5
Please help support the federal reserve transparency act! Our representatives have the right and responsibility to audit the federal reserve!
Barney's not on same page as Obama, Barney wants a secretive non transparent non accountable FED! Listen to his statements carefully, he doesn't support a FED audit (true transparency), only makes it sound like he does!
GoLuckyOops 2 years ago
Fox News just hears what they want to hear
mikejr879 2 years ago
dude its in your face .... What more do you need ?
69dogecharger 2 years ago
Barney Frank is at it again, bullying banks not to forclose on homes. This guy is the biggest bully and crook!
frankieosf 2 years ago
He should go back to underage teen prostitution.
cafelattefuture 2 years ago
I can't believe that people can still defend Barney Frank. He is directly responsible (among others) for the economic crisis, and yet people still go on defending that lying douchebag. There are enough vids on YouTube proving what a liar Frank is. It astounds me that people just refuse to acknowledge that the Democrats played a monumental role in ignoring the warnings and letting the bubble burst. Now all Americans get to pay for it. Lucky, lucky!
xxlesslikeitsmathxx 2 years ago 6
Barney is hated by many...it just ASTONISHES me he still has his job!!!
HouseNigro 2 years ago 15
@HouseNigro not nearly as adore him that's how.
ccm800 1 year ago
Bottom line...Bush Administration did NOTHING to stop the push to increase homeownership. They actually were bragging up the fact that the homeownership rate was going up (to about 69% a few years ago) and trying to take political credit for it.
libertyrepub 2 years ago 3
Better look at the time line Bush Admin. brought it up in 2001, 2003, 2005, and in 2006 and 2007 but Barney Frank and the Democrats would do nothing. It is all documented on youtube just look it up.
mustardom 2 years ago
But Republicans had the White House for 8 years and both houses of Congress for most of that period. Bush never appointed anyone at Treasury or at the banking agencies who was serious about dismantling Fannie and Freddie (or HUD, FHA, CRA). I despise Barney Frank as much as anyone else, but you can't blame him for anything before 2007 as he only then ascended to head the financial services committee.
libertyrepub 2 years ago
While you do have a point libertyrepub, it doesn't deny the fact that the Democrats were totally responsible for the mortgage disaster that caused the economy to collapse. Bush unfortunately, didn't do enough sadly because he didn't want to look like a racist, in my opinion. Same goes for McLame. They were both right on when they wanted more oversight on fannie & freddie. Neither had a set of iron balls & Bush didn't use the bully pulpit and bully these MORONS to knock if off!
hilariouskid 2 years ago
Kind of shoots down the lie that Bush and the Republicans did nothing about regulation when times were good. Strange that whenever the media reported on the two mortgage giants there was no mention that Bush tried to get regulation upon them, perhaps it does not fit the notion of "chimpy" being the "dumb shmuck" the MSM tried to paint him as. Sooner or later Bush will be vindicated.
abarzilai664 2 years ago 3
fannie mae and freddie mac didnt make the banks speculate on bad mortgages they did that themselves
cphoover11 2 years ago
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Massachusetts what the hell are you doing, stop sending assclowns to Washington. dont you know you've been getting Punked for the last 30 years, you have to be one of the dumbest states in the Union., where do you find these pieces of human excrement...Frank, Kerry, and don't forget about Teddy (lard ass) Kennedy.
Mrcharliebobo 2 years ago
somebody should go to Washington and rip the liar head off this creep Barney Frank! what a most despicable and disgusting thing he most certainly is! one of the biggest Frauds in DC these days, right behind Obama and Pelosi, disgusting bunch of Liars!
MilesMuhldoon 2 years ago
drwand is a Democrat hack.
didyoulisiten 2 years ago
drwand needs a civics lesson. A party's majority in government does NOT mean they always get their way. The MARGIN and cohesion of the majority is key. During W's 1st term, Republicans wanted to get reasonable FM/FM regulations for Bush to sign, but they didn't have enough Dem votes for passage. Therefore, greedy, influential ideologues like Barney Frank had enough political power to thwart regulation efforts. Remember also that the Repub majority in the Senate was not filibuster proof.
gschong 2 years ago 2
drwand is a liberal democrat who is hired to write shit on different sites, trying to divert attention from Obama and the Democrat Congress. He is not even worth replying to.
didyoulisiten 2 years ago
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he a useless liberal faggot.
thedecider1984 2 years ago
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Benjamin Franklin - Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety.
x96riley3 2 years ago
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Just more rightwing spin...Republicans controlled both houses of Congress and the Presidency during this time. FM/FM did not cause the financial crisis. This is malarkey/spin for the gullible driven by a rightwing political agenda. DO NOT rely on spinning-talkingheads!
drwand 2 years ago
FM/FM did not cause this crisis? You need to watch this, dude:
watch?v=_MGT_cSi7Rs&feature=related
The Repubs tried to regulate them, but the Dems stopped them.
xtreme1002003 2 years ago
Have you heard of a little thing called the filibuster?
jbz7890 2 years ago 2
It's idiots like you that are killing the country. You got your communist control of all three branches of government now. You are just too stupid to see it.
rogertrew 2 years ago
dude if you actually watched the video they even talked about the democrat opposition and how it thwarted republican attempts at passing regulatory measures
jdsccr9 2 years ago 2
Barney Frank's tenure on the house financial services committee has been marked by numerous failures. Why is Barney Frank such as ineffective legislator? Is he financially ignorant or do his homosexual tendancies impair his judgement? Either way, he needs to either resign or hang himself with the Constitution.
huskie767 2 years ago
i think it's because he is financially ignorant, and i think you are ignorant to imply that homosexuals have impaired judgement
jdsccr9 2 years ago 2
Frank was very effective, an excerpt from Wikipedia: Frank's former partner, Herb Moses, was an executive at Fannie from 1991 to 1998, where Moses helped develop many of Fannies affordable housing and home improvement lending programs. In 1991, Frank pushed for reduced restrictions on two- and three-family home mortgages. During the time that Frank was in a relationship with Moses, he blocked tougher regulations on the banking companies
Face it, our govt (not just Frank) made this mess.
jessygirlg 2 years ago
God dammit, is it that hard for me to live a life without being robbed?
When 95% of the population wants something, and our politicians go against our words, isn't it common sense that they are getting orders from someone else?
This is not a conspiracy theory folks. It is happening RIGHT BEFORE OUR EYES.
This is the message I am feeling from our "leaders"...
"Follow us and get us rich, or we will drive this entire country into the ground"
When they talk, that is what I hear.
jeebsy12 2 years ago
Barney Frank is one of the most despicable, pathetic, thin-skinned, & dishonest politicians of our time. Anybody who speaks out against him or questions his views is summarily labeled as "intellectually dishonest" or "homophobic". This cancer wouldn't have so much power and get away with so many conflicts of interest if he wasn't gay.
jgrover78 2 years ago
jgrover- No, it's actually a lack of intellectual honesty or possibly, as you have chosen to do here, the propensity for his detractors to always cite his sexuality, or proclivities thereof, when attempting to criticize this Senator's platform. Objectivity is a difficult criterion to maintain when assessing a statesman's performance. Your subjectivity is obvious in the commentary which you left.
tracer740 2 years ago
When do his detractors ever cite his sexuality- give me one example of a conservative doing so. He's a crook and a big reason why we're in this economic mess. Am I now a homophobe because of my criticism of Mr. Frank???
admrlcheese 2 years ago
admticheese-The mere fact that you are responding to my reply to 'jgrover78', without referencing his obvious citings in the aforementioned vein, negates your defensive but indefensible inquiry. I'm not personally aware of your criticism of Sen. Frank so I prefer not to comment on that which I don't know.
tracer740 2 years ago
1st, he is not a Senator. 2nd, your argument falls flat on its face. When independent auditors were raising the idea that the GSE's were getting too big, he summarily dismissed their concerns without actually giving any analysis as to why he thought the GSE's were in good shape. But he didn't stop there--he then questioned their competence. These were experts in their field and they turned out to be right. Is that objective enough for you? Nobody brings up his sexuality-he does it himself.
jgrover78 2 years ago
Some regard private enterprise as if it were a predatory tiger to be shot. Others look upon it as a cow that they can milk. Only a handful see it for what it really is - the strong horse that pulls the whole cart. - Winston Churchill
AbitaVets 2 years ago
Well, simple anecdotes don't do it for me. But I believe most of enterprise IS a predatory tiger. In fact, a selfish, unpatriotic, predatory tiger. And that goes for government as well, republican and democrat. Disagree with you there, but I really am not happy with Obama for not saying the crap put forth of that treasurer and Dodd should not be tolerated. He is not living up to pledge of 'no more business as usual.'
propogandapolice 2 years ago
what complete crap.
just who creates the economy that feeds us all?
damn sure ain't anything but private enterprise.
Must be nice to be able to write off all that feeds and protects you.
AbitaVets 2 years ago
Who creates it? The consumers create it, and don't ever forget that. These said same consumers have been treated as a cheap commodity for the past 4 decades. So what are they? Fortune 500 companies are clearing out Americans and pushing guest worker programs and H1-B faster than you can think about it. Even though it's been proven they ARE NOT better. They are crushing infrastructure, making the world less secure, driving up healthcare, destroying schools, etc. I feed and protect myself.
propogandapolice 2 years ago
consumers only consume. nothing else.
put a hundred consumers on a island with no producers.
consumers starve. end of story. short but true.
Foreign workers, I don't mind the competition, if Americans worked better we might not fear the immigrant. Illegals excluded.
I feed and protect myself.
Damn fine answer. why, the only acceptable answer actually.
AbitaVets 2 years ago
Wrong. People existed long before any business did. Actually, bartering was the first form of business. Bartering is trading. Bartering is I give you this, you give me that. If you say, 'If I don't give you this,you'll die,' Then I'll say, 'Goodbye.' You should know about the will to survive, shouldn't you? If the consumers do nothing and say, I'll wait for producers, then they'll starve.
propogandapolice 2 years ago
Farmers are producers not consumers
Bartering is business. just a cashless enterprise.
If they shift from consumer to producer then paradigm changes.
AbitaVets 2 years ago
Right. The farmer is both a producer and a consumer. The logical point being that it is a relationship. I used to drive a catering route in the city for a small biz; one day a homeless lady came up to the truck and began making herself a cup of coffee. Being young and stupid, I said 'Hey Lady, what are you doing?' I wanted to show the owner a good profit. A customer gave me money for her coffee and my performance cost me a few customers. I learned a good lesson that day.
propogandapolice 2 years ago
i WOULD HAVE REACHED INTO MY POCKET ONCE, MAYBE TWICE.
BUT YOU HAVE TO PROTECT THE BUSINESS OTHER WISE, NOW YOU HAVE NO JOB TO HELP ANYBODY, NOT EVEN YOURSELF.
AbitaVets 2 years ago
Can we call it a draw?
propogandapolice 2 years ago
sure, I am just a little to the right of you, we are both from same area ideologically. just slightly different outlooks.
AbitaVets 2 years ago
Yes. harder to argue points when you're close ideologically. Not like the guy who just took a position against me on 'the young turks dissect don imus.' I had to straighten him out. If I'm wrong, I'm wrong, but let's get to the truth!
propogandapolice 2 years ago
ditto
what does the left fear of the truth.
AbitaVets 2 years ago
Did the homeless lady ASK or just come right up and take it. How do you know she was homeless? If she really was homeless she needed FOOD not a cup of coffee.
okvideos5 2 years ago
Most democrats I know will say that since this clip is on FOX it is faked. That is NOT Barney Frank, either it is dubbed or a CGI creation made by Halliburton.
alexsarus 2 years ago
What a strange, almost embarrassingly effete comment. If you were to cite knowledgeable people, be they D or R, they might say how strange that FOXNN chose to show only Sen. Frank's support of the GSEs in question and at a time when our Congress and Senate were both in a so-called 'conservative' majority. It was also a time when Fed.budgets started to expand logarithmically in spite of an 'offline' rapidly growing war debt. Money presses were printing full time I'd guess. Sen. Frank caused it?
tracer740 2 years ago
Barney frank has failed in his capacity as both a member and chairman of the house financial services committee. As Senator Grassly recently stated it's time for Congressman Frank to either resign or commit suicide. What's make a guy like Frank such as ineffective legislator.
huskie767 2 years ago
Your question of Sen. Frank's 'ineffectiveness' as a legislator is obviously unwarranted. Apparently, from the tenor of this clip and many of the rants on this board, he has single-handedly co-opted the entire GSE support from both houses for the past 25 years. that, in your estimation, is "ineffective"? What say you?... propaganda is a powerful persuader to a lazy mind.
Please think before you type.
tracer740 2 years ago
It is so amazing that was on cspan and covered by Fox and people still don't believe it. Of course no other network is going to show this, it makes their people look bad because they are bad. Do you really expect to see this on CNN, NBC, ABC, CBS or MSNBC? NO!! I love the excuse of Frank that he was only in power for 18 months and did not see this coming! Even last year, Frank said both Fannie and Freddie were financially sound! Look what happened to McCain and these liberals ignore this!
armyofonerd 2 years ago
The american ship of state is now being steered by frank,dodd,schumer,pelosi.reid,and obama.And people wonder why the stock market has collapsed.
rw5791 2 years ago
There goes FOX again,
letting the facts get in the way of liberal, (err......."progressive"), lies.
"Change you can believe in"?
bobbytiger 2 years ago 3
I have a curious question about Barney Frank.
How can you protect an agency like Fannie/Freddie which will cost the taxpayer $1.5 Trillion and suck a whole bunch of cocks at the same time ? Gotta give the boy credit though - he sure can multitask
Can we hang Barney Frank for being a part of the problem that destroyed this nation ?
johns76222 2 years ago 3
Since we all now know that Barney Frank & Chris Dodd were the liberal fools responsible for the housing crisis that started this whole thing. Being that they are the head of housing, banking and finance NOW these two idiots are in charge of BILLIONS of the stimuls money and BILLIONS of the Housing Recovery Plan, say goodbye to our hard earned tax dollars!
dantheleo 2 years ago
Calling FACTS propaganda is easier that refuting them. And you may want to spend a little more time fact-checking your info, than calling posters names . . . The Bush admin & congress AUTHORIZED 700 billion in Sept, but only SPENT $350 . . . the balance was released (by request) to the Obama administration, and they spent it . . . . The Bush admin was at fault in that they didn't make the public aware of what the Democrats were doing. Anyone with a brain can see who really did this . . .
gethefactsright 2 years ago
Anyone with a brain can see they both did it. The facts show it. The time line given by this very video was at a time when the republicans had both houses and the White House. One would have to ask why they were so INEFFECTIVE.
propogandapolice 2 years ago
THIS VIDEO AS PROPAGANDA IS WITHDRAWN; It effectively points out that Democrats are incompetent and their rhetoric far from matches deed in what they have effectively given republicans a bad rap for. I apologize.
propogandapolice 2 years ago
I want to find the vote on oversight, exactly which republicans went with ranking member Barney Frank. Democrats could not have done it on their own. or could they? I need to find who controlled committees
AbitaVets 2 years ago
The way to find out about anything is to follow the money. Back when it was reported that Jessee Jackson was a billionaire, I had to find out how he made his money. I thought his only job was to shoot his mouth off about racism that doesn't exist. Turns out a lot of the same companies that fund republicans also fund Jackson.
propogandapolice 2 years ago
Cant argue with that,
what it boils down to is:
Democrats are bought off by trail lawers, overECO idiots, union thugs and racebaiters.
Republicans are bought off by corporations, businesses, and religious types.
I figure that the republicans are at least bought of by people who make something .
AbitaVets 2 years ago
The illegal immigration problem puts it right in our faces that there is NO DIFFERENCE between these two parties. Did McCain siding with Teddy Kennedy tell us nothing??? Unfortunately, the pubs think the answer is to start courting the same people as dems... seeing white people as a group are unorganized and fast becoming a minority.
propogandapolice 2 years ago
mega ditto
AbitaVets 2 years ago
You could use the example of Rod Blagojevich. If he had waited long enough, he would have gotten his millions in bribes. But, he got greedy and overreached. The same thing is happening with Obama and the Democrats. Yeah, the Republicans are greedy too; but, they don't seem to get caught too often. That's just my opinion, I could be wrong of course.
golbyaka 2 years ago
Of the corporations money that funds both Jessie Jackson, and also funds republicans.
Repubs offer protection from democrats,
Jessie Jackson extorts money from same corporations with threats of rent-a-mobs that he creates.
Like the brainless college kids that join ACORN for college credits.
The Republicans understand that you cannot kill the goose that lays the golden eggs.
you milk the cow not slaughter it like Democrats.
AbitaVets 2 years ago
THIS VIDEO IS PROPAGANDA: Barney Frank is a loser, for sure, like the republican losers that get voted in and like the loser that would've been voted in if it wasn't Frank because frankly, (pun intended), the choices suck. BTW, isn't the need for regulation just what the pubs last September called BIG GOVERNMENT???? Repugs are hypocritical dumbasses. Their hypocrisy never fails to astound.
propogandapolice 2 years ago
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miamidan51 2 years ago
You're the dumbass. Have you done any homework at all on this issue? There's no question that the direct responsibility for the mortgage mess lies squarely with the Democrat Party. The Republicans can be faulted for giving into the Dems' racial blackmail to be sure. It is certainly possible to be against big government and at the same time recognize the need for regulation of certain issues. There is no hypocrisy in calling for regulation of an agency actively engaged in fraud. Liberal nitwit.
miamidan51 2 years ago
Direct responsibility lies with BOTH parties nitwit. Bush and his boys pushed the home ownership bit again and again and spoke to the solvency of these two frauds quite often. You're the idiot that needs to do homework. Nasty little pugs let 800 billion dollars go to banks without imposing one single caveat on it last September. Oops! Who pushed for that????Dumbass! Pugs have loosening regulations of all sorts for the last 40 years dumbass. Do your homework.
propogandapolice 2 years ago
As to your argument that because Republicans are generally for less government regulation, they are hypocritical because they wanted regulate Freddie Mac and Fanny Mae when it became apparent there was a problem looming is stretch. No normative Republican is for no regulation at all. Tell me, are Democrats who believe that some aspects of the American economy shouldnt be regulated (and most do believe there is at least some room for private enterprise) also hypocrites?
marcelagae 2 years ago
To continue, by your argument, the only way one can not be a hypocrite is to be at one of the fringe extremes: either wanting all state control, (Marxism) or no state control (anarchy). Anyone who thinks some things should be regulated and other things shouldnt be is a hypocrite I guess. One last note, dont forget that it was an absurd (and democrat backed) regulation requiring banks to give more risky loans at lower interest rates that brought about this disaster in the first place.
marcelagae 2 years ago
Maybe you should try being coherent.
marcelagae 2 years ago
Too dumb to comprehend?
propogandapolice 2 years ago
A leftist labeling people who disagree dumb. Shocking. Ive never seen that tactic. Im referring to your over use of all capital letters, repeated punctuation (????), and use of labels like Dumbass. It makes you appear to be a screamer - Irrational, childish, and yes, incoherent.
marcelagae 2 years ago
OK. You missed entirely my original statement-that being the pot is calling the kettle black. I have no great love at all for the two-party system which is why this country is really going down. It's an entrenched game and both sides are really the same. This video is propaganda for that reason. Republicans have a 40-year record of dismantling regulation for big business. BTW, Check your own use of labels and punctuation-you rightest republican hypocrite. Shocking.
propogandapolice 2 years ago
Nice attempt to turn the debate from the democrats failure to a two party system argument.
Gee dems fail, when facts are presented, you cry propaganda, which is a not too subtle form propaganda.
Facts in the form of the democrats own statements of protecting,defending failure, to a point of destroying the economy....FOOL
repubs failure not being leaders, or an opposition party.
Republicans have a 40-year record of dismantling regulation for big business.
you show me repubs reglu success
AbitaVets 2 years ago
Right. This video convinces me it's a two-party system failure. It does, for sure, show that the democrats have been a failure. However, when you do a search on republican dismantling of regulations, there is an abundance of citations. Maybe they aren't all true, but what if they are? BTW, my vote went to Romney in the primary and nobody in the final.
propogandapolice 2 years ago
This video should be played every time the house and Senate convene. How stupid are those people in Massachusetts?
jamo387 2 years ago 2
The truth is not hidden but just not reported. Important and revealing news shelved. News slots crammed with fluff or doctored slant of the truth. Can anybody say END TIMES?
Bammy can do no wrong.
kimaschultz 2 years ago
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''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.'' 2003 - NYT
5 years later - Catastophe in the housing market - 60% of homeowners are upside down,
This is Barney Frank's fault!
FreeAgain2 2 years ago
THAT IS A GREAT CLIP WITH LEGISLATION BEING BLOCKED....OMG BARNEY SHOULD BE VOTED OUT. What is up with his entire constituant pool?
KansasRangers 2 years ago
what is the primary reason barney frank is an ineffective and abysmal financial legislator? Is it because he economically ignorant or is it because his rational judgement is severely impaired by his homosexual tendancies?
huskie767 3 years ago
McCain (old and ugly)saw the probelm coming ... handsome, young, witty Obama did not even realise there was a problem ... shame the the US and UK tend to vote for appearence rather than substance !
burnt62 3 years ago
Don't Get Foreclosed On Modify Your Loan go to homesaver(DOT)tk
saveurhomeplease 3 years ago
CARTER (social decision)-->CLINTON (financial decision)-->DODD/FRANK/PELOSI/SCHUMER/CLINTON/OBAMA (stupid decision)
xyberfunk 3 years ago
This comment has received too many negative votes show
McShame doesn't know anything about economics.
panther9mm 3 years ago
This comment has received too many negative votes show
We have to blame the Republican Party for this.
The fact is that Congress was under Republican control when this mess started.
Yet, they did nothing.
Just like Bush during 9/11.
The Republican Party is a self-interest party, and is the reason why the average person is worse off now than before Bush took office.
The people have been on to the Republican scam for years.
The voters had enough, and a new direction is coming.
George Vreeland Hill
GeorgeVreelandHill 3 years ago
George - how can you watch this video and look at all the other evidence of the economic crisis and blame Bush. Barney Frank, Barbara Boxer etc are the ones that should be under investigation. They my friend are the ones who are primarily responsible for this mess.
1rugratman 3 years ago 6
Your last statement pretty much proves you dont have any idea about politics. Did you get this nonsense from your parents?
Chslosers 3 years ago
I guess that a Republican majority must have meant that there were no Democrats in Congress. Is that right? Did you watch the video?
sherwelthlangley 3 years ago
Your an idiot.
Chslosers 3 years ago
Bush as early 2002 pushed easy lending for homes. Barney Frank is fat, arrogant bloviating hypocrite who has NO right pretend to be outraged. Republicans and Democrats wanted to keep this party going. They are equally guilty.
mongobobo 3 years ago
That would be "you're." Check your spelling next time you call someone an idiot, otherwise it tends to make you look like one yourself.
jrs4286 3 years ago
I just seen a poll a couple weeks ago on how alot of voters blamed the republicans for the financial mess...lol and they were voting democratic this election. Surprising, how so many people are clueless and think things will get better with a democratic government, they have another thing comming.
CincyDude 3 years ago 3
Its real sad but very true. Its no coincidence that our economy started to plummet once the Dems took control of Congress in '06 (The Dow Jones had 2 booming years in 2000 & 2006, both before the Democrat Congress came in late-06) but the media would never put 2-and-2 together. If people only weren't so naive and blinded by empty rhetoric by the media & the Obama campaign. Its even worse that theres literally documented evidence & people STILL deny it! But we'll see what Mr. O has to offer us...
Camelnooma 3 years ago 2
you fucking cock suckin lyin fag!!!!!!!!!!!!!!
unladylike1980 3 years ago
Barney Frank needs to be hung from a tree for treason.
stjdavis 3 years ago 5
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* Planting Seeds of Disaster by S. Kurtz ACORN, Barack Obama, and the Democratic party.
ChipsShot 3 years ago
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anthony2123 3 years ago
Why does this (the actual facts)not get the coverage that the democrat propaganda (lies blaming everything on the GOP) does?
Neuwo 3 years ago 3
isn't it obvious that barney has made big money off our asses
denarrdo 3 years ago
I'm not a Bush basher. All presidents make mistakes. It's obvious he tried to prevent the Fannie May, Freddy Mac situation long ago.Obama? come on people, are we really ready for this guy? NO!
ourocks2 3 years ago 2
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denzryl 3 years ago
Yes, the Dems and their socialist institutions, Freddie and Fannie, are largely responsible for this mortgage crisis. Bush, also, adopted the Socialist belief that Americans have a right to own a home, so he bears much blame too. Time to get rid of Fannie and Freddie!
illegaldestroyer 3 years ago
Fannie has been around since 1938 & operated successfully. Hard to blame its formation some 70 years later for the financial crisis. Freddie was formed in 1970 under Nixon. The problem is that Bush stopped the Attorney Generals in 50 states from prosecuting predatory lenders. The other problem was the Gramm Leahy Bliley deregulation bill introduced and passed by a Republican Congress.
JohnPurvis 3 years ago
".....problem is that Bush stopped the Attorney Generals in 50 states from prosecuting predatory lenders..."
This shit they feed you people.
Minionuup 3 years ago
Look it up Minionup it is true, Bush through the OCC stopped AGs in 50 states from stopping predatory lenders.
washingtonpostDOTcom/wp-dyn/content/article/2008/02/13/AR2008021302783DOThtml
JohnPurvis 3 years ago
Try as you may. Democrats (new socialists) set this up. It was perfect. Destroy the economy just in time for an election to usher in the next level of re-distribution. Then pound the propaganda into the heads of the sheep. Make them confused on who's to blame. They like easy to read headlines, and watch a lot of sitcoms. Flawless.
Republicans will take the blame because they are pussies with ZERO fight in them.
Minionuup 3 years ago
Minionup you have no facts to back you up your claims. The Republican controlled Congress from 1996-2006 and they did nothing to address the problems. In 1999 the Republicans deregulated the financial markets with the Gramm-Leach-Bliley Act.
JohnPurvis 3 years ago
The repealing of the Glass Steagall Act (google it) in 1999 by President Bill Clinton (Democrat), was actually the MAJOR cause of this crisis. Also when regulators began to look at Fannie Mae's book keeping, they were resisted by the likes of Maxine Waters (democrat), Gregory Meeks (democrat), Artur Davis (democrat)(watch?v=6Rg3LcSNylA). This is, and has always been a leftist scam to bring down capitalism in the United States. You should be ashamed of your self for supporting it.
Minionuup 3 years ago 2