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Barney Frank voices support for Fannie/Freddie bailout

 
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PostPosted: Mon Jul 14, 2008 1:10 pm GMT    Post subject: Barney Frank voices support for Fannie/Freddie bailout Reply with quote

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Description: Barney Frank voices support for Fannie/Freddie bailout
URL: http://www.boston.com/realestate/news/articles/2008/07/14/us_tries_to_rescue_mor ...truncated...
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PostPosted: Mon Jul 14, 2008 5:55 pm GMT    Post subject: Reply with quote

One minute Barney rails against a bailout,
next minute he is 100% behind the bailout.


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PostPosted: Mon Jul 14, 2008 6:10 pm GMT    Post subject: Reply with quote

Anonymous wrote:
One minute Barney rails against a bailout,
next minute he is 100% behind the bailout.


I'm shocked Exclamation Exclamation Exclamation
.


I don't think that he was railing against a bailout itself, he was mocking the perceived naivety of the constituent who expressed concern that Fannie Mae was in a precarious position and would need to be bailed out in the not too distant future. Unfortunately, even though he has now been proven wrong, he is persisting in pushing policies crafted under those previous assumptions. The housing bailout bill hasn't passed yet, but the failure of Fannie and Freddie doesn't appear to have sent the House Financial Services Committee back to the drawing board as Frank is still pushing the old fix.

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