Thursday, June 25, 2009

Frank strikes again?

When Republicans were warning that Fannie Mae and Freddie Mac were in big trouble and needed reform Barney Frank said no. Actually, he accused the Republicans of racism. As usual that charge stopped all debate in its tracks. Instead of being condemned for his complicity in the housing bubble collapse Rep. Frank is the Democrats' and hence the nations' point man for the crisis. With an excess of confidence and an utter lack of shame old Barney is doing his best to inflate another housing bubble. Believe it or not Rep. Frank wants Fannie and Freddie to lower credit standards for condo buyers. The economy hasn't even recovered from the subprime meltdown and he wants to make the same mistake again. Just because there is a glut of condos doesn't mean the Federal government should step in and demand lower lending standards. If Rep. Frank is so blinded by his ideology that he insists on making the same mistakes over and over it's time he be stripped of his duties. The country simply can't afford his incompetence.

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