Wednesday, March 11, 2009

First Up, Barney Frank

“Congressman Barney Frank says he wants some of those responsible for our current financial meltdown to be prosecuted. And we couldn't agree more. First up in the court dock: Rep. Barney Frank, D-Mass.” (IBD Editorials) Rep. Barney Frank and Chris Dodd were primarily responsible for the creation (during Jimmy Carter’s presidency) and strengthening (during Bill Clinton’s) of the “Citizen’s Reinvestment Act of 1976” that FORCED bankers and lenders to loan money to people they KNEW could never repay it (shades of “Atlas shrugged”) and created Fannie Mae and Freddie Mac to buy up those bad loans to stave off the consequences until they could use them to win an election. It was Barney and Chris who “stood in the door” every time Bush tried (12 times) to do something about it. They keep blaming the lending industry for OBEYING that law while it was THEIR machinations (behind the scenes) that CAUSED the “economic crunch.” So if those responsible for it are prosecuted, Barney and Chris should be “first in line” to be questioned and prosecuted. Unfortunately, they seem to be at the forefront of PROSECUTORS. Go figure. Only in government does the CRIMINAL get to give the VICTIM the "third degree." (IBD Editorials)

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