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Blog: Barney Frank Speaks Frankly About Fannie and Freddie


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Barney Frank, during a Fox Business interview focused on the Fannie and Freddie mess said, "They should be abolished." Hmmm. That can't be Barney, can it? Perhaps he misspoke? Oh wait, he also said, "There were people in this society for economic and, frankly, social reasons, that can't and shouldn't be homeowners. I think we should particularly stop this assumption that you put everybody into homeownership." Those words came out of Barney Frank's mouth--the number one inflator of the housing bubble and lead cheerleader for the virtually unlimited expansion of Fannie's and Freddie's mission? Really? Still not convinced? Hold on, there's one more quote. "Public policy has been too much to try to push people into homeownership."

You really cannot make this stuff up.

Mind boggling, isn't it. The chief architect of the Democrat policy to push people into homeownership just said that there was a misguided policy to push people into homeownership. Yep, the person and party who forced lending institutions to lower their credit standards (Community Reinvestment Act) and who refused to dramatically reform the wildly out of control Fannie and Freddie, despite continual protestations from the Republicans, now says, rather of matter-of-factly, with no hint of culpability/responsibility, that Fannie and Freddie should be abolished. Wow! That's pretty darn shameless, even for Barney and his Democrat colleagues.

Could it be any clearer that the Democrats should be kept as far away as possible from economy's steering wheel ? Let's elect people who have the understanding and discipline necessary to clean up the mess and put us back on the path to prosperity for all.

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