I wasn't teaching you opinion. You made a claim, and I countered it with fact and you got your butt hurt.

We had a crash in 2008.....and under Obama's watch, he did a bank bailout that would put us where we are RIGHT NOW. He could have helped us recover, but instead he shoveled more money into a rat hole.

Bush and Republican Congress had a chance to correct the problems presented by the Fannie Mae/Freddie Mac mess that the lovely Bawney Fwank and Chris Dodd helped foster. They didn't and opted to pander for more votes.

Obama and a Democrat Congress had an opportunity to put measures in place to correct some serious economic issues and instead opted for blowing it up further to satisfy their vision for how America should be reshaped. Now we find ourselves in a huge mess.

Neither side has done much to help America.

Bush and Republican Congress had a chance to correct the problems presented by the Fannie Mae/Freddie Mac mess that the lovely Bawney Fwank and Chris Dodd helped foster. They didn't and opted to pander for more votes.

"In 2004, it was Bush who started to push Fannie and Freddie into subprime mortgages, because they were boasting about how they were expanding homeownership for low-income people. And I said at the time, 'Hey — (a) this is going to jeopardize their profitability, but (b) it's going to put people in homes they can't afford, and they're gonna lose them.'"

In 2009 Frank responded to what he called "wholly inaccurate efforts by Republicans to blame Democrats, and [me] in particular" for the subprime mortgage crisis, which is linked to the financial crisis of 2007–2009. He outlined his efforts to reform these institutions and add regulations, but met resistance from Republicans, with the main exception being a bill with Republican Mike Oxley that died because of opposition from President Bush. The 2005 bill included Frank objectives, which were to impose tighter regulation of Fannie and Freddie and new funds for rental housing. Frank and Mike Oxley achieved broad bipartisan support for the bill in the Financial Services Committee, and it passed the House. But the Senate never voted on the measure, in part because President Bush was likely to veto it. "If it had passed, that would have been one of the ways we could have reined in the bowling ball going downhill called housing," Oxley told Frank. In an op-ed piece in the Wall Street Journal, Lawrence B. Lindsey, a former economic adviser to President George W. Bush, wrote that Frank "is the only politician I know who has argued that we needed tighter rules that intentionally produce fewer homeowners and more renters." Once control shifted to the Democrats, Frank was able to help guide both the Federal Housing Reform Act (H.R. 1427) and the Mortgage Reform and Anti-Predatory Lending Act (H.R. 3915) to passage in 2007. Frank also said that the Republican-led Gramm–Leach–Bliley Act of 1999, which repealed part of the Glass–Steagall Act of 1933 and removed the wall between commercial and investment banks, contributed to the financial meltdown. Frank further stated that "during twelve years of Republican rule no reform was adopted regarding Fannie Mae and Freddie Mac. In 2007, a few months after I became the Chairman, the House passed a strong reform bill; we sought to get the [Bush] administration's approval to include it in the economic stimulus legislation in January 2008; and finally got it passed and onto President Bush's desk in July 2008. Moreover, "we were able to adopt it in nineteen months, and we could have done it much quicker if the [Bush] administration had cooperated."

Fannie Mae and Freddie MacIn 2003, while the ranking minority member on the Financial Services Committee, Frank opposed a Bush administration proposal, in response to accounting scandals, for transferring oversight of Fannie Mae and Freddie Mac from Congress and the Department of Housing and Urban Development to a new agency that would be created within the Treasury Department. The proposal, supported by the head of Fannie Mae, reflected the administration's belief that Congress "neither has the tools, nor the stature" for adequate oversight. Frank stated, "These two entities ...are not facing any kind of financial crisis ... The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing."[62] In 2003, Frank also stated what has been called his "famous dice roll":[63] "I do not want the same kind of focus on safety and soundness [in the regulation of Fannie Mae and Freddie Mac] that we have in the Office of the Comptroller of the Currency and the Office of Thrift Supervision. I want to roll the dice a little bit more in this situation towards subsidised housing."[64]

Its funny how you never hear Clinton's name yet his actions opened the door even further for this disaster.

Frank also said that the Republican-led Gramm–Leach–Bliley Act of 1999, which repealed part of the Glass–Steagall Act of 1933 and removed the wall between commercial and investment banks, contributed to the financial meltdown. Frank further stated that "during twelve years of Republican rule no reform was adopted regarding Fannie Mae and Freddie Mac

during twelve years of Republican rule no reform was adopted regarding Fannie Mae and Freddie Mac

Republican-led Gramm–Leach–Bliley Act of 1999

I guess i should have done just one sentence at a time so you could comprehend..

You started out blaming Frank and the democrats now it was republicans who voted on it
(90 votes during a republican majority)..... And then when in charge for 12 years did nothing about it...Hmmmm, how blind are you.

Barney Frank tried to stop the bleeding and W and his bankers would not hear of it. The bills were listed.(Oh and lets not pretend Bush didn't have the bankers on his staff or Enron for that matter)

Also what has also been explained to you is that you guys bad mouth Obama for not having experience (He was a senator) but some how Herman Cain is the man with zero experience..Well he did lose a campaign once...That would make a great president.



Just like all teabaggers you guys are all over the place.


Oh and and just before the country had the worst collapse in it's history it was W who said the economy is in great shape...Well he also said mission accomplished before the war was near being over.Or was that pandering too.

You started out blaming Frank and the democrats now it was republicans who voted on it
(90 votes during a republican majority)..... And then when in charge for 12 years did nothing about it...Hmmmm, how blind are you.

Also what has also been explained to you is that you guys bad mouth Obama for not having experience (He was a senator) but some how Herman Cain is the man with zero experience..Well he did lose a campaign once...That would make a great president.

Oh and and just before the country had the worst collapse in it's history it was W who said the economy is in great shape...Well he also said mission accomplished before the war was near being over.Or was that pandering too.

Oh and Rich how surprised were you about the claim it was from a biased source only to find out it was from the same source you yourself used

8 of the 9 Nay votes were who?...But the republicans are not responsible?

Perhaps one of the most pathetic posts I've ever seen on these boards. Sounds like it was written by a 12 year old who thinks he can take bits of trivia and somehow weave it into a narrative that makes sense.

Not even worth debating because you take MSNBC talking points and act as though they qualify you as informed.

In BusinessWeek.com, Maria Bartiromo reports that she asked the former President last week whether he regretted signing that legislation. Mr. Clinton’s reply: “No, because it wasn’t a complete deregulation at all. We still have heavy regulations and insurance on bank deposits, requirements on banks for capital and for disclosure. I thought at the time that it might lead to more stable investments and a reduced pressure on Wall Street to produce quarterly profits that were always bigger than the previous quarter.
“But I have really thought about this a lot. I don’t see that signing that bill had anything to do with the current crisis. Indeed, one of the things that has helped stabilize the current situation as much as it has is the purchase of Merrill Lynch by Bank of America, which was much smoother than it would have been if I hadn’t signed that bill.”

He thinks Fannie/Freddie and the repeal of Glass-Steagall have something to do with each other.

Barney Frank blatanly lied about Fannie and Freddie's troubles, strong armed banks to lend the money to unqualified borrowers, received sizeable campaign contributions from Fannie, and happened to be dating a guy who was working with Fannie at the time. Seriously, a little bit of homework goes a long way.

The best part is the tea baggers remark. When you resort to that you lose all credibility because your objective is not to discuss but rather simply dismiss other points of you.

"If it had passed, that would have been one of the ways we could have reined in the bowling ball going downhill called housing," Oxley told Frank. In an op-ed piece in the Wall Street Journal, Lawrence B. Lindsey, a former economic adviser to President George W. Bush, wrote that Frank "is the only politician I know who has argued that we needed tighter rules that intentionally produce fewer homeowners and more renters." Once control shifted to the Democrats, Frank was able to help guide both the Federal Housing Reform Act (H.R. 1427) and the Mortgage Reform and Anti-Predatory Lending Act (H.R. 3915) to passage in 2007. Frank also said that the Republican-led Gramm–Leach–Bliley Act of 1999, which repealed part of the Glass–Steagall Act of 1933 and removed the wall between commercial and investment banks, contributed to the financial meltdown. Frank further stated that "during twelve years of Republican rule no reform was adopted regarding Fannie Mae and Freddie Mac.

Lawrence B. Lindsey, a former economic adviser to President George W. Bush, wrote that Frank "is the only politician I know who has argued that we needed tighter rules that intentionally produce fewer homeowners and more renters."

I used it on purpose to demonstrate that you pick and choose what is convenient for your argument. You're not interested in intelligent discussion or fact.

You must be an ex-ACORN employee.

Who said Republicans weren't responsible?

You're the ones saying they were SOLELY responsible.

It is a shared responsibility, unlike the Obamacare monstrosity.

That is an insult to 12 year olds. I'm also starting to wonder if Kev is Michael Moore.

"I'm not one of the 1%!

But you're worth $30 - $50 million.

Uh...that's not true! I am not one of the 1%!!".



He thinks Fannie/Freddie and the repeal of Glass-Steagall have something to do with each other.

Bill Clinton on the repeal of Glass-Steagall.



Doh! The most popular, effective Democrat president this side of FDR doesn't blame the bill sponsored by Republicans (and supported by a majority of Democrats and a Democrat president).

Will Kev turn on one of his heroes? Stay tuned for the next episode of "Jersey Shore".

http://hotair.com/archives/2008/10/01/t ... all-dodge/

The best part is you resort to MSNBC remarks..How pathetic are you....You have no basis..I did not quote MSNBC.MSNBC has nothing to do with it..But thats what you fox news people do..

And if you could read you would understand what Frank did. i posted it 3 times but you are lost in a fox news fog over contributions...Like Enron didn't contribute to Bush and his boys..


[b]Frank blatanly lied about Fannie and Freddie's troubles, strong armed banks to lend the money to unqualified borrowers[/b]

So where are these lies ? You have produced none.

Hello Mcfly...

Can you please understand that the Community Reinvestment Act which Frank used to pressure banks to grant easier loan access is different from the Glass Steagall Act, which was repealed but a bi-partisan majority, including Frank's partner in crime, Chris Dodd, who you generously pointed to voting in favor of the repeal.

Frank stood up in front of Congress in 2004 and said Fannie and Freddie were not in trouble. That is called a lie. Merriam Webster can help if you still don't understand it.

Quote:
Oh and and just before the country had the worst collapse in it's history it was W who said the economy is in great shape...Well he also said mission accomplished before the war was near being over.Or was that pandering too.


And this has to do exactly what with anything?

So when Bush said mission accomplshed was that a lie?

When Bush said the economy was doing fine just before historic collapse. was that a lie?

Understand Rich?

This is the 2nd time.....


Do we need to slow down for you here?