Please, McLame tried to bring a bill up in 2005 that would have put the kibosh on Fannie and Freddie and it was never brought up for a vote in the Senate. Now Barney Frank is trying to accuse the GOP of being Racists. The Massachusetts Democrat, chairman of the House Financial Services Committee, said the GOP is appealing to its base by blaming the country's mortgage foreclosure problem on efforts to expand affordable housing through the Community Reinvestment Act.
"They get to take things out on poor people," Frank said at a mortgage foreclosure symposium in Boston. "Let's be honest: The fact that some of the poor people are black doesn't hurt them either, from their standpoint. This is an effort, I believe, to appeal to a kind of anger in people."
What a louse, and yet he is part of the crafty bailout team. Stiglitz has it right. This bailout won't work, now what is the plan???
I can't wait for all the govt employees, Local, State, and Federal to find out that their pensions are gone too.
Edited by alicex4 (10/07/08 07:35 PM)