Posts Tagged ‘Home Mortgages’
How come no one has booted Barney Frank from his position as Chair of the House Financial Services Committee?
No Pinheads asked:
In September 2003, Frank, then the ranking Democrat on the Republican-led Financial Services Committee, opposed Bush administration proposals for transferring oversight of Fannie Mae and Freddie Mac by creating an independent agency to supervise. The proposal would have moved oversight from Congress and the Department of Housing and Urban Development to the new agency. Frank stated in 2003, “The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.”[30] Frank stated that the bill would potentially “[weaken] the bargaining power of poorer families and their ability to get affordable housing”
And his “boyfriend” was instrumental in crafting todays collapse.
Frank’s former partner, Herb Moses, was an executive at Fannie from 1991 to 1998, where Moses helped develop many of Fannie’s affordable housing and home improvement lending programs. In 1991, Frank pushed for reduced restriction on two- and three-family home mortgages.[39] Frank and Moses’ relationship ended around the same time Moses left the company; Frank’s support of Fannie and Freddie predated and continued past that relationship
In September 2003, Frank, then the ranking Democrat on the Republican-led Financial Services Committee, opposed Bush administration proposals for transferring oversight of Fannie Mae and Freddie Mac by creating an independent agency to supervise. The proposal would have moved oversight from Congress and the Department of Housing and Urban Development to the new agency. Frank stated in 2003, “The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.”[30] Frank stated that the bill would potentially “[weaken] the bargaining power of poorer families and their ability to get affordable housing”
And his “boyfriend” was instrumental in crafting todays collapse.
Frank’s former partner, Herb Moses, was an executive at Fannie from 1991 to 1998, where Moses helped develop many of Fannie’s affordable housing and home improvement lending programs. In 1991, Frank pushed for reduced restriction on two- and three-family home mortgages.[39] Frank and Moses’ relationship ended around the same time Moses left the company; Frank’s support of Fannie and Freddie predated and continued past that relationship
http://en.wikipedia.org/wiki/Barney_Frank
With Obama more of the same old politics, so much for the change he lied about to get elected.