Let’s Be Frank About Frank – Keith Miller
August 7th, 2009
Since 1981 Massachusetts Democrat Barney Frank has been in Congress perpetually advocating expanding expensive government programs. From 1991 to 1998 Frank, laid the seeds of our current economic meltdown by pushing for reduced restrictions on mortgages supported by Fannie Mae where Frank’s romantic partner Herb Moses was an executive. For 27 years Frank did nothing to coral this monster and opposed efforts to rain it in.
In 2003, while the ranking Democrat on the Financial Services Committee, Frank opposed Bush administration reforms of Fannie Mae and Freddie Mac. The administration claimed Congress has “neither has the tools, nor the stature” for adequate oversight. Frank claimed “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.”
In 2007 Democrats became the majority party in Congress and Frank was elevated to chair the House Financial Services Committee. He began pushing reform, but despite Democratic Control of Congress nothing was passed until July 2008. On July 14, Frank claimed, “I think this is a case where Fannie and Freddie are fundamentally sound, that they are not in danger of going under. … I think they are in good shape going forward.” Within weeks “fundamentally sound” proved to be completely wrong. The economy reaped the seeds of disaster when the sub prime “affordable housing” bubble burst dragging down all in its wake. Today, Fannie and Freddie are wards of the tax payer to the cost of $400 billion dollars.
Now Frank and the Democratic controlled White House and Congress are advocating a single payer universal health care public option claiming it will save money. When the non-partisan Congressional Budget Office said the proposed single payer public option would cost over a trillion dollars, Frank responded “I’m for single payer … I would not accept anything less than a very vigorous public option.”
Post partisan President Barack Obama blames the economy on his predecessors. “That was gift-wrapped and waiting for me. … I don’t want the folks who created the mess do a lot of talking. I want them to get out of the way so we can clean up the mess. I don’t mind cleaning up after them, but don’t do a lot of talking.”
President Obama, today’s problems were created by politicians from both parties claiming you could get something for nothing. Bush is gone. Democrats control the White House and Congress, so the only people you need talk to are your own kith and kin, like Frank. Please stop listening to those demanding we compound our current economic woes with new unaffordable government programs.
Fool me once shame on you, fool me twice shame on me.
Please stop spending money and taking over chunks of the US economy. You force us to pay taxes. Don’t increase them or take away our freedom to choose what we do with our shrinking after tax income.
Tags: Barney Frank, Ridgefield, Ridgefield RTC, taxes