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Barney Frank On Whether There Is A Chance The US Will Be Put Into Default: "Yes"

Tyler Durden's picture




 

Barney Frank, fresh from being caught on live TV picking his nose during Bernanke's Humphrey Hawkins presentation, had a decidedly more sour outlook on the prospects for the debt ceiling. Spoiler alert: in tried and true fashion, the drama king blamed it all on the stupidity and inexperience of republicans. Asked when there is a chance the US will be put into default: "Yes. I take the freshmen republicans and people like Michelle Bachmann
at their word
. I don't think they're kidding. I think they fundamentally
misread this situation as Bernanke, a Bush appointee after all, made
clear today. I think there are people that frankly have an unreal view
of the world. They believe that this is somehow a fake and that you can
push a button and make a lot of these debts go away.
I believe there are
a substantial number of Republicans who are opposed to a huge debt and a
further group of Republicans who understand why it's important to raise
the debt limit, but are afraid of losing a primary to someone." Recapping Frank's view: why deal with a problem under my tenure, when very soon there will be a congressman who will replace me and he, or more likely she, can deal with the sordid mess I created. And this is not even counting the trillions in GSE off-the-books debt of which Frank was one of the key people responsible for letting it be the catalyst that blew up the credit bubble when Fannie and Freddie were nationalized just under 3 years ago.

From Bloomberg TV:

Other interview highlights:

Frank on the debt negotiations and whether there's a chance the United States will be put into default:

"I think there is a very real chance that the unrealistic view of many of these new right- wing Republicans and those who are intimidated by them could vote no."

On Bernanke's economic assessment today:

"I was encouraged by much of what [Bernanke] said. First of all, he made it clear that the economy is doing well and then he talked about that we're retarding the growth. Every one of those things are outside of the president's control. The Greek debt crisis, the Japanese earthquake/tsunami, the Libyan revolution -- these are things that are not under our control that cause problems for us."

"I was very pleased that he very thoughtfully drew a distinction between the need to have over the longer term serious debt reduction, but the danger of cutting too much into short term. He talked about the headwinds that are retarding the economy and he said excessive fiscal tightening. We have lost -- since the middle of 2009 -- half a million jobs in the public sector. Those are not faceless statistics. Those are public works people who clean the streets. Those are police officers, firefighters, etc. I thought it was important that he said, one, we have to reduce the deficit over the long term. and number two, it would be a calamity if we did not raise the debt limit. And three, separate out the importance of a longer-term binding debt reduction framework, but not exacerbating the obstacles to recovery by cutting too deeply in the next few months."

On whether he would like to see some version of a QE3:

"That's not my first choice. My first choice would be for Congress to act in a reasonable way. For example, let's provide some money in the short term to cities and towns so they can undo some of those cuts. Put people back who would provide important public services, etc…The critics of QE1 and QE2 who said it was going lead to inflation, it would cost the federal government money, have absolutely been proven wrong. If we needed a third round, I would be for it. I would hope, however, I think we have done enough with monetary policy, fiscal policy should come first."

On Dodd-Frank and critics like Jamie Dimon and Peter Wallison:

"Mr. Wallison is Johnny one-note and a one man band. He was one of four Republicans on the Financial Inquiry Crisis Commission and he would up attacking the other three. He is all by himself in thinking it was not Lehman Brothers or AIG or derivatives. As to Fannie Mae and Freddie Mac, the Democratic Congress working with Hank Paulson put them into conservatorship in 2008 and according to the Bush appointees, we are not losing money on them.

"Jamie Dimon, I wish he had measured the damage that was being done by the policies beforehand rather than our efforts to correct it."

 

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Wed, 07/13/2011 - 15:47 | 1453240 carbonmutant
carbonmutant's picture

Obama must want something...

and the democrats are using fear to sell it...

Wed, 07/13/2011 - 15:51 | 1453262 Whizbang
Whizbang's picture

Not just obama. Deficit spending is now baked into the balance sheets of the world's largest corporations. Without the subsidies, tax breaks, etc. they are all in a lot of trouble. Fortunately for them, they own the u.s. and it's current regime. Have no fear, the debt cieling will be raised.

Wed, 07/13/2011 - 15:53 | 1453272 camaro68ss
camaro68ss's picture

Barny Frank is Fucking retarted, everytime he talks he slobers all over himself

Wed, 07/13/2011 - 16:01 | 1453305 King_of_simpletons
King_of_simpletons's picture

First of all, he made it clear that the economy is doing well

 

A lie right there. Whose economy ?

Thu, 07/14/2011 - 00:25 | 1453346 Shocker
Shocker's picture

Whats really funny, is this is the first time its actually getting national news that the US may Default. Before this all we have heard was Recovery, things are good, Jobs numbers are good....

Most people know, that the economy is still in rough shape. Its sad, but i guess its reality

 

Wed, 07/13/2011 - 16:10 | 1453348 Burgess Shale
Burgess Shale's picture

Barney Frank is the preeminent poster boy for term limits.

Wed, 07/13/2011 - 17:42 | 1453767 gmrpeabody
gmrpeabody's picture

THE biggest puke in Washington!

Thu, 07/14/2011 - 07:21 | 1455353 Thomas
Thomas's picture

During the Salem witch trials, one man who was convicted and having stones placed on his chest to crush him to death--the preferred method contrary to popular notions of burning--was reputed to have said in defiance, "More stones!" I believe he meant "more government".

Wed, 07/13/2011 - 16:11 | 1453351 Sudden Debt
Sudden Debt's picture

THE Chinese economy. Is there any other that really matters?

 

Wed, 07/13/2011 - 16:22 | 1453405 DaveyJones
DaveyJones's picture

Barney put us in the rubble

Wed, 07/13/2011 - 16:15 | 1453359 Pegasus Muse
Pegasus Muse's picture

"...in tried and true fashion, the drama queen blamed it all on the stupidity and inexperience of republicans."

Wed, 07/13/2011 - 16:25 | 1453419 Danks18
Danks18's picture

Oh yeah, crocodile tears orange man Boehner and crazy eyes Bachmann are paragons of statesmanship in comparison.  See, it's easy to diss physical characteristics, dummy.  Your car looks like a mid-life crisis on wheels.  Get a life.

 

Wed, 07/13/2011 - 17:56 | 1453824 CompassionateFascist
CompassionateFascist's picture

Barney needs a new bedmate....his sig other spends too much time trawling the playgrounds. Danks18 1st in line.

Wed, 07/13/2011 - 19:07 | 1454045 Danks18
Danks18's picture

Wow.  Two references to homosexuality and a pedophile "joke" all rolled into one.  I don't know whether I upset you or turned you on.  Either way, CompassionateFascist's got c*ck on the brain.  Back to your fantasies of men in line couso.  

Wed, 07/13/2011 - 17:57 | 1453829 buck4free
buck4free's picture

...mid-life crisis on wheels...

 

Fuck. That was a goodie.

Wed, 07/13/2011 - 16:42 | 1453496 nope-1004
nope-1004's picture

Barney Frank not answering the question, again!

http://www.youtube.com/watch?v=k0ZcVsVTPrQ

Wed, 07/13/2011 - 19:21 | 1454089 Danks18
Danks18's picture

Also.  What's up with 9 junks in three hours!?!  Camoron68ss got 1 in 3+  hours.  We must not be allowed to say anything bad about Republicans on here.

Bachmann is a whitey white.  Why doesn't she come out to Rockaway for a rally?  Check out her urban support.  Hey Cantor and P Ryan.  You are invited too.    

Wed, 07/13/2011 - 21:07 | 1454488 derryb
derryb's picture

something tells me that is not "slobber"

Wed, 07/13/2011 - 21:56 | 1454660 Chuck Walla
Chuck Walla's picture

That wasn't a sour look, that was Bawney working the semen out of the gaps in his gums.

Wed, 07/13/2011 - 22:20 | 1454744 Cistercian
Cistercian's picture

 I am nauseous from antibiotics....and that nearly made me puke.

  But it barely exceeds the outrage when fwanki says the statistics have faces....and then panders to his base.

   Perhaps a better title for the article would be "Bawnee....still pure EVIL....and loving it!"

Wed, 07/13/2011 - 16:33 | 1453454 cougar_w
cougar_w's picture

Must want something? You mean, like re-election?

It's going to be nothing but panem et circenses until the end of 2012.

And at the current rate the country might not even hold together until the end of 2011.

Wed, 07/13/2011 - 19:41 | 1454183 sun tzu
sun tzu's picture

Barney Frank and Timmy Geithner are fucking morons. There is more than enough money coming into the treasury each month to pay the interest on debt and SS checks. After that, they might have to start cutting other programs. 

 

 

Wed, 07/13/2011 - 15:49 | 1453249 Mae Kadoodie
Mae Kadoodie's picture

He did pick his nose, didn't he?  A quick hook.  Cheeky monkey.

Wed, 07/13/2011 - 18:09 | 1453863 knukles
knukles's picture

Oh for Kreeeeist's sakes, let's be fair.
A lot of us pick our noses.
And get caught.

The bigger, more salient, telling, Freudian question is....

Did he eat it or save it for later?

That, my little crocodilian friends, is of paramount importance. 
Is he a real man's man? 

Thu, 07/14/2011 - 01:12 | 1455093 Problem Is
Problem Is's picture

I think he's drunk... 8 martini lunch...

Hey... Doesn't Barney look just like Uncle Billy from its a Wonderful Life??

You know... the one that lost $10k in cash, bankrupted the Baily Savings & Loan that sent George to jail when he wouldn't fess up??????

Wed, 07/13/2011 - 15:48 | 1453250 DonnieD
DonnieD's picture

So I've had it backwards all along, politicians actually do what's fiscally prudent to get reelected. And I thought they spent money they didn't have to get reelected. Silly me. Thanks for straightening that out, Barney.

Wed, 07/13/2011 - 16:20 | 1453386 whstlblwr
whstlblwr's picture

Yes, and to people who think election not important,

Frank words: I believe there are a substantial number of Republicans who are opposed to a huge debt and a further group of Republicans who understand why it's important to raise the debt limit, but are afraid of losing a primary to someone."

"Afraid of losing primary."

We have power, if we use it. If you not like debt ceiling increase, you can let your congresspeople know. Call or leave comment on comment line.

politics1.com

Wed, 07/13/2011 - 17:16 | 1453652 fuu
fuu's picture

"Afraid of losing primary."  has very little to do with the voters. It has to do with who will shovel money into the campaign. if the big boys dont back you then you don't get elected.

Wed, 07/13/2011 - 18:10 | 1453865 knukles
knukles's picture

Fuck me.
Spot on!

Winning or loosing a primary no longer has squat to do with the voters!

Wed, 07/13/2011 - 19:04 | 1454012 whstlblwr
whstlblwr's picture

Another lazy on ZH who acts like he know something too lazy to look for self. Why don't you look and see there are many elected that have less money. If you not so lazy to lift your finger and press on keys for search. Many, many candidates win without top money. You not need money to win, just supporters. It's why Ron Paul can win. If spend 10 minutes, can give you list of candidate who beat with no money.

Money said poor predictor of candidate’s nomination

By Donald Lambro
The Washington Times
July 20, 2007

Recent political history shows that Democratic presidential contenders who lead the pack at the start of the fundraising race often lose the early caucuses and primaries.

This is the cautionary tale being discussed by campaign strategists for some of the top- and second-tier Democratic candidates as well as by veteran election analysts and fundraisers who think the press has exaggerated the importance of who is ahead in the money race - long considered the mother's milk of politics.

Ask Joe Trippi, the campaign manager for former Vermont Gov. Howard Dean in the last presidential election. At this point in the 2004 election cycle, Mr. Dean was the fundraising leader and appeared to be the prohibitive favorite for the nomination.

Although Mr. Dean led his rivals in the money-raising contest right up until the end of 2003 and just days before the Iowa caucuses, he was defeated by Sen. John Kerry of Massachusetts, who went on to win the nomination.

"Historically, the amount of money raised in the preprimary cycle has not been a good indicator of who wins the nomination," said Mr. Trippi, an adviser to former Sen. John Edwards of North Carolina.

Thu, 07/14/2011 - 00:06 | 1454999 fuu
fuu's picture

A $9.0 billion per cycle industry is not about the voters, it is about the customers signing the checks.

Puff pieces without links, sources, charts, or graphs quoting long time Democratic party insiders who charge $750,000/year does not change the reality of the matter. Look who Joe Tippi helped get elected. The current Greek leader, the current leader of Italy, Tony Blair, and Jerry Brown. None of these people were behind in money, Joe isn't cheap.

You could have just linked the article. Hell you can see that the article is full of shit if you read past the first 5 paragraphs you linked.

"In 1984, former Vice President Walter Mondale had all the money in the world and a guy by the name of Gary Hart, who had message and not much money at all, beat him in the primaries and actually won more convention delegates. It took the party's superdelegates to put Mondale over the top," he said.

Do you see it?

"As of this month, Sen. Barack Obama of Illinois led Sen. Hillary Rodham Clinton of New York in the money race, $58.5 million to $52.5 million. Mr. Edwards is in third place with $23 million raised."

Do you see it here?

Have you ever been involved with primaries? Have you ever sat in the school classroom where your precinct elects a president, vice president, secretary, and delegates to the county level? Have you then gone on to sit in the county convention while the county elects it's delegates and alternates? Have you then sat at the state convention and watched the election of your national delegates get hijacked by national party bosses?

If not then I gotta wonder who is "Another lazy on ZH who acts like he know something too lazy to look for self."

Anyway here are the links I used to compile this post.

http://www.opensecrets.org/bigpicture/index.php

http://en.wikipedia.org/wiki/Joe_Trippi

http://www.progressivestrategies.net/pages/money_said_poor_predictor_of_...

Wed, 07/13/2011 - 15:49 | 1453256 caerus
caerus's picture

The critics of QE1 and QE2 who said it was going lead to inflation, it would cost the federal government money, have absolutely been proven wrong.

classic!

Wed, 07/13/2011 - 16:04 | 1453318 dbach
dbach's picture

Just like everyone else there setting policy, he probably doesn't buy his own groceries or fill his gas tank. He also doesn't look at gold as an alternative to money, just like Bernanke, no wonder they get along great!

Wed, 07/13/2011 - 16:13 | 1453366 caerus
caerus's picture

agreed...he sure as hell eats his own groceries though

Wed, 07/13/2011 - 23:25 | 1454905 FreedomGuy
FreedomGuy's picture

Barney Frank is a damned economic idiot. He's also insufferably arrogant. Arrogance and stupidity with government power is the most lethal combination in the universe. He is ground zero for the failure of Fannie and Freddie. His cronies and boyfriends looted and ruined the damned things...and then he got reelected by an ignorant electorate in one of the most leftist states in the union.

He's going standard Democrat/statist/liberal playbook. Everything is the fault of Republicans and those who want more freedom. Need more regs, more gov't, more money, more power, more agencies, more oversite. When that doesn't work...repeat. 

If this was the French revolution his head would roll. We can't even get him unelected. I don't swear much but he's a fucking arrogant moron and the posterboy for what is wrong in America.

Thu, 07/14/2011 - 03:00 | 1455200 InvalidID
InvalidID's picture

 That's what separates those folks in DC from normal functioning human beings. The ability to stand up in front of millions of people and sell the biggest pile of bull shit, all without blinking or laughing.

 Cause if we were all honest with ourselves, you know if you had to say some shit like that on camera you couldn't get through the whole thing without cracking up.

Wed, 07/13/2011 - 15:49 | 1453257 TruthInSunshine
TruthInSunshine's picture

Just one 50 second video example of what a massive liar Barney Frank is, and must watch:

 

Barney Frank Caught Lying About Fannie Mae

 

Wed, 07/13/2011 - 16:00 | 1453302 dbach
dbach's picture

Classic!

Wed, 07/13/2011 - 15:50 | 1453258 carbonmutant
carbonmutant's picture

 Obama signed the Debt limit bill last year, talk about a lack of responsibility...

Wed, 07/13/2011 - 15:52 | 1453263 BeerWhisperer
BeerWhisperer's picture

Well, If I have these markets figured out right, we should get some bad news sometime about now or after the bell.

 

 

Wed, 07/13/2011 - 18:27 | 1453923 Everybodys All ...
Everybodys All American's picture

nice

Wed, 07/13/2011 - 15:52 | 1453264 mayhem_korner
mayhem_korner's picture

Barney...scrape the peanut butter off the roof of your mouth before you speak.   What?  That's not peanut butter?  Oh, sorry...

Wed, 07/13/2011 - 15:54 | 1453282 Logans_Run
Logans_Run's picture

It's sticky alright, but not derived from a legume!

Wed, 07/13/2011 - 16:19 | 1453388 Atomizer
Atomizer's picture

That's not peanut butter.. its his boyfriends testicles pinched between his cheek and gums.

Wed, 07/13/2011 - 16:35 | 1453441 V in PA
V in PA's picture

He's had so much c**k he $hit$ cow tails

http://bakingbites.com/2007/04/homemade-cow-tales-and-cupcakes/

 

Wed, 07/13/2011 - 16:25 | 1453415 JustPrintMoreDuh
JustPrintMoreDuh's picture

Thanks for that visual gang ... now I have to go vomit and then down a litre of Vodka to try and burn it from my mind.

Wed, 07/13/2011 - 15:57 | 1453265 SheepDog-One
SheepDog-One's picture

Hey Barney why dont you leave the political partisan hack shit at the door and quit trying to blame others for yours and everyone elses total failures and/or criminal conduct?

To assert that Bernank is a Bush appointee is meaningless, and if Bernank was an Obama appointee any criticism of him would be called 'racist'...youve been at the center of this clusterfuk for decades as a puppet for all the criminal banksters so fingerpointing at others now wont work, and is quite lame.

Wed, 07/13/2011 - 16:44 | 1453511 A.W.E.S.O.M.-O 4000
A.W.E.S.O.M.-O 4000's picture

Granted. But blaming Fannie and Feddie for this crisis is like blaming Hitler's tailor for the Holocaust. It's just a drop in the bucket.

 

Wed, 07/13/2011 - 18:14 | 1453873 knukles
knukles's picture

No.  He's blaming Barney.  Fan and Fred are but a symptom, an illustration of the problem.... being less than failing, some would say maleficent decision making by our trusted servants

Wed, 07/13/2011 - 19:53 | 1454236 sun tzu
sun tzu's picture

FHA, Fannie and Freddie bought over 70% of the shit loans during the housing bubble. They were Wall street's dumping grounds for toxic debt. They are more like the Heinrich Himmler of this financial holocaust.

Wed, 07/13/2011 - 15:52 | 1453266 chet
chet's picture

A deal is starting to look more questionable.  GOP doesn't have close to a majority to raise the ceiling, so will need lots of Dem votes, but won't give an inch to Dems in negotiations and seem to mean it.

Coming down to Eric Cantor it sounds like.

Maybe its time for the popcorn.

Wed, 07/13/2011 - 19:59 | 1454260 sun tzu
sun tzu's picture

Why should they give an inch? Spending has skyrocketed since 2008. The deficit went from $450B max under Bush to $1.7 trillion under Obama. I though Bush was a crook and fucking retard until Obama fucked it up even worse. 

 

The only solution is to roll back spending to the Clinton era levels adjusted for inflation and repeal the Bush tax cuts. We'll be back to $200B deficits in a heartbeat. End the fucking wars and use Homeland Security to deport illegal immigrants and protect the border. That might save California and a few other states. 

Wed, 07/13/2011 - 15:52 | 1453269 The Axe
The Axe's picture

Barney would lie to his boyfriend, his mother....the good Lord...more likely the Devil...hold on he may be the devil....The people in his district are big buffon's then him...

Wed, 07/13/2011 - 15:53 | 1453274 Cheesy Bastard
Cheesy Bastard's picture

The congressman will clearly go down in the annals of history for his superb oral skills.

Wed, 07/13/2011 - 21:39 | 1454607 I Got Worms
I Got Worms's picture

Did you mean the anals of history?

Wed, 07/13/2011 - 15:53 | 1453276 Translational Lift
Translational Lift's picture

This ass-wipe is nothing more than a mouthpiece for the BANKS!!

Wed, 07/13/2011 - 16:03 | 1453313 baby_BLYTHE
baby_BLYTHE's picture

Not a fan of Limbaugh, but one of the comedians he uses did a pretty sweet parody of "Banking Queen"

click for lolz: http://www.youtube.com/watch?v=a5NrqqK60OI

Wed, 07/13/2011 - 16:19 | 1453389 caerus
caerus's picture

lol perfect

Wed, 07/13/2011 - 16:09 | 1453347 Translational Lift
Translational Lift's picture

Good one....this guy should rot in hell with a rubber doll!!

Wed, 07/13/2011 - 16:30 | 1453440 slewie the pi-rat
slewie the pi-rat's picture

are you new here?  lol! 

Wed, 07/13/2011 - 22:31 | 1454774 Yen Cross
Yen Cross's picture

  Busy but wanted to say hello. yen... Rockem Sockem...

Wed, 07/13/2011 - 15:53 | 1453277 Hedgetard55
Hedgetard55's picture

My guess is Barney spent a lot of late nights in the Adams House pool while an undergrad at Hahvahd. Yea, he was under, all right.

Wed, 07/13/2011 - 16:02 | 1453308 Boston
Boston's picture

Ha!  

For those of us who've heard about the Adams House pool, that's pretty disgusting.

Wed, 07/13/2011 - 15:54 | 1453278 Whatta
Whatta's picture

A drama "king"? Doesn't one need to be a male to be a king?

It is all mere political theater to entertain us as the water heats to boiling.

Wed, 07/13/2011 - 15:55 | 1453283 israhole
israhole's picture

 Bahney Fwank makes me want to puke, so can't watch the vid.  What happened to this country that this assclown isn't running for his life?

Wed, 07/13/2011 - 18:08 | 1453860 CompassionateFascist
CompassionateFascist's picture

Kosher Culture of Death. BF is the archetype, and plenty more like him waiting in the shadows. Next, the Jew-stooge pols will be legalizing pedophilia and bestiality.

Wed, 07/13/2011 - 15:57 | 1453287 There is No Spoon
There is No Spoon's picture

he's pleased with what Bernanke had to say about the economy - sums it all up.

Wed, 07/13/2011 - 15:56 | 1453288 candyman
candyman's picture

I'm so tired of this guys POS  I'll let someone else comment on him.

Wed, 07/13/2011 - 15:57 | 1453289 azzhatter
azzhatter's picture

I noted you mentioned several times that Barney "blew" it. Freudian Slip?

Wed, 07/13/2011 - 15:57 | 1453292 Uncle Remus
Uncle Remus's picture

Barney you ignorant slut.

Wed, 07/13/2011 - 16:27 | 1453430 cougar_w
cougar_w's picture

+1 SNL reference

Wed, 07/13/2011 - 15:58 | 1453294 DonnieD
DonnieD's picture

They must have redrawn his district lines around a mental hospital. There is no other way that he can happen to the rest of us.

Wed, 07/13/2011 - 15:58 | 1453295 azzhatter
azzhatter's picture

I noted you mentioned several times that Barney "blew" it. Freudian Slip?

Wed, 07/13/2011 - 15:59 | 1453299 macholatte
macholatte's picture

Barney Frank is the personification of what's wrong with American politics. He has absolutely no redeemeing characteristics. He looks and sounds like Barney Rubble and dresses like he sleeps in his clothes. He lies with a straight face and when he was in charge of the House Financial Services he was absolutely in the twilight zone. When cornered he gets nasty because he can't hold up any kind of debate on real issues. All he knows how to do is blame someone else for his failings as demonstrated above.

Or did I miss something?

Wed, 07/13/2011 - 16:02 | 1453309 HellFish
HellFish's picture

Nope.  You nailed it.

Wed, 07/13/2011 - 16:26 | 1453390 cougar_w
cougar_w's picture

dup

Wed, 07/13/2011 - 16:26 | 1453421 cougar_w
cougar_w's picture

I would only amend that to mention that Frank -- while all you describe and worse -- is representative of probably 90% of Congress. Americans at the polls went on some kind of stupid-binge for 20 years, and packed the ranks of leadership with self-serving mirror-gazing non-leaders bent on self-promotion and graft.

Wed, 07/13/2011 - 16:33 | 1453455 km4
km4's picture

Nail meet hammer

Wed, 07/13/2011 - 18:33 | 1453947 Everybodys All ...
Everybodys All American's picture

What you missed was how in the hell his constituents can keep voting him back in.

Wed, 07/13/2011 - 16:00 | 1453300 malek
malek's picture

One of the biggest scumbags in Congress...

Wed, 07/13/2011 - 16:00 | 1453301 JuicedGamma
JuicedGamma's picture

Barney we loove yuo!

Wed, 07/13/2011 - 16:01 | 1453307 Bay of Pigs
Bay of Pigs's picture

Barney Frank would stick his grandmother in a microwave if he thought it would win him an election and/or look better on a particular issue.

What a foul smelling human he is. He fuckan reeks.

Wed, 07/13/2011 - 17:21 | 1453676 citta vritti
citta vritti's picture

that’s why they call him the ranking member

Wed, 07/13/2011 - 16:02 | 1453310 TK7936
TK7936's picture

Oh the drama...

Wed, 07/13/2011 - 16:03 | 1453315 slewie the pi-rat
slewie the pi-rat's picture

"Jamie Dimon, I wish he had measured the damage that was being done by the policies beforehand rather than our efforts to correct it."    b. frank

i may take up embroidery!

Wed, 07/13/2011 - 16:04 | 1453319 r101958
r101958's picture

When my income no longer supports the lifestyle I am used to then I reduce my spending. When thieves encounter the same problem they go out and steal some more. It seems our Gov't would rather emulate the latter example. How about doing the same thing normal citizens do Mr Frank. Cut your frigging spending.

Wed, 07/13/2011 - 16:05 | 1453322 Kat
Kat's picture

Is this not the same idiot who was declaring up and down that Fannie and Freddie were fine.  Right before they both "required" us taxpayers to bail their asses out?

Somebody put this guy away into the moron retirement home and put him out of his misery.

Wed, 07/13/2011 - 16:05 | 1453323 kito
kito's picture

"First of all, he made it clear that the economy is doing well and then he talked about that we're retarding the growth."

 

somebody help me with this please???


Wed, 07/13/2011 - 16:13 | 1453363 cougar_w
cougar_w's picture

He was admitting he is a retard.

Wed, 07/13/2011 - 16:07 | 1453333 ffart
ffart's picture

Dog and pony show.

Wed, 07/13/2011 - 16:48 | 1453525 nope-1004
nope-1004's picture

Dog and pound show.

 

Wed, 07/13/2011 - 16:56 | 1453558 Cheesy Bastard
Cheesy Bastard's picture

Dog and phony show.

Wed, 07/13/2011 - 16:08 | 1453338 New_Meat
New_Meat's picture

"... the drama king banking queen blamed it all..."

Fixed if for ya.

http://www.youtube.com/watch?v=-CT6HIDPbPc

- Ned

{dang, another ear-worm}

Wed, 07/13/2011 - 16:11 | 1453355 Franken_Stein
Franken_Stein's picture

 

The problem is this:

 

Can Barney Frank not afford a dentist to correct his obvious dental issues ?

Or is he too afraid ?

 

Wed, 07/13/2011 - 16:12 | 1453357 cougar_w
cougar_w's picture

What a tool.

Wed, 07/13/2011 - 16:14 | 1453358 Sudden Debt
Sudden Debt's picture

If every unemployed took on more debt and spends it like he's got a 300K job, all his problems would go away like *click* that!

This is what Berny is trying to explain to everybody!

Doesn't everybody understand this? JEEeeezZZZz, GET A PHD YOU DUMBFUCKS!

 

Wed, 07/13/2011 - 16:14 | 1453369 km4
km4's picture

Ron Paul Exclusive: Who’s Regulating Washington?

http://goo.gl/f5HED

money quote from Ron Paul....

“We have drifted because we had so much prosperity, but we can’t drift forever. We can’t live on borrowed money and printed money forever "

Wed, 07/13/2011 - 16:14 | 1453372 sbenard
sbenard's picture

Barney Baloney! What happened to his purple suit -- the one with the (even bigger) head?

Wed, 07/13/2011 - 16:15 | 1453375 Gringo Viejo
Gringo Viejo's picture

"I think there are people that FRANKLY, have an unreal view of the world."

 

SERIOUSLY Freudian? You make the call.

Wed, 07/13/2011 - 16:15 | 1453376 johnnymustardseed
johnnymustardseed's picture

WASHINGTON — The Senate Republican leader, Mitch McConnell of Kentucky, warned Wednesday that allowing a federal default could have disastrous political consequences for his party and “destroy” the Republican brand.

 

REALLY???....HE JUST FIGURED THAT OUT??? TWO FUCKING WARS AND A BUNCH OF UNPAID FOR TAX CUTS ALL READY DID THAT!!!

Wed, 07/13/2011 - 16:46 | 1453516 Bay of Pigs
Bay of Pigs's picture

Like Barney Frank, Mitch McConnell has been drinking the FED's Kool Aid and chugging Bankster cock for far too long (no pun intended).

Wed, 07/13/2011 - 18:15 | 1453876 CompassionateFascist
CompassionateFascist's picture

No, you lieing communist pig. There's no such as an "unpaid for tax cut". The money belongs to us, not the ZOG. They steal it from us at gunpoint.

Wed, 07/13/2011 - 16:18 | 1453383 PulauHantu29
PulauHantu29's picture

Let the MoFos Default....that will teach them! No one seems to be payting attention to the crisis we are in except for a handful of people like Peter Schiff, Roubini, etc.

The other (esp Wall Street) are just lining their pockets with taxpayer Bailout money...stinks!

Wed, 07/13/2011 - 16:19 | 1453391 jack stephan
jack stephan's picture

Que Benny Hill.........

 

 

Wed, 07/13/2011 - 16:24 | 1453413 cougar_w
cougar_w's picture

I am totally ready for a default. Bring it Frank, you fecking tool.

The only thing holding this back is the banks. Default means they don't get no more sugar. The rest of us ... Chryst who cares?!?

Wed, 07/13/2011 - 16:24 | 1453414 buzzsaw99
buzzsaw99's picture

drama king? barney frank? oh no, he is the banking queen bitchez!

http://www.youtube.com/watch?v=a5NrqqK60OI

Wed, 07/13/2011 - 16:35 | 1453467 cougar_w
cougar_w's picture

Ah, but he brings drama to banking.

The stoggy old fuckers haven't had this much fun since the Roaring Twenties. With any luck they'll all die in the war.

Wed, 07/13/2011 - 17:32 | 1453722 LFMayor
LFMayor's picture

That's a fine idea.  Some people could make it a special project even.

Thu, 07/14/2011 - 00:51 | 1455070 Yen Cross
Yen Cross's picture

  That was "Classic"....   Nice quote.

Thu, 07/14/2011 - 02:54 | 1455073 Yen Cross
Yen Cross's picture

  That was "Classic"....   Nice quote.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 empty quote...

 

 

 

 


Wed, 07/13/2011 - 16:31 | 1453444 gwar5
gwar5's picture

Barney Frank always reminds me of Dr. Frankenfurter and the Rocky Horror Picture Show. 

If Frank and the other dems had merely kept all the last 3 yearly deficits the same size as George Bush's largest deficit when they had the power monopoly, they'd still have an easy $3 Trillion under the debt limit --- with room to spare!

The debt limit has been around for years, this group of GOPers were elected in a landslide to congress to enforce it and put a restraining order on these Oh-bomba and the dicktasters.

The dems are just daring the GOP to try and stop the dem spending, knowing the GOP will be blamed for the hangover when the punch bowl is finally taken away.

Wed, 07/13/2011 - 17:53 | 1453811 Shell Game
Shell Game's picture

"..this group of GOPers were elected in a landslide.."

pfft!  Only a very few real conservatives were elected.  The bulk of the GOP does not have the nads to stop the monetary bleeding, the bulk of which is coming from the Fed.  They are all talk, panzy-assed walk..

Wed, 07/13/2011 - 16:39 | 1453453 gwar5
gwar5's picture

..ditto

 

Wed, 07/13/2011 - 16:36 | 1453474 McMia
McMia's picture

Recapping Frank's view: why deal with a problem under my tenure, when very soon there will be a congressman who will replace me and he, or more likely she, can deal with the sordid mess I created.

 

Not that I'm interested in defending Frank or any other congressional scum, but are TD and many of the commenters in this thread even aware that the Republicans took control of the House of Representatives last year?

I'm a little hard pressed to understand how it's Frank's fault the Republicans in the House refuse to raise the debt limit...

Wed, 07/13/2011 - 16:51 | 1453542 Uncle Remus
Uncle Remus's picture

Why is it we need to raise the debt limit, again?

Wed, 07/13/2011 - 16:59 | 1453569 buzzsaw99
buzzsaw99's picture

otherwise the fed and PDs would be useless instead of parasitic.

Wed, 07/13/2011 - 16:59 | 1453572 McMia
McMia's picture

Why is it we need to raise the debt limit, again?

 

Gee, I don't know. I guess for the same reasons it's been raised 100 times before.

 

 

 

 

Wed, 07/13/2011 - 17:27 | 1453699 MachoMan
MachoMan's picture

So...  if you get raped by a syphilitic donkey, then it's ok for the donkey to rape you in perpetuity?  Makes sense...

Wed, 07/13/2011 - 17:06 | 1453610 gwar5
gwar5's picture

....quibble: the new members of congress were not seated until January... but, more importantly to your question...

Democrats have not come up with a budget for the last two years --- as required by law. Their deficits were so massive and embarrassing for their 2010 election prospects they just refused to do any. They just ignored doing one thinking people wouldn't notice, and were protected by the media and not called out. Thankfully, they were landslided anyway.

The dems have two years of budget messes for the new House GOP class to clean up. The GOP is taking heat by said media for not raising the limit for more democrat Trillions in structural spending put in place by dems and for not raising taxes to pay for more of same.

Poll: Only 22% of Americans think the debt ceiling should be raised. Americans are smart and engaged on this.

Wed, 07/13/2011 - 18:39 | 1453964 Everybodys All ...
Everybodys All American's picture

you are a little how can I say this without sounding condescending. Clueless.

Wed, 07/13/2011 - 16:45 | 1453513 AldousHuxley
AldousHuxley's picture

Is there a chance Barney will admit he lied yes. but 1 out of a million.

Wed, 07/13/2011 - 18:21 | 1453897 Larry Darrell
Larry Darrell's picture

Not quite

It's 1 out of 14.3 trillion, and soon to be 1 out of 16.8 trillion.

Wed, 07/13/2011 - 16:47 | 1453518 keepmydollar
keepmydollar's picture

How about the first payments you cut are pensions for elected officials.  How many ex-in the bank's pockets congressmen and senators are we paying now.  Cut that and cancel this benefit to any current federally elected officials.

Or even better.  Hold all of their pension balances in Treasuries the way Social Security is. 

Wed, 07/13/2011 - 16:48 | 1453528 Van Halen
Van Halen's picture

Off with his head!

Wed, 07/13/2011 - 17:03 | 1453591 Rynak
Rynak's picture

I think there are people that frankly have an unreal view of the world.

Damn right!

Wed, 07/13/2011 - 17:08 | 1453604 Yes We Can. But...
Yes We Can. But Lets Not.'s picture

"...but are afraid of losing a primary to someone".  That's right, Bawney, and that is exactly how it is intended to work, is what keeps the country from falling entirely into the hands of Vulgarians of your ilk.  You and yours - Frank Raines, Jim Johnson, Jamie Gorelick, Harold Ford, etc - cost us about a half trillion on your everyone-must-own-a-home bullshit.  Can't you just take your ball and slink off into some sewer somewhere already?

Wed, 07/13/2011 - 17:08 | 1453621 Jim B
Jim B's picture

Frank, you idiot!  I wouldn't let you walk my dog!

Wed, 07/13/2011 - 17:16 | 1453653 ThoughtCriminal
ThoughtCriminal's picture

Frank, Barney: just one of the reasons why the USA is "Exporting Democracy" (send Barney out with next shipment (probably to Syria))!

 

Wed, 07/13/2011 - 17:17 | 1453659 krispkritter
krispkritter's picture

He should be removed from office and Massachusetts should be banned from electing any other representatives for a term of no less than 20 years at which time a 2/3rds majority of states, that haven't been sold off to China, can vote to allow them to resume participation. By that time Frank should be dead and buried with his ass sticking out of the ground so his buddies can drop by for a cold one. Next is Nevada(Reid) and then CA(Pelosi) but we can probably write off CA at this point because it's so under water it's as if the Big One already happened and it slid into the sea.  What's the difference between Barney and a whore with no morals and a proclivity to fuck men/boys for money? Absolutely nothing...

Wed, 07/13/2011 - 17:18 | 1453663 Ham Wallet
Ham Wallet's picture

critics of QE1 and QE2 who said it was going lead to inflation, it would cost the federal government money, have absolutely been proven wrong. 

 BWAHAHAHAHAHHAHA!!!!!!!!!!!!!!!

Wed, 07/13/2011 - 17:37 | 1453743 Raymond_K_Hessel
Raymond_K_Hessel's picture

There's a chance that the sun will explode tomorrow, too.

Wed, 07/13/2011 - 17:56 | 1453760 Zero Govt
Zero Govt's picture

"They believe that this is somehow a fake and that you can push a button and make a lot of these debts go away."

Wherever did these $Trillions in debts come from Barney? Passed you bye while you were sitting alseep in the DC???

You know $1 Trillion from Fanny and Freddie in 'social housing' for example, bankrupt and over-indebted healthcare, bankrupt and over-indebted social security???

Did they come up from behind you out of nowhere while you were sitting on your fat arse in DC for decades having no hand in anything, not voting every Commie spending spree with your very own socialist hand (outs)?

The newbies have a different take on spending than you, it's called 'reality' fukwit. They just don't think money grows on trees while you spend it like you're living in LaLa Land. Someone has to pay the bill sometime. Welcome to the fuking debt ceiling you cretin, maybe you thought the huge debt mountain you mounted was just a mirage never to reach DC and not be faced!?

There is a button to press Barney, at the start of your shambolic, rotten, bankrupt career: 'Eject Barney Frank' 

Wed, 07/13/2011 - 17:59 | 1453841 Shell Game
Shell Game's picture

++ Great rant.

Wed, 07/13/2011 - 17:46 | 1453780 Raymond Reason
Raymond Reason's picture

They should put his picture on the dollar.  More appropriate than Washington. 

Wed, 07/13/2011 - 18:03 | 1453848 Smokey1
Smokey1's picture

Ponder the mentality of an electorate that puts an ignorant, fat, admitted cocksucker in Congress.

And then keeps him there after he succeeds grandly in doing his utmost to wreck the fucking country.

America swirling the drain, compliments of Barney and his ilk.

America's downfall won't bother Barney, as long as he has plenty of available dicks to take up his fat ass.

Wed, 07/13/2011 - 18:20 | 1453895 Everybodys All ...
Everybodys All American's picture

Should we not reward this cad and put him in prison?

Wed, 07/13/2011 - 21:43 | 1454619 Yes We Can. But...
Yes We Can. But Lets Not.'s picture

+10"

Wed, 07/13/2011 - 18:22 | 1453901 Atlantis Consigliore
Atlantis Consigliore's picture

Kick me in the can down the road,

 

please kick me harder harder, lets kick the can a little longer,  kick me in the rear harder...

 

Im smart im a congressmen and I can fool everyone,

 

print more3 and kick me in the can down the road another 2.5 Trillion.

 

fannie,  or kick me freddie, haaaaarder.

 

Anybody wanna hold Drachmas or dollars?

 

who s gonna play me with my lisp in too much fraud to fail?

let me have that lisping guy in too big to hold?

 

kick me,  kick, meee down the road....in the rear....

 

lol,

 

Wed, 07/13/2011 - 18:26 | 1453912 MainStMonkey
MainStMonkey's picture

At minute 5:09 into this blabbering Elmer Phudd interview, the "Banking Queen" actually says about FNM/FRE... "After they were put into conservatorship in 2008...they are not losing money." And there you have it folks! Wow!

Wed, 07/13/2011 - 18:38 | 1453961 iNull
iNull's picture

There's a great video on Youtube that shows pole greaser at the head of the House Finance Committee lambasting the head of the GAO for "even suggesting malfeasance/misfeaseasance at FNM/FRE. This gape should be in jail for his crimes. And beaten with a rubber hose till the day he dies.

Wed, 07/13/2011 - 18:39 | 1453952 iNull
iNull's picture

What the fuck is wrong with people from Massachusetts anyway?

Wed, 07/13/2011 - 20:44 | 1454413 New_Meat
New_Meat's picture

they call us Massholes for a reason.  But we got Scott Brown (ok, skoshi' RINO, actually careful Pol who is working the knife edge) into "Teddy Kennedy's seat" (and, oh thank you David Gergen).  Unions have their candidates who are bought fully--that is why Bawney's challenger didn't win.  Bielat couldn't overcome the combined SEIU/AFL-CIO onslaught (after Scott had embarrased them).  Got the Devaluator re-elected Governor.

So, ya, we're fucked up.  Some of us are working on it.

NEA has an office in the fricken' state house--I'm hoping that the fraud/cheating starting to come out in Atlanta has brush-fire tendencies this way?

- Ned

{did I mention that Bawney used to be my Congress-critter?}

Wed, 07/13/2011 - 20:51 | 1454429 StychoKiller
StychoKiller's picture

Too many institutions of higher Progressive/Socialist learning!

Wed, 07/13/2011 - 18:43 | 1453978 PulauHantu29
PulauHantu29's picture

As long as the Banker CEOs get another record year of Fat Bonuses, who cares if we default?

All that matters is The Bonus.

Wed, 07/13/2011 - 18:50 | 1453995 Juan Wild
Juan Wild's picture

Bawney. You awe so wetawded. QE1-2 has onwy hewped Waww Stweet. Beating the dowwaw down and waising the Stock Mawket. Hewe on Main Stweet we get highew unempwoyment, highew infwation, and highew commodity pwices. Oh, dat scwewy wabbit! But why shouwd you cawe? You have become a wich man off the backs of the peopwe who ewected you! Go get wost on Fiwe Iswand wif youw cabana boy, you siwwy dwama qween!

Hey Bawney. When you take a bweak fwom watching De Wocky Howwow Pictuwe Show:

To hewp impwove youw diction, wightwy gwip a penciw (howizontawwy) between youw teeth, so that you awe fowced to weawwy wowk youw tongue to cweate the sounds. Oh, dat scwewy wabbit!

Pwactice speaking out woud the fowwowing 3 tongue twistews, cweawwy enunciating each wowd:

A thin wittwe boy picked six thick thistwe sticks. Oh, dat scwewy wabbit!
Sidney Shewwy fwies thwough thick fog.
Dis thatched woof is thick.

Aftew saying them each sevewaw times, wemove the penciw and twy saying them again, uh-hah-hah-hah. Wisten to how much the cwawity of youw speech has impwoved.

Wed, 07/13/2011 - 20:48 | 1454421 docj
docj's picture

Hey Barney, given that you bear a huge chunk of responsibility for the mess we're in (roll the Fannie/Freddie YT clip here) could you do us all a favor and shut your grossly overused piehole and slink off to your bankster funded retirement already.

A**hole.

Wed, 07/13/2011 - 21:24 | 1454550 Moe Howard
Moe Howard's picture

If we blame Bush appointees and raise the debt ceiling, will Barney do A or B?

A: Buy teeth.

B: Find current teeth, and put them in his mouth.

Wed, 07/13/2011 - 22:38 | 1454796 Yen Cross
Yen Cross's picture

  Barney Frank has Anal Dilation of the "Jaw" When he and Dodd got together, and fudge packed the metals Futures Markets, I figured it out.

     The next Gay "BOND FLICK"  GOLD JAW!!!  DAH DAH  D- DAhAAAA!!!

Thu, 07/14/2011 - 00:00 | 1454990 AldousHuxley
AldousHuxley's picture

Go get married in New york Barney to your boy intern and stop messing up the country.

 

Gays are thought to be smart. Here is a counter example.

Do NOT follow this link or you will be banned from the site!