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We've Had Quite Enough of Barney Frank, Thank You Very Much
Just occasionally, we feel as if we might be a little too harsh with Barney Frank. He has, after all, been something of a singular lightning rod for many of the more adverse consequences of the housing boom. Without question he has taken a disproportionate share of the heat generated by increasing scrutiny of Government Sponsored Entities like Fannie and Freddie. True, he was involved directly in crafting provisions of the Troubled Asset Relief Program. Indeed, as he chairs the House Committee on Financial Services, he is uniquely exposed to all things "credit crisis" and most things "bailout." Yes, his loose alliance with figures like, say, Maxine Waters, tends to draw sporadic sniper fire from the trenches (well, and sustained grazing fire from the MG42 nests). And, obviously, some of the more publicly scrutinized aspects of his personal life have aligned social conservatives against the Congressman. The combined effect of these disparate circumstances gives us pause in those moments when we begin to form our critiques of the Distinguished Gentleman from Massachusetts. Then we come to our senses.
With the exception of the last item on our list, Frank has richly earned the ire, skepticism, dismay and disgust that has begun to plague him. The disproportionate housing bust radiation to which he has been exposed is actually directly in line with the disproportionate level of grandstanding, aloof and arrogant presumption Mr. Frank has exhibited over all matters housing for the last two decades. His shameless use of the "minority" and "redlining" rationales to enable his personal (and taxpayer funded) socio-regulatory experiments and expand his personal empire of finance policy micromanagement power makes his re-purposing of TARP language to support politically connected (and inept) banking ventures is the worst kind of cronyism. His continual leveraging of his Committee chair responsibilities to expand risk and limit scrutiny over the GSEs make it easy to mistake him for the most egregious deregulators in the Republican party. The latest news today prompts us again to assert that it is simply time for Frank to go.
In the heat of the credit crisis and as TARP was being hurriedly drafted, Frank injected language to carve in eligibility for OneUnited, a middling Boston bank facing near imminent and ignominious failure. Some $12 million in bailout funds (a pittance in the larger scheme of things) eventually made its way to OneUnited. In itself, this raises eyebrows. Then again, perhaps one can dismiss as somewhat noble the efforts of a Congressman to carve out special interest exceptions for businesses in his home state. That is, until you dig a little deeper.
OneUnited got in trouble in the first place by being heavily invested in, you might have guessed it, Fannie and Freddie. So large were its holdings in the GSEs that when they were pressed into receivership, OneUnited's reserves sunk below limits. Frank originally claimed his intent in giving OneUnited special attention was to preserve one of the few (and largest) minority owned banks in the country. Forgetting for a moment questions surrounding the desirability of permitting politically popular classes preferential treatment in the disbursement of crisis aid, OneUnited exposes deeper flaws in neo-Keynesian bailout theory. Funds disbursed at the whim of politicians tend, quelle surprise, to be allocated on political criteria. So when Frank intervenes directly, one is prompted to look for connections. It's a short look.
Unsurprisingly, one finds that Maxine Waters, who shares a number of legislative duties and frequent camera and mic time with Frank, has a former OneUnited director and recent (if not current) OneUnited stockholder for a husband. Waters is presently entangled in a House Ethics Committee investigation into allegations that she broke ethics rules to help broker a deal for the bank. Would it surprise you to know that, though based in Massachusetts, BankUnited does most of its lending in Maxine's home state of California? Probably not if you've been reading Zero Hedge for any length of time.
How is it that a Boston bank ends up lending mostly to the multi-thousand miles distant home state of its politically connected former director and stockholder and is also mostly (and eventually disastrously) invested in the pet projects of one of its most senior legislative regulators that also happens to be a close colleague of that stockholders wife? One might ask the question "Were any of OneUnited's major investments commercially motivated?" But wait, there's more.
OneUnited is one of a subset of banks to enjoy non-cumulative dividend terms on the securities bought by the government with bailout funds. We are certain that you will be shocked to learn that the bank (despite showing a profit so far in 2009) hasn't actually been paying these dividends, and that in not paying them they are automatically forgiven. It will be seen that OneUnited has, in effect, an interest free loan from the taxpayers. According to Congressman Frank, Congressman Frank is shocked and dismayed to learn this (though his personal involvement in crafting the terms of OneUnited's bespoke bailout causes one to wonder how he missed the import of non-cumulative dividends).
The most dismaying part of our work here at Zero Hedge is often the self-realization that narratives like these simply no longer surprise us. Neither do reports like the one recently issued by Ran Duchin and Denis Sosyura which concludes, unsurprisingly, that connections to finance committee legislators and the Federal Reserve boards are a fairly reliable predictor for a bank's likelihood of sucking down TARP funds.
Expect much more of the same.
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Is the Gay Card maxed out as well?
Man, putting in the full day, huh Marla? Personally, I find it the best excuse in the book to avoid family and unnecessary drama. Hope you're having fun, and that you enjoy the rest of your holiday season!
¡Salud!
Duty officer. :)
Can you share a clink of a cocktail glass from your post?
Marla, is Tyler paying you time and a half? If not, you better join the bloggers union...
Why doesn't he just disappear like Larry Craig? Oh yeah, he's a Democrat. No piccadillo is too big to force a Democrat to resign, just look at Clinton. No lie is too big to force a Democrat to resign. Even blackmail and extortion on your own victims won't cause a Democrat to resign. It's just another one of those double standards that progressives seem to relish and thrive on...
http://deceiver.com/2009/12/24/domestic-violence-crusader-mary-j-blige-s...
+1000. Republicans are scumbags, but at least they are more accountable scumbags than Democrats. Anyone who would challenge stance please give specific examples. If Richard Nixon had been a Dem, he would have finished serving. The Repubs threatened to stop backing him and it was "sayanora." When it was Clinton's turn, the Dems had a "rally walk" or some equally ghey thing. Thanks, party of FDR/LBJ.
Cursive, if you are willing to accept that there has been a double standard, then you also have to accept that what ever party was not benefitting from this bias would constantly be on the short end of the stick. Under these circumstances, the opposing party might just decide to "if you can't beat them, join them". The Republicans then might have felt forced to compete with the Democrats on the Democrat's terms, hence we have Bush's "Compassionate Conservatism", which made the Democrats dig even deeper in their attempts to smear the Republicans as greedy and capitalist. If this were the case, than the question is which candidate was bought and paid for by big finance? For the last 10 years we have seen an unending pattern of the Democrats accusing the Republicans of something, then in all the commotion doing that exact thing while managing to blame it on the Republicans.
So I will beg to disagree, and state that the Democrats are the problem, and Barney Frank is their poster boy.
ConferderateH,
What, the "everybody's doing it" defense? I don't traffic in moral equivalency. No one earns respect by being complicit in wrongdoing. I agree that the Republicans are a marginally better choice than the Democrats, but the Repubs have been a very poor opposition party. The main difference between Bush II and Clinton was that the latter was receiving analingus and fellatio from Lewinsky and other assorted fat chicks. In my lifetime, each administration has been a part of the wealth destruction and societal decay that brings us to this pivotal moment in U.S. history. I think the future will be brighter for Americans, but the hangover is going to be heavy.
I seem to remember record prosperity and budget surpluses before Bush became president.
Oh wait... "Noun, verb, 9/11"
so you are still pissed that he got a bj in the wh ??
other countries laugh at this prudish whining - look if you wanted to kick him out for something else, sure but stop with the sex crap
Okay, I'll take a crack at it:
In 1998, Clinton lied about banging some ugly chick. Republicans said, "He lied, he committed a crime (perjury), and he should be thrown in jail." Democrats said, "Hey, it's no big deal. He didn't really 'lie'. He just wasn't honest about getting a little tail - something that every man in America has done."
Fast forward to 2006, when Bush says Iraq had nothing to do with 9/11 or Al Qaida; the stated reasons for invading Iraq. Democrats said, "He lied, he committed a crime (war crimes and crimes against humanity), and he should be thrown in jail." Republicans said, "Hey, it's no big deal. He didn't 'lie'. He was just given some bad intelligence - something that happens to every President."
I totally see the difference! Thanks for clarifying.
You won that challenge Unscarred.
Both the Dems and Reps are corrupt. Its time for everyone to get behind the Libertarian Party.
http://www.lp.org/
Wow, its kind of hard to equate Clinton's lying to hide an affair (and he was elected despite a well known zipper problem and admitted to "causing pain in my marriage" BEFORE his election) with using the IRS to attack enemies, burglarizing one's opponents, and using the power of government to destroy Ed Muskie, who might have had a chance of beating Nixon in the election; and sending Loose fellows to commit burglary in violation of numerous laws and then lying throughout the coverup.
You might also want to read the Pentagon Papers and compare what they said to the lies Nixon was feeding the public.
Truly, Clinton betrayed everyone. However, Clinton's transgressions are not remotely comparable to those of Nixon (or Reagan's for that matter with his little private wars down in central america) who attacked the Constitutional foundations of this country.
Without Ann Coulture et al cheating their way through the Paula Jones lawsuit, nothing occurs which remotely resembles a high crime or misdemeanor. As shown by Gov Sanford of S.C. Merely embarrassment.
I believe Eliot Spitzer was a demo. And he was forced to resign.
Frank's nickname "BarF" is truly fitting, as he literally makes me want to puke. He represents everything that is wrong with our government (on both sides of the aisle)...just another career politician selling out taxpayers and who refuses to admit his mistakes.
His sexual orientation is the only thing about him that doesn't bother me in the least.
Until we get these wastes of oxygen out of DC, we will never truly right this ship.
(insert politically correct holiday gr...ah, screw it)
Merry Christmas!
You sure his sexual orientation doesn't bother you?
Ok. I find it a little hard to believe that the lion's share of the participants on this forum fall into that category, though. I can't remember a post dealing with Frank on this site where the frat boys (and girl) who run it weren't making some disparaging comment about his (irrelevant) status as a gay man.
I suppose it's unrealistic to expect people who masquerade as characters from an anarchist cult movie to grow up ... but, I guess stranger things have happened.
Barney put his own sexuality on the table with the gay prositution ring that was being run out of his house, and also how his gay lover from FNM used and abused him to get law changes enacted on FNM's behalf.
All of America had been touched by Barney's homosexuality through FNM, so yes, it it does matter.
OUGate, as in "oweyouGate".
Maxine Waters is beyond words. Barney Frank should have been gone after Steve Gobi. Can anyone imagine another representative running a call girl service out of his district office and not getting full impeachment? Oh yeah, that's right, Ted Kennedy could have probably gotten away with that. Corruption is endemic to the state of Massachusetts. Frank has always been an asshat, a title that, given his personal predilections, he may not take as a pejorative. I just know that we can't trust the people of Massachusetts to correct the problem.
Just like Barry keeps score. Frank remembers where the little boys went, and where they still go. GS coughed up 60mm for Massachusetts so fast that hardly anyone even noticed.
Couldn't agree more.
The absurdity meter is off the charts.
B. Frank couldn't run a bake sale without it ending up $3 trillion in debt and with a sexual scandal to boot.
All the more reason for me to believe that there is simply no hope for us.
no, Rusty, there is no hope for us....but take solice, there's no hope for Frank and his ilk either, only difference is they don't know it yet....for when the roaming hoards take to the streets, his path among others will be traced with a bee line
One can only hope.
However, I fear that our collective unconscious knowledge of how to run a good and proper bloodthirsty mob has been bred out of us by 4 generations of public schooling and endless hours of CRT induced radiation to the gonads.
When's the last time you even saw anyone with some properly boiled hemp cordage? (your own supply notwithstanding:)
(...if all you're going on is my confession, I'm simply not credible)
not to fear, my friend. It's true we won't be efficient, initially. But we learn quickly and rage is not satisfied until the damage is done. The flammable vapors are leaking daily and will inevitably wander into the path of a sufficiently energetic spark.
Rusty,
I am worried about fascist martial law stuff, if they put it in place fast, while they still have money to pay soldiers, we are screwed bad.
If that does not happen, we will reconfigure locally. That, friend, is our best hope. These rat bastards are too far removed from us to care about us. Like wise, they are so distant from us that most people are not engaged with them either. Citizens gotta work a job, put dinner on the table, laundry, cut the yard, find time to read the kids a bedtime story. What is Barney Frank, a new hot dog brand (God don't answer that--New thread)?
If we don't get jackboot martial law and order, the whole system will dissolve into an absurd abyss. We may not have as much food as easy, but we will eat. We may not have so many electronics, but that is not the end of the world. We can do more with less, if called on to.
I see this as a bottleneck we have to get through, from here (grotesque over centralization) to there (localization) where right now these over sized bastards are defining our reality because we keep treating them as if they are the legitimate system. We don't need armed revolt so much as we need to ignore them and refocus locally.
It is our money, our interactions, and our belief in them that give them their power.
If we stopped paying taxes, there would be no money for cops to arrest us all, no money to pay IRS agents, no money to fund jackboots. We'd bring this whole thing down because they could not pretend they were doing anything but Ponzi if tax receipts decreased 100%.
As much as I hate to add fuel to your fire, I thought that I would finally post this. Sparing too much drama and names, I have a friend that came home from Thanksgiving family time pretty pale. Let's just say that he has connections that go way up in a pretty unpopular company over the past several years, which I am not going to name. Also, I have absolute trust in the source due to the fact I don't think I have ever heard him say anything political in his life. Anyway, he was told by a family member (B.O.D's very large international company) that a very intellegent man that has been extremely successful in doing future projections for this company came to the board with his newest analysis. In a nutshell, the guy said that basically in about 8 years, the U.S. will have to default on its debt and shut down it's borders. He likened it to someone with a severe illness that has their body shut down (I suppose like a coma) to protect their internal organs. World War III ensues and it is us and Israel against the world.
Pretty f'd up that these conversations are going on in some of the most powerful companies in the world. Hopefully we will be able to look back and laugh.
8 years is to deep into the time line....
Give it 1 1/2
Pretty f'd up that these conversations are going on in some of the most powerful companies in the world.
Sure enough!!
I agree.2 years maximum to unquenchable blood-thirst.
Bingo. 2 years tops until someone, somewhere in this country is drinking blood from a hollowed out skull.
MERRY CHRISTMAS EVERYONE!!!
That's not what I meant.That stuff has been going on for a while.I was talking systemic failure with concomitant festivities.That includes as a special feature a LOT of uber pissed off ex-middle class.If you are referring to a Lord of the flies type fate....then no disagreement here!
And with friends like Israel, who needs enemas?
I am Chumbawamba.
People who have friends like Israel
all the more reason to purge ourselves of the malthusian parasite sooner than later.
The military is fully aware of this President's short comings and has no intention of complying with any of his fascist foolishness. Never has anyone been more reviled by the military than this cowardly man child President.
I can only hope our good folks in the military were equally suspect of Bush's imperialism and the phoney "war on terror." Hopefully it is only because Barry is now President that Bush-Cheney have slipped to number 2 on the "most reviled list."
As for the Republicans are better than the Dems debate above, as near as I can tell, both parties are corrupt and beholden to special interests, and see no reason to favor one over the other.
There are far too many unadorned lamp posts in Washington, D.C...
I am Chumbawamba.
WTF are you talking about, you ponce? After eight years of Bush it defies belief that people should type such absolute bullshit as this.
Obama is a corporate tool, sure 'nough. But with idiots like the above populating this country, is there any reason for hope things get better?
No.
May I add #6. We need to take the validity of their mandate to office, by not voting full stop! Lets see them naked in their true form, mouth pieces to the senior bond holders and that is all. Totally unresponsive to their constituents out side their masters crumb trails *manufactured ends* to our belittle-ment.
Words of wisdom Ms.. If you haven't read The Long Emergency I think you'd like it. Very similar world to the one you describe.
Although, I heard someone tell a story once about the fact that if you take a domesticated dog, and you put him out in the wilderness, more often then not, that dog will starve to death. That's because every domesticated dog has been taught, every day of it's entire life, that food comes from his bowl. Somehow, it just shows up there. Always has, and always will.
Are americans any smarter? What will happen when our bowl goes empty?
Do you think there's a chance Arrow Trucking had any food to deliver when it simply ceased to exist this past week? Any chance there are trailors full of food, rotting right now as their tractors sit without gas?
If not, I guarantee that at some point soon, there will be.
The pieces are in motion.
+1. The Long Emergency is an eye-opener in terms of framing what Peak Oil means. Should be on the ZH required reading list.
Read Ferfal's blog. The cars in Argentina already run on NatGas, and coal is plentiful if people stop being idiots.
Kunstler's a tool, the last person you'd want around post SHTF.
The great thing is Frank is basically immune to being voted out. He could eat children live on C-SPAN and not worry much about re-election. A shining example of what is wrong with our political system. I can't be the only one hoping that when the dollar tanks that they will at least be inconvenienced, or Lord willing cast aside by their oligarch overlords.
Marla- What a solid piece of writing. Thank you and Merry Christmas.
Absolutely fucking disgusting.
While Barney didn't make it onto Crew's Most Corrupt top 15, Maxine did. Barney undoubtedly is #16.
http://www.crewsmostcorrupt.org
Zoinks! Like Scoob I never knew about that website. Thanks for the link!! I fear though that the list need be expanded to most corrupt 400 for the house and 90 for the senate at least.
Barney is useful in one way.When you think of the scummiest bum imaginable, his disgusting visage floats into view....kind of like a turd floating to the top in a septic tank.
He does such a disservice to gay people. The image is weak, kiss ass, slovenly, corrupt, and just down right creepy. Gays should lobby to get rid of him and campaign for someone solid and sensible to get in from the BGLT community.
I vote for Larry Craig!
And I thank you for that chuckle sir.
I know where I'm going when I need to get my Dinki-Di.
http://www.yourprops.com/norm-47cd555f04593-Mad+Max+2:+The+Road+Warrior+(1981).jpeg
The "gay community" didn't elect BF; you can blame all the straight soccer moms in the southern suburbs of Boston. BF doesn't speak for the gay community, whatever that is, so just because he's gay don't think everyone who is gay is like him. See that headline; Straight pro golfer is a slut. How about; Straight terrorist tries to blow up plane. Straight fed chairman wrecks our economy. ??? Lindsey Graham is gay and he is on the other end of the political spectrum and he doesn't speak for any group either.
http://www.youtube.com/watch?v=HX4_rmUY-Rs
Merry Christmas Miscreant.
Re Barney,he does a disservice to human beings, regardless of orientation.He is so utterly without redeeming qualities it is amazing indeed.Utterly corrupt and depraved, all US citizens should be dismayed.And the people of Massachusetts particularly so.
Merry Christmas to you too!
You are correct, of course, regarding who he is a disservice to-- everyone.
I think I am sensitive to how this group gets stereotyped in the media. Gays are in danger of being beat up, just for being gay, every day of their lives. I was with a group of lesbians who were beat up by rednecks one night (I was 16 when it happened, they were in a punk band). They left me alone because they knew I was straight. I couldn't stop it. These were 5-1 to 5-4 college aged girls. Little. The image of Frank representing gays, is hurting gays baaaad, I promise you. I'm not saying that people who universalize Frank to all gays are accurate or correct, I am saying I think it is happening.
One would hope people would understand his depravity stems from the washington politician effect.But your point is taken.His presence is corrosive....
If anything we should be dismayed by the people of Massachusetts for continually re-voting him into office.
We get what we deserve.
I am Chumbawamba.
Just another reason to to avoid that state like the plaque.They must be insane.
Good old barney is still captured by his blackmailers and will continue to be totally controlled. Does anyone remember the Franklin Coverup (scandal)? remember that one of the boys being abused in this pedophile ring singled out Barney as one of the serial participants in this pedophile ring?
yes, me thinks there are still some nice blackmail pics being kept so barney will toe the line. think im making this up? go on youtube and check out the franklin coverup.
Good old barney is still captured by his blackmailers and will continue to be totally controlled. Does anyone remember the Franklin Coverup (scandal)? remember that one of the boys being abused in this pedophile ring singled out Barney as one of the serial participants in this pedophile ring?
yes, me thinks there are still some nice blackmail pics being kept so barney will toe the line. think im making this up? go on youtube and check out the franklin coverup.
Deleted
Let's see .....
Dodd
Frank
Pelosi
Bush
Graham
Rubin
Greenspan
Paulson
Obama
Bernanke
Brown
Oneal
Fuld
Cheney
Where would the US be without these folks....????
I was telling my wife the same thing last night about Nixon & Watergate.... if Nixon were a Dem, we probably wouldn't have heard a word about it.
Instead, it would have been "Oh, that Tricky Dick, he's such a joker !" or somesuch.
I hate these tough math questions below ! LOL.
Good God, you're an idiot. Here's hoping you and the wife don't reproduce. There are enough fools in this country already.
You're an idiot. The MSM whitewashes Democrat's dirty laundry until the truth leaks out through other sources. They have set a new standard in ass kissing with Obama.
Barney gets no pass, the mofo has been knee deep in the mess we are in today and he continues to walk around like an innocent fag. The day he accepts some responsibility is the day I'll consider a break, until then...guilty.
I get physically sick when I see Frank on TV so I now turn it off. His lies literally make me vomit. I am not kidding.
What happens in Washington is a lagging indicator. They are a reflection of the people they represent.
speak for yourself, chief. No reflection on me. I pay my bills, help my neighbors, have no debt and put my wiener in the proper hole.
Perhaps we have reached the point where the pigs that inhabit the power corridor truly reflect that the sewage of our society has reached critical mass. I say no- not yet. We can only say at this point that the power elite is sewage gone critical.
You have an oustanding range of knowledge, Marla.
Of course, no one survives sustained grazing fire from an MG-42, but you probably knew that. The whole 1200rpm of 8mm, 197gr spitzers (not the Eliot kind) tend to ruin your day.
Your writing is terrific. I look forward to a piece incorporating references from Homer, Herodotus, and Douglas Adams.
Marla excels at wicked characterizations, and the MG42 crack is no exception.
Ah yes, the roar of an MG42. There is nothing else like it on earth.
On the other hand, she did not mention the frequent barrel changes needed for sustained fire.
When will it ever end and when will the sheeples finally get it and do something about it.
Barney Frank is constantly fighting an uphill battle. That's for starters. Secondly, on the committee he chairs, he has to deal with a shitload of Rahm Emanuel, de facto, appointees. Ergo, the only way Barney can GET ANYTHING through committee is to water said bill down, insert the loopholes and just pray by the time the bill reaches the floor for the vote that its still worth voting for.
You wanna blame someone? Blame Rahm. He actually sat on the board of Fannie and is currently blocking any attempts to look back at the accounting fraud from earlier this decade. (among other matters)
Barney,
I apologize for my mean words up thread. I'm glad you feel like you can open up with us and tell us about that mean ole' Rahm. You got a real Rahming, didn't you? Quite the Rahm job. Must be painful, with you so weak and vulnerable and all. I did not appreciate, fully, your service to our country.
(Genuine apologies, SB, the routine was irresistable).
We need to end the concept of sovereign immunity. They have absolutely no risk in the game. They are never held accountable for their actions or decisions. Then again maybe we can align ourselves with this definition of treason and approach from that angle.
Treason: the betrayal of a trust or confidence; breach of faith; treachery.
http://www.youtube.com/watch?v=o3Nh6DurMJ8
So americans are finally discovering that corruption is rife in their country? Now some humility would be in order next time ZH run a thread on foreign countries' corruption and despotism thank you.
Sorry, if you read this site enough, you'd know that we here at ZH practice "outings" of the corrupt, criminal, dishonest and inept on an equal opportunity basis. No humility necessary.
barney is a queer rod :)
the fact that Barney and Maxine, the worst and most expensive scumbags of the century, receive very little negative media, shows there is little or no hope for the media, or us.
"And, obviously, some of the more publicly scrutinized aspects of his personal life have aligned social conservatives against the Congressman. The combined effect of these disparate circumstances gives us pause in those moments when we begin to form our critiques of the Distinguished Gentleman from Massachusetts. Then we come to our senses.
With the exception of the last item on our list, Frank has richly earned the ire, skepticism, dismay and disgust that has begun to plague him."
Sorry that's where you lost me. The disgusting and perverted nature of his sexual urges (and no I'm not referring to his homosexuality) helps explain the ease with which he excuses and enables corruption.
It's a convenient meme that has infected public discourse, that a public figures private life is 'irrelevant' to how they perform their duties. Another free pass to our pigman oligarchs. Cheat on your wife, 'forget' to pay your taxes, snort a bucket load of coke in your younger days (like our previous and current presidents), screw the help on the office desk and yes engage in the mandatory rape of underage boys and somehow it doesn't matter to our owned and corrupt media as long as it's the protected ones transgressing. Of course should it be an annoyingly effective ex D.A. paying for sex from prostitutes then he just has to go, we can't have that kind of behavior in public life.
If you're a moral deviant in your private life then you can be sure as cows shit grass that you'll display the same deviancy in performing you public duties, end of friggin story.
If you're a moral deviant in your private life then you can be sure as cows shit grass that you'll display the same deviancy in performing you public duties, end of friggin story.
I think that about says it all with Mr Frank.
I expected as much from Barney the Banking Queen
http://online.wsj.com/article/SB10001424052748704718204574616470817688220.html?mod=WSJ_hpp_MIDDLTopStories
Marla you know shit about politics, in fact the ZH blog's myopic view of politics is so glaring that it's embarrassing. Legislators do not set regulations they pass laws.
How the regs are promulgated is left up to the Federal Departments or Agencies. That is where most of the shenanigans take place. The law can state that back is black but the regs can make white, black. Do you think the Treasury and the Fed might have some effect on how the laws are followed. We all know that the SEC was asleep at the wheel for the past two decades, so why the surprise that legislation from congress is perverted by rule making?
If you have enough of any politician it because you don't know what the hell you babbling about.
I stand corrected. Barney Frank had nothing to do with GSE lending volume requirements, GSE asset and reserve limitations and the permissive securitization of MBS instruments. He is the most selfless and noble legislator we have and we are lucky he hasn't yet been hit by a bus.
Marla,
GSE or no, the Dancing Queen, did say ON the record, to McCain, Paul, and Dubya more than ONCE that FM/FM, had no issues.(they were under pressure from ACORN,(and other's, to put everyone and their dog into a home that wanted one, qualified or not....period end of story.)
They ALL warned that they needed to get them under control,as they were headed for a disaster.
Bawney, said "NO", and look where we are now...................the Dem's had control.
And he was in charge..............Just as Katrina, Dubya, warned the Mayor, (5 days in advance) and the Governor to GET their people OUT.
He was ignored......................Nagin sat there, and thousands were stranded and left homeless.Dubya had his issues, but compared to what we have NOW, he's was a Prince.
Bravo, DocZap. Just don't expect it to register here because we here at ZH still can't past that "stolen" election in 2000 and all those "lies" about Saddam's "non-existant" WMD's.
Marla does not need my help, so I'll not comment on the content of your post. It speaks for itself.
But why you gotta have this tone? Can't you disagree or challenge her without being a rude horses ass? Quite a few errors in your post, can barely read it, it's so bass ackward jumbled. What the fuck is this line?
I'll tell you what it is, it is BABBLING. Are you drunk or stoned? Best to keep posting Anon for a while. You're too incoherent to post here on a regular basis with an identity.
Barney?? Zat you? No more fruity drinks for you! You are shit-faced... (oh wait...that's your norm.... or was it shitdicked?... ah hell... whatever.... No more drinks for you!)
If Barney didn't exist, Taxachusetts would have to invent him. They get what they deserve and reap what they sow up there. You would think the swimmer, simply through finally dieing, had become a saint in his later years. It's beyond comprehension. If you had a neighbor behave like either of these clowns they would already have had several fires. But in Mass they reelect them, so we (emigrants/refugees) still have to deal with their bullshit.
We've all been defrauded, for a very long time, by this marxist/banker/fascist machine. Everything that follows now is just logical and inevitable. Barney is just another corrupt tool. The power structure's response to near meltdown--no real reform--simply tells me we're in the endgame. Complacency leads to accidents. We don't have 8 years; perhaps not 8 months. Gold and silver are about to go exponential against all things paper and digital. Get some more.
Oh, and I'd say its about 30% probability that two dem senators don't make it back in January. And 70% probability that Harry uses the 51 option anyway. Two years from now it will be hard to find people to run; any vote for any tax increase will be suicide. Publishers and producers may try to learn how to fly but get cement poisoning. Members of this congress will be resigning en masse and retiring to little countries south of here--out of sight... Can you imagine people wanting to be photographed at Harry's funeral? Will it be as big as Teddy's and as twisted? Unlikely. That market has topped.
I used to care about these things but now I don't. I say let him stay. The longer he holds office, the more he does to undermine the constructs that are undergirding this nation, and the sooner they will be worn away by the constant current of graft and corruption and the whole thing comes tumbling down so we can end this iteration and start the next.
I am Chumbawamba.
I'm with ya! Throw some fuel on the fire. I voted for Dubya for his second term so that he could finish the job of screwing up the country. Held my nose and pulled the lever.
I really did think that Obama would break the mold -- I was wrong.
I say we elect the scummiest, most corrupt and vile people we can find. Give J6P a reason to sharpen up the pitchforks.
Working to do good has gotten us nowhere as voters.
Excuse my cynicism in this season of cheer.... Happy Holidays to you all.
2010 the year of massive tax hikes for all, courtesy of all the congressional scumbags who are running out of money to steal and need a new stream of revenue.
Does it really matter which party they belong too?....I think not.
Happy New year to all the ZH'ers and the only medium for free speech left, the internet.
Maxine Waters = strong gagging reaction, as if to a noxious toxic smell.
I should have stopped with the headline. I agree with it and reading the troll's comments simply re-enforce my gag instinct. Question is dare we wait for the whole pile of shit to implode, or is it encumbent on us to act? The majority of the skin in the game is counting on the system enduring for some time and even I believe a collapse is not guaranteed in the next three years.
Being long gold or puts has a tendency to make one discount the amount of time required for an enormously bloated bureaucracy with momentum to self destruct.
Frank is simply the most loathesome maggot, his misuse of his leadership position on an important congressional committee no surprize given its accompanimant by his long history of moral deficits. Just ask Steve Gobie. Frank is what's wrong with Washington and when the peoples day comes as it inevitably will, Frank will be in detention, and having been interrogated, will be awaiting public trial. Then we'll see if his trademark, best-defense-is-an-offense, tactic does him any good.
Too bad the heads of the FBI, SEC, FDIC, SEC are in the same cabal with the dishonorable Mr. Frank.
Is it possible that there is one honest congress person ?. Maxine is nothing special, just more obvious. Check out the Market Tiocker site for the list of Sir Alan Standford's friends..
Now I see the pay offs everywhere I look.
Who do you trust when everyone's a crook..
There's a Revolution calling you..
There are far too many unadorned lamp posts in Washington, D.C...
I am Chumbawamba.
You need to grow a pair...of brain cells!