A letter sent out by the House Committee on Financial Services. Presented without comment.
Frank Statement on FASB Ruling on Mark-to-Market
Washington, DC – House Financial Services Committee Chairman Barney Frank (D-MA) today issued the following statement on the Financial Accounting Standards Board’s ruling on mark-to-market accounting:
Or such is the title of the letter just sent out by the House Committee on Financial Services in which the Democrat-GOP squabbles take on a new and heated flair, compliments of Barney. Seems the purpose for the letter is borne out of criticisms of Frank that he personally did not pass any legislation to regulate Fannie and Freddie until 2007, his claims in 2003 that FNM and FRE were not in crisis, and his lack of attempts to restrict subprime lending between 1994 and 2007.
Northern Trust is the latest bank to suffer populist anger, choreographed courtesy of Barney Frank, after it was disclosed that they had some serious fun at the taxpayer's expense last week. TMZ via Dealbreaker gave a blow by blow of the festivities that Northern Trust Employees partook in, which included: