Barney Frank 'Fesses Up on Financial Crisis

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PJ O'Rourke said: the problem with the liberal mind is that it is incapable of recognizing its own failures. Why would anyone expect Barney, Pelosi or Reid to resign? In shame? They fail to comprehend the wrongs they do.
It will take the will of the voters to remove them from office.

Bill Murphy of MA 10:04AM October 03, 2008

I find it very hard to believe when people can see themselves on tape saying there was no need to reform Freddie and fannie thet the bills for reform were killed in thier committee and that the republicans were trying to keep the regular folks out of houses that now they can deny they had anything to do with the current mess. That is the problem with this country and the press is partly to blame. If we had an honest Press that did not inflame the people the congress could act more responsibly. We all know if the reform had passed in 2005 the headlines in the paper the next day would be the Republicans are keeping the middle classs from owning a home. No wonder we have an ineffective government when our press is so biased in one direction.

peter fotinos of CA 10:48AM October 02, 2008

Barney Frank lives in the cesspool of lies he created. He and Dodd exerted years of pressure on Freddie and Fannie to provide loans to people who would NEVER be able to pay for. Those two are the primary villains in this debacle and they shpuld be kicked out of congress.

Marty Daneman of TX 11:40PM September 29, 2008

Anyone who thinks that the Democrats are innocent are dead wrong. You fail to realize that the deregulation started when Carter was president. When Clinton was in office is when all of this affordable housing NONSENSE came into play, FORCING lenders to grant mortgages to idiots that couldn't afford to pay, lest being deemed racist. This crisis didn't just happen on Bush's watch, it started a long time ago. The Dems have majority. If this bill was so great, why didn't they pass it without GOP support? I'll tell you why. Because when it fails, they'll look like the fools that they are!

Brian Dill of PA 8:18PM September 29, 2008

While Bush and friends have been an instrumental part of this financial debacle, the democrats in Congress are equally to blame. They knew about the bad loans but they wanted to continue giving out mortgages to unqualified folks in order to push their polical agendas.
Barney Frank is a prime candidate for criticism -- he knew all along, lied about it, and DID NOTHING! His socialist agenda was more important, and taxpaying, bill-paying citizens be damned!

Patc of MA 6:52PM September 29, 2008

Please, please, please media wake up and tell the truth. Quit being lazy and look all this up its there in black and white for you to report. Every news organization should be all over this pointing out all the times republicans brought this up. Maxine Waters saying Franklin Raines showed outstanding leadership, Barney Frank saying there are no problems to the regulators. I beg of the media to tell americans about this! But they won't and that is why they are laying off people in the media and americans don't trust them anymore than used car salesman their ratings and subscriptions are way down because journalist have become lazy. Thanks to Sam and others for trying but all media should be all over this, its too easy.
Thanks for the time!

Doug of TX 6:22PM September 29, 2008

So what they are wealthy. That's what capitalism is, as bad as you hate it. It isn't the governments responsibility to make sure that everyone is "equal". You get what you put in. Why punish the people who have built corporations here and supplied us will billions of jobs!!! I don't think they should get away with golden parachutes, but all corporate salaries shouldn't be capped either. That will eventually trickle down to us middle class people and I don't want the government to control my pay. They already control enough. The democrats are wanting to turn this into one of their standard welfare projects and that's not what this is about. This is affecting the WORLD people. Frank was a leader in passing the bank regulations that required them to lend to people not qualified for mortgages! It is his fault DIRECTLY. He, Pelosi, and Dodd are an absolute disgrace. Now they're pointing the finger at anyone standing near them. It's not Bush's fault, as sucky of a President as he has been, this isn't his fault, it's not the Republicans fault like the Democrats are saying. They could have pushed this through themselves!!! Barney Frank is just a Barney Rubble looking, speech impaired idiot. Quit playing politics and get us the hell out of this mess.

Sarah of 3:25PM September 29, 2008

Do we just deny that Frank obstructed this reform? What freaking planet are you from? It all stems from a chicken in every pot and history does not lie. The deomocrats did this, plain and simple.

warren taylor of CA 1:51PM September 29, 2008

Anyone can look the history of this mess. The Republicans have been trying to reform at least 10 times this past decade. Just search McCain 2005 Fannie Mae. There it is a bill, the Federal Housing Enterprise Regulatory Reform Act of 2005. McCain saw it was going to be a disaster waiting to happen. The bill was thwarted by the Democrats repeatably. In fact Barney Frank was asked in 2003 about Fannie Mae troubles and is recorded to say there are no problems with it. YIKES,HE was helping run it. Now he says its the Evil Republicans that didn't do nothing. Ask youself a question, when did Republicans ever become that Liberal as to agree basically to free housing, giving loans to anyone that could walk into a bank and able to stand straight. The stand straight sentence is Quoted from Robert B. Reich former advisor to Bill Clinton, he even said Democrats to blame!!

BoB of IL 9:51AM September 29, 2008

It is time to kick out Pelosi, Reid and Frank. They as well their cohorts have contributed greatly to the financial mess we are in. They have never seen a dollar that belongs to other people that they don't enjoy spending. When will this reign of spending on special interests stop. Not until the American taxpayer stands up and says "No More". Not a day sooner!

Stan Grainger of PA 7:53AM September 29, 2008