Home > Opinion > Sam Dealey > Barney Frank's Fannie and Freddie Racism Regarding the Financial Crisis

Barney Frank's Fannie and Freddie Racism Regarding the Financial Crisis

Reader Comments
Back to blog

Lying about something this serious is treason.
So its not racism to say that blacks demanded mortgages that they didn’t have to pay back?
The lie is that Barney Frank forced mortgage companies to give mortgages to blacks who were not expected to pay back the mortgages.
Let me expose the traitors who blame Barney Frank. He tried to reign in the mortgage companies but the Republicans blocked him.
NJ: Any other Democrats?
Griffith: Well, [Rep.] Barney Frank [of Massachusetts]. The Senate Banking Committee produced a very good bill in 2004. It was S. 190 and never got to the Senate floor. Then the House introduced a bill, which it passed, but we couldn't get a bill to the floor of the Senate. Then after the 2006 election when everyone thought FM Policy Focus's issues would be tough sledding with Democrats in the majority, Barney Frank, as the new chairman of the House Financial Services Committee, stepped up and said, "I am convinced we need to do something." He sat down with Treasury Secretary Hank Paulson and frankly upset people in the Senate and Republicans in the House. But they came up with a bill that was excellent, and it was the bill that largely became law.

James Briggs of CT 7:05AM October 25, 2008

If Barney Frank wasn't so interested In his boy friend at F&F maybe he would have done his job better and we would not be in the mess were In. Barney Frank, Chris Dodd, Nancy Palossi, Obama should be taken out of the Senate. Chris Dodd, Obama should be made to give back any monies they have taken from F&F and to appoligze to the American people and should be impeached. The democrats need only to look in their back yards for this financial problem.

Marie Grippy of CO 12:57PM October 22, 2008

I am a large man that grew up on the street and have always been able to defend myself and my loved ones. In my 55 years of life I have not been so frightened as I am now since my time as a young boy when I was required to practice hiding under my desk at school in peparation for some type of nuclear attack. I am so angry at the politicians, myself and my fellow Americans for allowing these pinheads to run our country into the ground. I believe in fairness and justice for all men. However, I refuse to allow myself to be treated unfairly and unjustly to fulfill someone elses definition of what is just and fair for others. It is my belief that no matter who wins the election we are in for a world of hurt. Until all of us quit speaking and writing about how angry we are and take action to take back our country from all of the attorneys in Washington things will never change.

Stan of PA 10:50AM October 22, 2008

I am a large man that grew up on the street and have always been able to defend myself and my loved ones. In my 55 years of life I have not been so frightened as I am now since my time as a young boy when I was required to practice hiding under my desk at school in peparation for some type of nuclear attack. I am so angry at the politicians, myself and my fellow Americans for allowing these pinheads to run our country into the ground. I believe in fairness and justice for all men. However, I refuse to allow myself to be treated unfairly and unjustly to fulfill someone elses definition of what is just and fair for others. It is my belief that no matter who wins the election we are in for a world of hurt. Until all of us quit speaking and writing about how angry we are and take action to take back our country from all of the attorneys in Washington things will never change.

Stan of PA 10:49AM October 22, 2008

I don't see this as racism, I see it as taking advantage of people who are poor. If you are poor, have trouble making ends meet, are then a bit late on any bills, well, your insurance rates, interest rates and just about everything else is set at a different level because you are a 'high risk." Being Black doesn't apply, it is poverty.
Now, we are going to be given a good old fashioned bit of reverse-discrimination: those of us who managed to keep our noses relatively clean are going to be punished with higher taxes both by taking the cap off social security AND raising taxes wherever possible; as long as it is NOT to anyone who would vote for Obama, we will have our taxes raised.
I cannot believe the craziness of the media at the moment. I finally found Mr. Dealy, and I have some sense of comfort because he seems to be consistently thinking about what is going on instead of giving Obama the 'huzzah.' for being a bit African.
I feel foolish that I give Mr. Lamb the reporter who says that Obama isn't African American, but Arab, a bit of credence when the mainstream media doesn't, but I have thought about it, the definition of narcissistic personality disorder and the article in the WaPost about Obama's ascent to power and I am taken aback.
We could honestly end up with a real psychologically damaged person in the White House, more than Bush, even and it will be because we weren't allowed to look or speak about him closely because of the color of his skin.
Racism will damage America from either end; because we want to be fair or because we are racist. The irony is mind numbing.

Abby of MI 3:02PM October 20, 2008

Maybe it is not so much the unsustainable level of housing prices but instead Fannie Mae and Freddie Mac approving loans levels to people who could not afford them. Those people should never had been in that kind of debt to begin with except for the greed of the CEO's - one who made 90 million dollars in just 3 years (and an Obama supporter and contributor). How can you just dismiss all the kickbacks given to Barney, Obama,
Dodd etc? None of those people have had to deal with any consequences while all of us are left holding the bag. We need them out of power -

laura of MT 10:10PM October 17, 2008

I like the way you think, and I'm glad you were the one to say it. I've been biting my tongue all day.

Ken Hill of AK 8:53PM October 14, 2008

Low interest rates have nothing to do with the crises but a tight control was not in place. The warning did not do any good because Barnie Frank and his associates need to be re-elected by the vast majority they part for. Lets face the truth ; In the history of men, dictators took advantage of the existing conditions to gain power, not the right choice but the anger of the moment determined its consequences. Democrats, specially liberal democrats, have the urge to replace a system that was proven to be correct and well working. Democrats always took from the rich and distributed to the poor. Well! What's wrong here is that poor are treated as incapable or perhaps lazy to benefit frm a free world and succeed in prosperity. If all men will produce and help others to do the same then we are going forward well advancing with our society.

ELA of NV 12:29PM October 13, 2008

You are right on point. It's been a democratic congress for the years that there should have been oversight. The Democrates in this case did not want oversight or restrictions.
I believe that in 2005 our "windbag" Senator Frank killed a bill that would have put restrictions and/or oversight on Fannie Mae and Freddie Mac. It also has come to my attention that Greenspan "warned" Congress years ago that there should be
oversight. Also, I believe that the deregulation of banks was another loss of oversight and should have not happened.
In having the government control our financial future and not letting the market work, we will be a socialistic nation and be controlled by the government and not by the people and for the people. It will be those "in power" as Barney Frank. In Mass.
they still believe in the King and the Throne theory.

Marlene Baker of NV 5:33PM October 12, 2008