Friday, March 20, 2009

Barney Frank...DC's Most Dangerous Man

It's easy to take potshots at the AIG situation. Giving bonuses to executives(especially retention bonus's - why retain people who've led you into this mess, but I digress) from the once proud American titan seems ridiculous. However, it's has led to high degree of nauseating public statements from both the right and the left who are shocked, shocked by this display of greed.

Of course, left out in this debate is the fact the government knew about the bonus program when they took the company over. They had to and if they didn't it is still more proof they have no business running a business period. The reality is that the bonus program amounts to a tenth of a percent of the overall haul we have given Hank Greenberg's former company. In the scheme of it all it's a sum that is not even worth debating.

What is worth debating is the unsteady hand of Barney Frank. The man who force fed horrible lending programs under good names (E.G., Fairness in Lending Act and Community Reinvestment Act) and used tactical race baiting and the lap dog Washington press to get his way has led us into a major part of the problems we are facing today.

Barney wanted more expansion of home owners (even those that were clearly not qualified) and did it by forcing banks to lend to people who didn't even have to prove their income and deftly quieting their lobby by making Fannie Mae and Freddie Mac the official garbage collector of these bad loans. They then sliced up the loans and exported the garbage into the marketplace at large.

There's plenty of blame to go around with the mess that is going on and there is not one person that deserves to take the fall. However, I personally am tired of listening to Barney scream into the microphone about greedy corporations ruining America when he in fact has a hand in this as much as any slimy ivy league Wall Streeter. Without his Fannie Mae/Freddie Mac crusade things would have been markedly different. He needs to shoulder responsibility for his ham handed leadership since the Lexus Liberals of Boston don't have the werewithal to do it at the polls.

Barney, I'm tired of your socialist leadership and willingness to ignore your role in our current crisis. You're the most dangerous man in government right now and you need to be stopped. America, wake up to the fraud of this man.

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