By Tony Vega
Everyone by now should know that Barney Frank, the Chairman of the House Financial Services Committee was in bed with Fannie Mae & Freddie Mac, literally. Frank resided with his boyfriend Herb Moses in a Washington love pad. Herb Moses was an executive at Fannie Mae.
The role of Frank’s boyfriend was to help develop many of Fannie Mae’s affordable housing and home improvement lending programs. Barney Frank has collected tens of thousands of dollars from Fannie Mae and Freddie Mac in campaign contributions since 1989[1]
"I am the only member of the congressional gay spouse caucus," Moses wrote in the Washington Post in 1991. "On Capitol Hill, Barney always introduces me as his lover."[2]
The willful failure to report Frank's complicity and to expose the failure of members in Washington while our once fundamentally sound economy is crashing along with government-sponsored enterprises speaks volumes as to the double standard of mainstream media and the cowardice of the GOP.
Ideology and the fear of discussing a homosexual relationship trumps sound reasoning. This isn't about Barney Frank's lifestyle, it is about the failure to protect our economy, it is about the complicit actions of a leading member of the Housing Banking Committee.
"These two entities, Fannie Mae & Freddie Mac, are NOT facing any kind of financial crisis."- 2003, Barney Frank (D-MA), the ranking Democrat on the Financial Services Committee[3]
There is certainly enough bipartisan blame to go around regarding the current economic crisis. Our current president let us down by not properly utilizing his bully pulpit, by not effectively leading, by not grabbing the liberals by the ear and exposing their complicity, by having the poor judgment of surrounding himself with snakes.
What did President Bush do to stave off this economical turmoil? To his credit, no pun intended, "Bush introduced the most significant piece of regulatory overhaul in the housing finance industry. Specifically, Bush introduced to Congress a plan for a new agency to supervise Fannie Mae & Freddie Mac"-2003, NYT[3]
What did Obama do? Avert his eyes and took second place behind Senator Dodd in receiving handouts from Fannie Mae and Freddie Mac. Visit article and compelling video of the Fannie Mae CEO begging Obama and the Congressional Black Caucasus (CBC) to help him and his company.
Senator Chris Dodd Chairs the United States Senate Committee on Banking, Housing, and Urban Affairs. Dodd, like Frank denied these firms were in financial crisis. He called the firms "fundamentally strong" said they were in "sound situation" and "in good shape" and to "suggest they are in major trouble is not accurate."[4]
Dodd is the number one recipient in Congress of campaign funds from Fannie Mae and Freddie Mac. Critics also charge that Dodd ignored repeated warnings that the two firms were in need of major reform.[4]
Barack Obama holds the dubious distinction of being the number two recipient of campaign funds from Fannie Mae and Freddie Mac.[3] There is no hiding the stink of the number one and two Congressional members.
After the sub-prime mortgage crisis began, Barack Obama claimed that the mortgages that gave houses to people who could not afford them were a good idea. Even with hindsight and 20/20 vision, Barack Obama's judgment is clouded.
Watch compelling video here:
What did McCain do? Confronted the mess head on before he ran for president and during. McCain is on the record in 2006 and urged his colleagues to act. "If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole."[3]
Many Democrats politicized, lied, and refused to share any of the blame, many even went so far as to malign McCain's record of positive action, while ignoring Obama's inaction if not out right complicity with the CEO's of Fannie Mae. This transparent demagoguery is a continued effort to hoodwink the taxpayer and voter.
Not all Democrats toed the party line. During an ABC interview, Bill Clinton did not criticize McCain for going back to his post to address the crisis and nearly delaying the first presidential debate.
Bill Clinton said, "I presume he [McCain] did that [going back to Washington] in good faith since I know he wanted, I remember he asked for more debates to go all around the country and so I don't think we ought to overly parse that."[5]
McCain challenged Obama to appear at numerous townhall meetings together for off script meetings and debates. Obama refused. Check out side column on blog for Challenge Clock.
Clinton also had this to say, "I think the responsibility that the Democrats have may rest more in resisting any efforts by Republicans in the Congress or by me when I was president, to put some standards and tighten up a little on Fannie Mae and Freddie Mac."
Bill Clinton inspired the powerful ad Rein, check it out:
McCain was highly criticized by Nancy Pelosi, Harry Reid, Barney Frank, Chuck Schumer, and Obama, just to name a few. Obama later described McCain as being erratic. I guess a politician actually putting Country first is erratic behavior for that lot.
A common Obama claim is that McCain votes with Bush 95 percent of the time. The MSM repeats it and the sheep bleats it. What Obama is not telling you is that he (Obama) has voted pretty close to 100 percent in line with fellow Democrats during his brief Senate career.[6]
Bush has a very low approval rating, Nancy Pelosi has an even lower one.[7] A record of failed policies that Obama has nearly voted in accord 100 percent of the time. McCain has a clear record of challenging Bush on serious matters, including on the economy and the war.
1. Barney Frank - Wikipedia, the free encyclopedia
2. FOXNews.com - Lawmaker Accused of Fannie Mae Conflict of Interest - Politics Republican Party Democratic Party Politica..
3. Obama, McCain, and Banks Oh My!
4. Christopher Dodd - Wikipedia, the free encyclopedia
5. Political Radar: Bill Clinton: Don't 'Overly Parse' McCain Request to Delay Debate 6. FactCheck.org
7. CNN Political Ticker
Tuesday, October 7, 2008
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5 comments:
Hey Tony great article. Once again we have to sit through another Presidential election cycle and watch the Republicans not be able get their message out. This financial crisis has Democrats written all over it and yet the Democrats along with the liberal mainstream media also known as campain headquarters for Obama, push George Bush's tax policies of the last eight years as the culprit to all of this and they get away with it. Tax policies under George Bush have absolutely nothing to do with this financial meltdown.
Hey Tony great article. Once again we have to sit through another Presidential election cycle and watch the Republicans not be able get their message out. This financial crisis has Democrats written all over it and yet the Democrats along with the liberal mainstream media also known as campain headquarters for Obama, push George Bush's tax policies of the last eight years as the culprit to all of this and they get away with it. Tax policies under George Bush have absolutely
Hey Tony great article. Once again we have to sit through another Presidential election cycle and watch the Republicans not be able get their message out. This financial crisis has Democrats written all over it and yet the Democrats along with the liberal mainstream media also known as campain headquarters for Obama, push George Bush's tax policies of the last eight years as the culprit to all of this and they get away with it. Tax policies under George Bush have absolutely nothing to do with this meltdown.
Yeah its always the Democratic liberals that got us into this mess I mean they have had the majority (and its a slight majority mind ya) in congress for what 2 years now? I mean the country was rocking before that. All the deregulation that the republican congress passed and Bush allowed was okay..Its funny I remember another example of when one party was in power then another took over then something happened and they blamed it all on the first party.....oh I remember 9/11 and osama bin laden. I mean poor republican president was in office only 9 months not nearly enough time to launch a plan to defeat/catch/kill OBL. It was all Clintons fault. Imagine you worked somewhere and it took you 9 months to fix a problem. I doubt you would have that job. Let me ask every maverick lovin republican one question: do republicans every do anything wrong?
PS Bush's policies played a big role in the problems we have today
good article though Tony
Hey Tim, Thanks for stopping by.
Facts are stubborn things.
The article doesn't suggest it is ONLY the Democrats that caused this mess.
The record is very clear, and I provided the resources to lead you to them.
2003, Bush tried to pass the most "significant regulatory reform to date in order to oversee Fannie Mae & Freedie Mac." The NYT of all rags reported that info.
2003, Barney Frank the ranking Democrat on the Financial Services Committee stated that FM & FM are NOT facing any kind of financial crisis
Senator Chris Dodd shared Frank's assessment.
2005, Obama and the Congressional Black Caucus(CBC) was addressed by the CEO of Fannie Mae. The CEO begged for Obama and the CBC to help him personally & to help his company.
Obama and Dodd went on to receive the most money from Fannie Mae out of all the other members in Congress.
Barack Obama, Dodd, and Frank averted their eyes and abetted these institutions.
2006, McCain urged his colleagues to ACT and warned the president and the nation from the floor of the pending crisis.
Again, facts are stubborn things.
The choice is clear.
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