"I hope by next year we'll have abolished Fannie and Freddie,....it was a great mistake to push lower-income people into housing they couldn't afford and couldn't really handle once they had it....I had been too sanguine about Fannie and Freddie."
Barney Frank to Larry Kudlow
Well, now that we have a housing meltdown he realizes that his policies were a mistake. Great.
Thanks Barney!!
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5 comments:
That is so ironic, considering that when the Bush administration tried to raise the alarm about Fannie and Freddie, old Bwarnwey was their biggest defender. He is likely the single person that is the most responsible for the current recession.
Matt:
You are leaving out Chris Dodd. He is just as responsible.
Also, Barney was sleeping with the head of Fannie at that time as well.
And to think it only cost us a few trillion dollars!
Bawny sure does look good with bling. I think it gives him more class than he deserves.
Fannie Mae's mission statement said it was there to "democratize home ownership". Another case of social engineering failure. Will those who think government is the answer ever learn?
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