Oct

Barney Frank feeling heat in crisis

Posted by: Scott @ 4:54 am in Barack Obama, Bush Derangement Syndrome, Economy, John McCain, Politics, Real Estate & Lending, The Clintons

Visited 837 times, 2 so far today

When it comes to the Wall Street meltdown, Rep. Barney Frank is considered the engineer of the financial train wreck, a bostonherald.com instant poll shows.

Frank (D-Newton), chairman of the House Financial Services panel, is plastered with blame even more so than President Bush or former fed chief Alan Greenspan.

Some readers argue all you have to do is click over to YouTube and listen to Frank, in the fall of 2003, swear “Fannie and Freddie (are) not in a crisis!” and are “fundamentally sound financially.”

Whoops, guess not.

Fannie Mae and Freddie Mac have been taken over by the government and are under a grand jury investigation.

More than 5,000 responders to a bostonherald.com poll posted mid-day yesterday are calling for heads to roll:

36 percent state Frank is out in front.
Bush is second with 29 percent for missing red flags.
Greenspan, now knocked off his guru perch, is third with 19 percent blame.
Former President Bill Clinton falls next with 12 percent responsibility.
Barack Obama, 3 percent, and John McCain, 1 percent, escape mostly unscathed, for now.

Herald Pulse
Who is more to blame for the Wall Street meltdown?

20% - George Bush

53% - Barney Frank

3% - Barack Obama

1% - John McCain

10% - Bill Clinton

13% - Alan Greenspan
Poll Closed: 2008-09-30
Total Votes: 7,657

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This entry was posted on Thursday, October 2nd, 2008 at 4:54 am and is filed under Barack Obama, Bush Derangement Syndrome, Economy, John McCain, Politics, Real Estate & Lending, The Clintons. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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13 comments so far

ThomNJ

How much does anyone bet that Frank, Kerry, Dodd and the rest will all get re-elected anyway?

October 2nd, 2008 at 5:02 am

bill-tb

Barney Frank should be singled out as the cause and the Democrat party as the enabler of Barney Frank’s plan to give people who can’t afford it, their own homes. How dumb is that?

Dodd and Frank should be removed from the chairmanship … Republicans should start staging a protest and refuse to attend any meetings until these are removed. Hah don’t hold your breath, tax cheat and criminal Rangel, he isn’t going any where. Macaca I say …

It’s time to dump the CRA , Fannie and Freddie should be dismantled.

October 2nd, 2008 at 5:30 am

gene

If the RNC had any guts at all they would immediately run ads explaining how and who thwarted every attempt by Bush and Mccain to correct this problem way back when. Think they will? I don’t because a lot of republicans are in bed with the libs.

October 2nd, 2008 at 5:53 am

Scott Malensek

Ya never know. The election is just a few weeks away, but it’s a LIFETIME in politics!

October 2nd, 2008 at 6:09 am

jainphx

This country is waiting for a fighter to come onto the political scene, some thought that McCain would fight but he hasn’t yet. This try to get along shiite with people that openly profit from our DEFEATS in war and from graft at tax payers expence is whats absolutely insane. Stand up and FIGHT and watch the reaction. McCain wake up we all want to back you against Obambi, but you make it hard for us when you lay back and take it.

October 2nd, 2008 at 7:30 am

damnifiknow

The more correct poll would read as follows…

Who is more to blame for the Wall Street meltdown?

100% - Politicians (every damn one of them!)

The ones that sat by and let the arsonists set fire to the economy and then didn’t raise the alarm until help arrived to put it out are guilty too! They are guilty of self preservation. Why else would they not climb atop the highest mountain and scream?

Time for Americans to get angry, aware, and assertive. These folks work for us, and we must demand that they do their jobs or resign!

October 2nd, 2008 at 8:31 am

suek

Corruption comes in all sorts of ways, but this man has got to be close to the bottom of the pit.
If you haven’t read this yet, please do. It’s about Franks sexual relationship with the head of Fanny Mae for about 10 years. Not the current period, but nevertheless unacceptable, especially since the relationship was known. It seems as if that might have a reason to make him head of the finance committee instead of a reason _not_ to put him in that position.

http://www.businessandmedia.org/printer/2008/20080924145932.aspx

October 2nd, 2008 at 9:37 am

11B40

Greetings:

With what we know about Representative Frank’s personal proclivities, how could he resist a Fannie? A match made in …

October 2nd, 2008 at 2:12 pm

Sharpshooter

Barney Frank was only the fiasco’s spokesman.

Carter, then Clinton (twice) gave it legs by their idiotic notion that the poor deserved to live like their much more productive fellow citizens.

On this last, the Republicans didn’t, and still don’t, reject that notion. Most every American misses what Ben Franklin meant when he said that poverty should NOT be comfortable, so as to motivate that persons exit from that state.

October 2nd, 2008 at 2:57 pm

Scott Malensek

Pretty cold words:

Most every American misses what Ben Franklin meant when he said that poverty should NOT be comfortable, so as to motivate that persons exit from that state.

…but I have to admit the economic downturn REALLY has people motivated in many different senses; politically, socially, economically, personally, etc.

I actually ran a test ad for one of my books yesterday. Time to look at ways to make some dinero.

October 2nd, 2008 at 3:34 pm

Inngus

I know that O’Reilly just lit him up.

October 2nd, 2008 at 5:45 pm

Neo

The increase from $100,000 to $250,000 was supposed to cover small businesses that could easily have more than $100,000 in the bank.

What I am puzzled about though is that, going back the S&L crisis, I seem to remember that the FDIC insurance was for individuals, not businesses.

Single Accounts (owned by one person): $100,000 per owner
Joint Accounts (two or more persons): $100,000 per co-owner
The FDIC web site is incredible vague
stating that these are the “the most common ownership categories”

If my memory serves me correctly then, the new $250,000 limit would then only act as a safe haven for individuals cashing out of the stock and money markets, which is exactly what the government should be trying to avoid.

October 2nd, 2008 at 7:23 pm

Willys

Congress has failed. Completely. A Congressman says, ‘this is the worst I have seen in my career’. I wonder, what has he been doing during that career.

This bail for the economy is the SUM TOTAL of Congress’s career actions. This is what they have done for us.

The Liberal Congress has engineered a giving away of the store. And today I get an email from MoveOn asking for more money.

OF. ALL. THE. FRAKKIN. GALL.

Goodbye Congressman. Goodbye Senator. Don’t come home, you’re a disgrace.

October 3rd, 2008 at 2:23 pm