In a district far, far away could come the biggest upset in this election cycle - the firing of Barney Frank (D-Fannie Mae) who is perhaps the chief enabler of the housing meltdown via the Democrat inventions of the subprime mortgage. Barney Frank has taken to the one thing he has left - lying about his record. From Thomas Sowell via The Detroit News: Barney Frank rewrites history to save himself
You would be hard pressed to find a politician who is less frank than Congressman Barney Frank.
Even in an occupation where truth and candor are often lacking, Frank is in a class by himself when it comes to rewriting history in creative ways. Moreover, he has a lot of history to rewrite in his re-election campaign this year.
No one contributed more to the policies behind the housing boom and bust, which led to the economic disaster we are now in, than Congressman Barney Frank.
His powerful position on the House of Representatives' Committee on Financial Services gave him leverage to force through legislation and policies which pressured banks and other lenders to grant mortgage loans to people who would not qualify under the standards which had long prevailed, and had long made mortgage loans among the safest investments around.
All this was done in the name of promoting more home-ownership among people who had neither the income nor the credit history that would meet traditional mortgage lending standards.
As I wrote just recently: Barney Frank 2003: "Fannie, Freddie not in crisis." Barney Frank 2010: I never said that and YouTube doesn't exist.