Friday, October 3, 2008

Barney Frank

Barney Frank, United States House of Representatives, Mass (D)
The articles detailing this guys plan(s) to bail out house debtors are too numerous list, but here are a few. Lets keep an eye on this kook.

By the way,... Frank, the problem is PRICE; gimmicky legislation ain't gonna cut it.

2008-05-15: Barney Frank's bailout would mainly benefit banks
A new bill sponsored by Rep. Barney Frank, chairman of the House Financial Services Committee, directs the Federal Housing Authority (FHA) to buy up loans that are facing foreclosure. If the bill passes, the FHA will guarantee new mortgages at a price 15 percent below the current appraised value of the house. This would require the current lender to take a hit, since it will not get back the full value of the home, but even 85 percent of the full value of the home is likely more than the lender would get by foreclosing. In principle, homeowners will also benefit, since they get to stay in their home with a new lower-interest mortgage.

2008-05-13: FHA Chief Criticizes Rescue Plan
The House of Representatives last week passed a bill championed by House Financial Services Chairman Barney Frank that would enable struggling borrowers to refinance into more affordable loans guaranteed by the government. The legislation would require a significant expansion of the FHA—an idea recently endorsed by Federal Reserve Chief Ben Bernanke.

Paper Economy had an e-mail dialogue going with this nut. Search 'Barney Frank' to find the articles at Paper Economy.

2008-09-24: Barney Franks -- Asstard of the Year
Is this guy making it up as he goes along?? He need to be behind bars.

2008-10-02: O'Reilly vs Frank
Barney, GO AWAY!!!!!

2008-10-04: Who else gave Barney big money?

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