Rep. Barney Frank gets quote of the day. When wanting $4 billion for communities to buy foreclosed homes in the housing rescue bill that will include the Fannie Mae-Freddie Mac rescue he said, “It’s 4 billion lousy dollars.”
What’s money when you’re a Congressman?
“Frank Seeks Fannie, Freddie Pay, Dividend Measures”
With an attitude like that, I wonder if I can get Barney to cut me in for a measly $100 Large?
[...] Sean Hackbarth caught Barney Frank (D) declaring the dollar (actually, $4,000,000,000) “lousy”. [...]
I thought Barney was a purple dinosaur.
MM Sez>>> “Isn’t this about what gets spent in Iraq every month?”
Actually, it’s around 10 billion/month.
For the cost of the Iraq War the entire world will be benefit.
In the case of Freddy/Fanny, what Frank is doing is merely trying to keep the spigot open, given the $170 million Feddy/Fanny spent lobbying, well…, Frank and his congressional buddies over the last ten years to keep them from instituting stiffer rules.
To bail out Freddy/Fanny would mean an instant near-doubling of our national debt.
NOT the annual deficit.
The 9-trillion national debt turning into 16-trillion.
Overnight.
THAT is a scenario of complete economic meltdown.
A New-Deal created, federally-sponsored monopoly, it is long past time to get the G’vment OUT of the mortgage protection racket.
The $4 billion is for local governments to buy foreclosed houses. It has nothing to do with Fannie-Freddie. It’s part of the massive big government fix Congress is trying to push on us. Adding the Fannie-Freddie rescue means we should expect plenty of pork to be added to the bill.
Isn’t this about what gets spent in Iraq every month?