Barney Frank Wreaks Havoc


Today’s must-read article comes from Investor’s Business Daily, via Bernie Goldberg on Twitter (thanks, Bernie!).

How can you go wrong with an article recommended by Bernie, which quotes Thomas Sowell extensively, and calls out Barney Frank, ACORN, and the mainstream media for their various sins? You simply can’t. Read on.

Media: They laugh at his jokes. They say he’s the smartest guy in Congress. And 90% of them agree with him politically. Small wonder the havoc Barney Frank wreaks on the economy gets so little attention.

How we got into this, the worst economic fix since the Great Depression, is the most monumental question of our time. Yet despite the information that we and other non-mainstream media have put out, people still haven’t connected the dots.

This was driven home again last week, when it was disclosed that Frank, who is chairman of the House Financial Services Committee, wants standards for mortgages on new condominiums to be relaxed.

Yet back in 2003, Sowell notes, Frank was arguing that the federal government had “probably done too little rather than too much to push (Fannie and Freddie) to meet the goals of affordable housing.”

Sowell quoting Frank: “I would like Fannie and Freddie more deeply into helping low-income housing and possibly moving into something that is more explicitly a subsidy. I want to roll the dice a little bit more in this situation.”

Now Frank is back at the craps table, pushing for another relaxation of Fannie and Freddie loan standards. Yet the media, which seem oblivious to the history of the housing meltdown, apparently see no connection.

Until they make the connection, the public at large will never realize it was Big Government, with its horribly conceived and executed programs, that created the mess in which we find ourselves. And it’ll be the public at large that will continue to suffer the devastation of future programs — whether they target housing, banking, energy or health care.

You’ll definitely want to read the whole thing.



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