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Barney Frank Leading The Charge For A Second Housing Crisis

Posted by Casey on June 24, 2009

Barney Frank
Image via Wikipedia
Given that Barney Frank is one of the 5 people most responsible for the current housing collapse … how could anyone take him seriously anymore? Especially when he hasn’t learned his lesson, and is working to repeat history.
clipped from www.reuters.com
Two U.S. Democratic lawmakers want Fannie Mae and Freddie Mac to relax recently tightened standards for mortgages on new condominiums, saying they could threaten the viability of some developments and slow the housing-market recovery, the Wall Street Journal said.
In March, Fannie Mae (FNM.N)(FNM.P) said it would no longer guarantee mortgages on condos in buildings where fewer than 70 percent of the units have been sold, up from 51 percent, the paper said. Freddie Mac (FRE.P)(FRE.N) is due to implement similar policies next month, the paper said.
In a letter to the CEO’s of both companies, Representatives Barney Frank, the chairman of the House Financial Services Committee, and Anthony Weiner warned that a 70 percent sales threshold “may be too onerous” and could lead condo buyers to shun new developments, according to the paper.
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3 Responses to “Barney Frank Leading The Charge For A Second Housing Crisis”

  1. Ted Noland said

    Why is Barney Frank and or Chris Dodd not in jail?

  2. ndainfo said

    Bunny Fwank is the lobbyists puppet, the lobbyists from financial industry that is. The same guys that own the courts and the US government.

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