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Quote Of The Day - "It's Not Our Fault" Edition

"'These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis. The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing."

Representative Barney Frank (D-MA), Sept. 11, 2003, at the time the ranking Democrat on the Financial Services Committee. This was in response to a proposal by the Bush administration to significantly overhaul regulation of the two companies in the wake of massive financial irregularities at Fannie Mae and Freddie Mac. It's not hard to see why every effort to move regulation of these two quasi-governmental companies under the Treasury Department has failed.


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Comments (15)

It's the fact that Bush poi... (Below threshold)
Dave W:

It's the fact that Bush pointed out the problems that the companies failed! haha. kidding of course. Was just trying to sound like a lefty. Gotta blame Bush somehow.

Barney Frank was actually o... (Below threshold)

Barney Frank was actually on my "Top Ten Reasons to Leave Massachusetts" short list.

Ok Kevin, fair enough. Fra... (Below threshold)

Ok Kevin, fair enough. Frank, his party in the minority said what he said. But what did the party in the majority do about it in 2003, 2004, 2005 and 2006?

As with most all of the problems that come from Washington the responsibility belongs to both parties and to us, the citizens. Our government is owned lock, stock and barrel by special interests for both parties. Until "we the people" wake up and do something about it nothing will change.

"Our government is owned... (Below threshold)

"Our government is owned lock, stock and barrel by special interests for both parties. Until "we the people" wake up and do something about it nothing will change."

And that is exactly why I won't vote for Obama.

But what did the party i... (Below threshold)
Les Nessman:

But what did the party in the majority do about it in 2003, 2004, 2005 and 2006?

Well, the head of that party did this:
"..in response to a proposal by the Bush administration to significantly overhaul regulation of the two companies in the wake of massive financial irregularities at Fannie Mae and Freddie Mac. "

Bush wanted to fix it, the majority of the Dems didn't.

Are you seriously trying to... (Below threshold)

Are you seriously trying to blame . . . . Barney Frank for the country's financial crisis? After 8 years of a Republican president, 6 years of Republican bicameral Congressional control? It's Barney Frank's fault that the U.S. capital markets are coming unhinged? Please be serious.

Ummmm Les....what party was... (Below threshold)

Ummmm Les....what party was in the majority in the years I noted?
Since when did the Republican congress ever fail to do something because the dems were against it? Remember Tom Delay? Remember Dr Frist? Remember Trent Lott?

Just use your google and you'll learn.

Before you comeback with a schoolyard taunt that the dems did the same - I've already addressed that by saying so.

Why is it that folks like you are rarely willing to place responsibility for the messes in this country on both parties?

OysterBut you'll v... (Below threshold)


But you'll vote for McCain? He doesn't know what he was for before he was against it anymore. Have you ever seen a sadder week of ineptness by McCain? In a sense it's sad, in another frightening. I'm seriously beginning to wonder about his mental capacity. HIS FLIP FLOPS make Kerry look like an amateur.

He looks us in the eye and just flat out lies or when he;s caught he changes the subject. Correction after correction after clarification. Any wonder why the bump they received after the convention has disappeared? It seems obvious to me that the bump had everything to do with Palin and nothing to do with McCain. Well guess what, if they win she's not going to be president much as many from the right would wish.

Yes, JFO. I'm still voting... (Below threshold)

Yes, JFO. I'm still voting for McCain. You don't have to like it and you can have your own reasons why you're voting for or against someone too. I have my reasons and to be perfectly honest, I firmly believe McCain, while certainly not perfect, is a better choice between the two. There is plenty with which to criticize both candidates. When I make choices I weigh pros and cons, with consideration to my priorities and who I think our country will overall be best served by.

I don't really feel compelled to justify, in detail, my decisions with anyone here just because they question my judgment using "flip-flops" and "lies" as their basis, when clearly both have changed positions and both have engaged in distortion.

Regardless of what one might think, I've tried earnestly to be honest with myself, even though it's not always expressed here.

Just for the record, I'm not one of those who would vote for McCain because of any likelihood he'll croak and Palin will become President.

People like jfo have always... (Below threshold)
Zelsdorf Ragshaft III:

People like jfo have always said _____ lied. They make the claim yet do not quote the lie. Further, people like jfo (just for obama) surely do not observe or listen to McCain and what he has to say so they get their opinion from a proven liar. That is B. Hussein Obama/Ayers/Alinski. Obama/Ayers/Alinski is a coward who is afraid to face McCain in an open forum debate such as townhalls. He has kept his past a dark secret. Where are his friends or associates from his storied (his story) past to stand up for him. McCain and Palin have them in spades.

Lemme see if I have JFO's "... (Below threshold)

Lemme see if I have JFO's "logic" right:

The Republicans are to be blamed for being right, but not trying hard enough to prove their points.

The Democrats were flat-out wrong, and are to be rewarded for fighting to keep the Republicans from acting on being right.

Is that how it works?


It is amazing how Dems blam... (Below threshold)

It is amazing how Dems blame everyone else but themselves. If the Reps were in charge at the time with a slim majority but the Dems filibuster the reps attempt to do something, it is the Reps fault. If the Dems were in charge and won't even bring the Reps attempts to the floor, it is the Rebs fault. Never the Dems fault but always the Reps and they preach that the Reps need to step up and take responsibilities for everything. When will Dems take responsibility for their own actions?

Mommy, my brother didn't st... (Below threshold)

Mommy, my brother didn't stop me from stealing all those cookies. Its HIS fault!!!!

JNext time try to ... (Below threshold)


Next time try to make sense. Most of the time you're wrong but at least you make sense.

Oyster: I c... (Below threshold)


I can take your first paragraph and your reasoning for why I'm voting for Obama. I respect your decision and can do so while disagreeing with it. I guess that's why we have chocolate and vanilla.

Actually, I was giving very serious consideration to McCain whom I greatly admired at one time. I had decided that if Hillary was nominated I would most likely vote for McCain. Of course I have since changed my view of him.

I'm not naive enough to think that politicians say things they don't really believe during elections. But I see McCain as having pretty much sold out some of the principles thatIi admired in him. I think his choice of Palin was terrible and shows some serious questions about his judgment. I've said before there are some things about her that are very admirable but she is surely not ready for the potential role she could play.

I don't doubt for a minute you give a lot of thought to what you believe in and what your choices are and I don't think you are for Palin with the hope that McCain will croak.






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