What happened to Barney Frank's promise

[ccbatson]

To investigate Freddie and Fannie after the election, that is.

[jams]

Can you prove he isn't?

[4real]

Maybe when Barney Frank found out that Obama's crooked cheif of staff, "dead fish" R. Emanuel, took over $16 million in three years from FNMA, the quasi government corrupted entity.
Also it was the usual head fake to take the heat off himself [[Frank), Dodd, Obama, Reid, Pelosi, Acorn and the real source of why so many bad loans were bought by FNMA FMAC.

[Gistok]

^^^^
Do you have a reputable source?

Or is this just a "someone must have said it or I wouldn't be repeating it" comment?

[4real]

I erred,
Clinton's going-away gift to Emanuel was a seat on the quasi-governmental Freddie Mac board, which paid him $231,655 in director's fees in 2001 and $31,060 in 2000.
In 14 months to sit on a few meetings and tottalling 320,000 in all.
According to the Chi Trib, he didn't do anything.
"FMAC misreported profits by billions of dollars in order to deceive investors between the years 2000 and 2002 ". Right at the time he was on the board, hmmmm.

The begginning of the financial meltdown at FMAC and FNMA

He actually earned over 18 million in two years as an investment banker [[Wasserstein Perella & Company) for being a so called advisor, or person with connections.


here's a couple of liberal media outlets
http://www.chicagotribune.com/news/p...,5682373.story
http://www.nytimes.com/2008/12/04/us...nuel.html?_r=1
http://abcnews.go.com/Blotter/story?id=6201900

[ccbatson]

He [[Frank) promised hearings, not biased reports. Problem is, how could he hold hearings and be interrogated by the committee that he chairs at the same time?

[rb336]

Frankly, I don't recall him promising to hold hearings. maybe he did. maybe they are scheduled. maybe they should be a small part of the larger inquiry into the fiasco of which they were a VERY small part, and definitively NOT a causal one

[Flanders]

Seems to me that there is enough culpability for the Fannie/Freddie meltdown to go around in both parties, Republican and Democrat, despite RWers usual habit of pointing the finger of blame at the socialist left for everything that is or has gone wrong in the US since FDR was in office. The following long report from 3/14/03 by the Executive Intelligence Review indicates otherwise, with the Bush administration demanding the resignation of Armando Falcon and a failed attempt to install Mark Brickell as his successor as the head of the OFHEO:

Official Axed-Exposed Threat of US Housing Bubble Collapse

"A new government report showing the underlying weakness of the U.S. housing market and financial system, and an immediate demand by Wall Street that the head of the reporting agency be fired, has revealed a bruising and fight in Washington over a critical subject: the increasing rate of the financial disintegration, and what is to be done about it. The fight also shows the desperation of the Wall Street-City of London financier oligarchy, and the thuggery to which it will resort, to silence criticism and defend its unsalvageable, bankrupt financial system."

"On Feb. 4, the Office of Federal Housing Enterprise Oversight [[OFHEO), which has oversight over the two giant housing-finance enterprises known as Fannie Mae and Freddie Mac, released a report entitled, "Systemic Risk: Fannie Mae, Freddie Mac and the Role of OFHEO." Its report examined the potential for the generation of a systemic crisis at Fannie and/or Freddie."

~snip~

"The report set into motion a shockwave through the financial community. Sharon McHale, a Freddie Mac spokeswoman, told the Feb. 6 Washington Post, that the report's "doomsday scenario was so speculative, it's just incredible." But the full wrath came from the highest levels of the London-Wall Street banking community, which struck hard."

"On Feb. 5, a mere 24 hours after the report's issuance, the Bush Administration demanded that OFHEO Director Armando Falcon submit his resignation. Falcon, who been appointed to this post in 1999 by President Bill Clinton, had overseen the report's release. While the Bush Administration delivered the order for Falcon to resign, both the circumstances of the firing and subsequent events make it clear that the actual order for the firing originated from inside the boardroom of J.P. Morgan Chase—the world's largest derivatives bank with $29 trillion in derivatives outstanding—and the boardrooms of other major institutions that are heavily invested in derivatives and housing market paper."

[ccbatson]

Welcome DetroitRoch.

Maybe somebody in the conservative media will slip by Frank's guard and get him on tape confronted with the question.

[firstandten]

If they did it would just be dismissed as a video tape doctored up in order to set up a "good democrat" for the fall.

Look at Rangel. This man is a monster that uses minorities to gain wealth. He doesnn't care about the state of residents in Harlem. Not one bit.

Look at Jesse jackson Jr. He is looking at a huge bid for trying to purchase the senatorial seat and he will probably get away with it because of his connections.

But this corruption is not only in the democratic party. The Alaskan senator was guilty and got off. Probably not as bad as they made it out to be but never the less, he stole our money and screwed our trust like these other morans.

This is why people gathered for these Tea Parties to protest the raping of our country and its citizens and residents.

What we need to do is march on Washington and demand every single politician step down and elect real people to office.

Of course some cynicist out here will say whats to stop the corruption from a new administration.
I'll tell u what. The promise of life in prison if found guilty of stealing from the country and its people.

If we had a seperate citizen's panel to oversee our elected officials and keep them honest you would see that all of a sudden that 9 trillion dollar debt we owe would turn into a positive.

The lobbyist are the grease that keeps the wheels running in DC. True political reform will need to address this in a big way. This is not a Dem or Repub thing its a political issue and it doesn't matter who you put in office. Just like we work to live another day, politicans work to get re-elected and you need money for that. The tea baggers showed a lot of misunderstanding on that issue as well as about 10 others that they were protesting about.