RobDownSouth
General Disaster
- Joined
- Apr 13, 2002
- Posts
- 79,006
Barney Frank saved us from those people who wanted to reform Freddie and Fannie and keep minorities from enjoying the "right" to home ownership even in the face of whistleblowers trying to tell him that a collapse was coming and we had to head it off. He was more worried about the elections than he was the economy because the warning was coming from the Bush Administration and they were just a bunch of stupid racists who did not understand the economic multipliers of minority home ownership (even if the could nat afford it). Mark Zandi deserves a lot of blame for his faulty model of for housing loan derivatives based on a model from the 50s which had little to do with packaging loans to people who could not afford them which were quickly sold to Freddie and Fannie.
Awww....look at the Chief try and gaslight derivatives...and a shout out to his old "but...but...Fannie and Freddie" buddies as well!
#HeTriesSooooHard
#Gaslight
