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Bill scott
SFN Addict
USA
2103 Posts |
 Posted - 10/02/2008 : 05:44:25
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Interesting. Notice how back in 2003 the BUSH ADMINISTRATION and Congressional Republicans wanted to set up a department to supervise Freddie and Fannie but Barney Frank, as chairman of the HFSC and a dem, voted down the measure stating that:
"These two entities, Fannie Mae and Freddie Mac, are not facing any kind of financial crisis."
and
"The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing."
So as the chairman of the HFSC this clown is pushing and mandating that lending institutions carry so many many high risk mortgages that were given out to people who could not afford them. They then take these time bomb mortgages and sell them off to Freddie and Fannie.
Now if any Republican dare question this practice they are labeled the Big Bad Republicans who hate and trample over poor people.
If you dared question Franklin Raines, CEO of Fannie and Clinton appointee and one who has raked in millions and millions of dollars from Fannie, or the status of Fannie, then you are labeled a racist who is trumping up charges as according to HFSC Chairman Barney Frank "Fannie or Freddie are not in any kind of financial crisis." Nice...
Then to top it all off after being warned that Freddie and Fannie were on a doomsday course and his complete dismissal of the warning he runs around spouting off how we was instrumental in the bill that will allegedly clean up the mess that he had a big roll in creating?!?!?!?!?!?!?!?!?!?
And the people eat this up with a spoon!!!!!
Oh Barney Frank is a man of the people who takes on the big bad repubs and Bushie, yeah Barney!!!!!!!! Vote him in for another 30 years of politics. Yeah Barney!!!!
Bow to Leper Messiah.....
As Chairman of the House Financial Services Committee, Frank "sits at the center of power". Thomas Mann, a senior fellow at the Brookings Institution, was quoted as saying, "He is one of the giants of Congress, a real legislator," in his new role.
In 2003, Frank opposed Bush administration and Congressional Republican efforts for the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis. Under the plan a new agency would have been created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that were the two largest players in the mortgage lending industry. "These two entities, Fannie Mae and Freddie Mac, are not facing any kind of financial crisis," Frank said. He added, "The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing."
As chairman, Frank steered the major housing relief bill of 2008 to passage, which aims to protect thousands of homeowners from foreclosure. This law, H.R. 3221, The American Housing Rescue & Foreclosure Prevention Act, was the most important and complex issues on which he worked. During the 2008 Session, Frank was instrumental in negotiations for the $700 Billion Stock Market Plan.
http://en.wikipedia.org/wiki/Barney_Frank
http://en.wikipedia.org/wiki/Franklin_Raines
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"Lets get one thing clear, Bill. Science does make some assumptions." -perrodetokio-
"In the end as skeptics we must realize that there is no real knowledge, there is only what is most reasonable to believe." -Coelacanth-
The fact that humans do science is what causes errors in science. -Dave W.-
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Edited by - Bill scott on 10/02/2008 07:28:20
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Cuneiformist
The Imperfectionist
USA
4955 Posts |
Posted - 10/02/2008 : 08:00:47 [Permalink]
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| Who are you, and what have you done with Bill scott? |
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Bill scott
SFN Addict
USA
2103 Posts |
Posted - 10/02/2008 : 08:27:50 [Permalink]
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Originally posted by Cuneiformist
Who are you, and what have you done with Bill scott?
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I am not following you here. |
"Lets get one thing clear, Bill. Science does make some assumptions." -perrodetokio-
"In the end as skeptics we must realize that there is no real knowledge, there is only what is most reasonable to believe." -Coelacanth-
The fact that humans do science is what causes errors in science. -Dave W.-
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Cuneiformist
The Imperfectionist
USA
4955 Posts |
Posted - 10/02/2008 : 08:53:36 [Permalink]
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Originally posted by Bill scott
Originally posted by Cuneiformist
Who are you, and what have you done with Bill scott?
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I am not following you here.
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Clearly not. It's an old joke, but I guess it hasn't made it all the way around, yet...
Oh well. |
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Bill scott
SFN Addict
USA
2103 Posts |
Posted - 10/02/2008 : 09:44:49 [Permalink]
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Originally posted by Cuneiformist
Originally posted by Bill scott
Originally posted by Cuneiformist
Who are you, and what have you done with Bill scott?
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I am not following you here.
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Clearly not. It's an old joke, but I guess it hasn't made it all the way around, yet...
Oh well.
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But you have nothing to say on Barney Frank and his untouchable status? |
"Lets get one thing clear, Bill. Science does make some assumptions." -perrodetokio-
"In the end as skeptics we must realize that there is no real knowledge, there is only what is most reasonable to believe." -Coelacanth-
The fact that humans do science is what causes errors in science. -Dave W.-
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| Edited by - Bill scott on 10/02/2008 09:45:53 |
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Dude
SFN Die Hard
USA
6891 Posts |
Posted - 10/02/2008 : 11:08:55 [Permalink]
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Billy.... you are, once again, suffering from delusion.
You said:
Interesting. Notice how back in 2003 the BUSH ADMINISTRATION and Congressional Republicans wanted to set up a department to supervise Freddie and Fannie but Barney Frank, as chairman of the HFSC and a dem, voted down the measure stating that:
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Lets just take a moment to ponder this...
In 2003 republicans held a majority on the house and the senate. Barney could not have been the chairman of a comitee. Also, the republicans, being the majority, have more people on the comitee than dems.
Therefore, some republicans would have had to cross party lines and vote with Barney in order for him to "vote down" this legislation.
You should seek medical attention Billy. Get on some meds or something.
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Ignorance is preferable to error; and he is less remote from the truth who believes nothing, than he who believes what is wrong.
-- Thomas Jefferson
"god :: the last refuge of a man with no answers and no argument." - G. Carlin
Hope, n.
The handmaiden of desperation; the opiate of despair; the illegible signpost on the road to perdition. ~~ da filth |
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Bill scott
SFN Addict
USA
2103 Posts |
Posted - 10/02/2008 : 12:13:22 [Permalink]
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Originally posted by Dude
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Billy.... you are, once again, suffering from delusion.
You said: |
Interesting. Notice how back in 2003 the BUSH ADMINISTRATION and Congressional Republicans wanted to set up a department to supervise Freddie and Fannie but Barney Frank, as chairman of the HFSC and a dem, voted down the measure stating that: |
Lets just take a moment to ponder this...
In 2003 republicans held a majority on the house and the senate. Barney could not have been the chairman of a comitee. Also, the republicans, being the majority, have more people on the comitee than dems. |
Thanks for catching me in a misspoke. Your correct and I should have injected "current" in front of HFSC.
| Therefore, some republicans would have had to cross party lines and vote with Barney in order for him to "vote down" this legislation. |
But Nancey Pelosi stood on the floor a few days back and said this mess was a result of the Bush administration and it's failed polices.
Yet back in 2003 the Bush administration and an independent investigation acknowledged that Fannie and Freddie were broken and attempted to create a department that would supervise it. In response the current HFSC chairman Barney Frank said this:
"These two entities, Fannie Mae and Freddie Mac, are not facing any kind of financial crisis."
and
"The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing."
So the only conclusion we can come to is that Frank did not know what in the hell he was talking about or he was lying.
http://en.wikipedia.org/wiki/Barney_Frank
So five years later Freddie and Fannie do blow up. Does the HFSC chairman Barney Frank acknowledge that he was wrong or that he lied about the coming collapse?
No. He blames it all on the Bush administration, who's warning he rejected five years earlier, and goes around patting himself on the back for coming up with $700 billion bailout to allegedly fix the mess that he denied even existed.
Does the public or media call him on his antics?
"Barney Frank is Awesome." -Dave W.-
| You should seek medical attention Billy. Get on some meds or something. |
So I can end up like you? No thanks.
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"Lets get one thing clear, Bill. Science does make some assumptions." -perrodetokio-
"In the end as skeptics we must realize that there is no real knowledge, there is only what is most reasonable to believe." -Coelacanth-
The fact that humans do science is what causes errors in science. -Dave W.-
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Dave W.
Info Junkie
USA
26022 Posts |
Posted - 10/02/2008 : 12:24:06 [Permalink]
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Originally posted by Bill scott
No. He blames it all on the Bush administration, who's warning he rejected five years earlier, and goes around patting himself on the back for coming up with $700 billion bailout to allegedly fix the mess that he denied even existed. |
Anyone who's been watching the news saw Bernake and Paulson begging Frank for money, so if Frank is claiming to be the architect of the deal, he's full of crap and he should know that he's very publicly full of crap.| "Barney Frank is Awesome." -Dave W.- |
For a two-line witty rejoinder, not for the bailout. Way to quote-mine, Bill. |
- Dave W. (Private Msg, EMail)
Evidently, I rock!
Why not question something for a change?
Visit Dave's Psoriasis Info, too. |
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Bill scott
SFN Addict
USA
2103 Posts |
Posted - 10/02/2008 : 12:53:29 [Permalink]
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Originally posted by Dave W.
| "Barney Frank is Awesome." -Dave W.- |
For a two-line witty rejoinder, not for the bailout. Way to quote-mine, Bill.
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Your computer should automaticaly go into self-destruct mode just for typing the four words in conjuncture.
You typed it and I quoted it. How could have I passed up a quote such as:
"Barney Frank is awesome." -Dave W.-
...10 minutes after reading a piece where Barney Frank is quoted as saying:
"These two entities, Fannie Mae and Freddie Mac, are not facing any kind of financial crisis." -Barney Frank-
His true "witty" comment.
So if Barney Frank is awesome for his witty remark is he still awesome for his complete dumbass remark or lie?
"These two entities, Fannie Mae and Freddie Mac, are not facing any kind of financial crisis." -Barney Frank- |
"Lets get one thing clear, Bill. Science does make some assumptions." -perrodetokio-
"In the end as skeptics we must realize that there is no real knowledge, there is only what is most reasonable to believe." -Coelacanth-
The fact that humans do science is what causes errors in science. -Dave W.-
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| Edited by - Bill scott on 10/02/2008 12:59:43 |
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Rubicon95
Skeptic Friend
USA
220 Posts |
Posted - 10/02/2008 : 13:36:53 [Permalink]
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Bill,
Barney was not the chairman 2003. He was the ranking Democrat on the Finance Services
committee. The quote used in Wikipedia was from an NYT article in 2003. Barney was on the take
with Freddy and Fannie along with other Reps and Senators from both parties.
C-Span in 2004 televised the OFHEO'sregulator's inquisition. C-SPAN has is archived (need a Real Media Player)to view it.
There is also a youtube video which is very damning of the Democrats but it was editted to make a point. So I'd take that with a degree of skepticism.
I've seen that video Barney called efforts to regulate or improve accounting practices at Fred/Fan a "shibboleth" and also when he reviewed the OFHEO's report he had seen nothing to indicate any danger.
Also I had a chance to download the OFHEO's report. I've been reading it. Trying to understand the math. The conclusions point to Freddy and Fannie had violated General Accepted Accounting Practices.
Fred Raines resigned and paid a hefty fine.
The Republicans Dole, Hagel, Sunnunu, and McCain did sponsor a bill in 2005 to "rein in" Fred/Fan
but that died in committee. It's off in limbo somewhere in a do nothing Congress. (For 3 years)
Now Fred/Fan almost collapsed under the weight of the bad debts and an unregulated portfolio.
Risky investments were taken because Fred/Fan are a GSE. Implying that the gov't (your tax dollars)
would back those investments in case of defaulting.
Baines is now under FBI investigation for fraud. Along with some Wall Street CEO's.
Money, Greed, Power----
Our lovable rep Barney (I am from Taxachusetts) is just a politician in a do nothing Congress.
A Congress that has lower approval ratings than the President. What do you expect from these career politicians and morons. But until other people step up to replace them, they are the best we got for the moment.
If Pelosi's comments (stupid as they were), caused those change in votes. Those Gingriches don't know when to pick a fight.
My sources
YouTube Video
Barney's quote
OFHEO's report
Regulating Fannie and Freddie
NYT Op Saving Fannie and Freddie
Warned for years
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Dave W.
Info Junkie
USA
26022 Posts |
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Dude
SFN Die Hard
USA
6891 Posts |
Posted - 10/02/2008 : 14:57:55 [Permalink]
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Delusional Billy said:
Yet back in 2003 the Bush administration and an independent investigation acknowledged that Fannie and Freddie were broken and attempted to create a department that would supervise it. In response the current HFSC chairman Barney Frank said this:
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Who was in charge of the commitee, the congress, and the exec in 2003? 2005?
Oh, yeah. It was Barney Frank! Evil overlord and shadow dictator.
My bad Billy.
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Ignorance is preferable to error; and he is less remote from the truth who believes nothing, than he who believes what is wrong.
-- Thomas Jefferson
"god :: the last refuge of a man with no answers and no argument." - G. Carlin
Hope, n.
The handmaiden of desperation; the opiate of despair; the illegible signpost on the road to perdition. ~~ da filth |
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Bill scott
SFN Addict
USA
2103 Posts |
Posted - 10/03/2008 : 06:11:29 [Permalink]
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Originally posted by Rubicon95
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Bill,
Barney was not the chairman 2003. He was the ranking Democrat on the Finance Services
committee. |
I know. I thought I clarified that? But he was the chairman when Freddie and Fannie blew up and I think he knew that it was coming but lied and claimed it was not coming.
The quote used in Wikipedia was from an NYT article in 2003. Barney was on the take
with Freddy and Fannie along with other Reps and Senators from both parties. |
Yet he has been in the house since 1981?!?!?!?!?!? This guy lied through his teeth while others tried to rein in Freddie and Fannie!!!!! What could he possibly bring back to his district that these people continually send this man to Washington? Why is this man not in jail?
C-Span in 2004 televised the OFHEO's regulator's inquisition. C-SPAN has is archived (need a Real Media Player)to view it.
There is also a youtube video which is very damning of the Democrats but it was editted to make a point. So I'd take that with a degree of skepticism. |
It was sicking to watch. But how do you edit:
"These two entities, Fannie Mae and Freddie Mac, are not facing any kind of financial crisis."
| I've seen that video Barney called efforts to regulate or improve accounting practices at Fred/Fan a "shibboleth" and also when he reviewed the OFHEO's report he had seen nothing to indicate any danger. |
And so how do you feel then when the speaker of the house says this mess is a result of the Bush administration when you know that any attempt by the Bush administration to supervise Freddie and Fannie was opposed by Frank and his cronies?
| Also I had a chance to download the OFHEO's report. I've been reading it. Trying to understand the math. |
That sounds like fun.
| The conclusions point to Freddy and Fannie had violated General Accepted Accounting Practices. |
You think?
| Fred Raines resigned and paid a hefty fine. |
Franklin paid a hefty fine for a guy making $50K a year. Not a hefty fine for a guy who has pulled in $90 million from the place.
The Republicans Dole, Hagel, Sunnunu, and McCain did sponsor a bill in 2005 to "rein in" Fred/Fan
but that died in committee. It's off in limbo somewhere in a do nothing Congress. (For 3 years) |
But yet according to Pelosi this is a Republican caused issue?
| Now Fred/Fan almost collapsed under the weight of the bad debts and an unregulated portfolio. |
Just as was warned but Frank, Waters, and others said BS.
Risky investments were taken because Fred/Fan are a GSE. Implying that the gov't (your tax dollars)
would back those investments in case of defaulting. |
What has been done to stop this?
Our lovable rep Barney (I am from Taxachusetts) is just a politician in a do nothing Congress.
A Congress that has lower approval ratings than the President. What do you expect from these career politicians and morons. But until other people step up to replace them, they are the best we got for the moment. |
But that is what is so frustrating for me, this is not the best we got!!! I know Massachusetts can do better then Barney Frank.
| If Pelosi's comments (stupid as they were), caused those change in votes. Those Gingriches don't know when to pick a fight. |
I don't trust any of them at this point. You know that ol' saying, "Innocent until proven guilty", right? Not with a single political. I trust none of them and you should as well. |
"Lets get one thing clear, Bill. Science does make some assumptions." -perrodetokio-
"In the end as skeptics we must realize that there is no real knowledge, there is only what is most reasonable to believe." -Coelacanth-
The fact that humans do science is what causes errors in science. -Dave W.-
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Bill scott
SFN Addict
USA
2103 Posts |
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Rubicon95
Skeptic Friend
USA
220 Posts |
Posted - 10/03/2008 : 09:25:49 [Permalink]
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"But that is what is so frustrating for me, this is not the best we got!!! I know Massachusetts can do better then Barney Frank."
uhm... you're not from MA..... I'd like to think we could better but c'mon were the state of the Big Dig... And all of our reps and senators are Democrats.
Barney is known for being really witty.
You can't pin this mess on Barney. Alot of other reps and senators were on the take.
Until we (the voters) remove them, we do what Rummy says, "Go to war with the army we got."
As far as Pelosi and Co, I heard her speech and had to get stitches on my forehead cuz I hit it too hard.
Again this is a do-nothing congress. NOV 2 - we should do what Barack wants and vote for change because "together we can" (Deval Patrick).
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Bill scott
SFN Addict
USA
2103 Posts |
Posted - 10/06/2008 : 05:20:59 [Permalink]
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| Originally posted by Rubicon95 |
| "But that is what is so frustrating for me, this is not the best we got!!! I know Massachusetts can do better then Barney Frank." |
uhm... you're not from MA..... |
I know that. But your 30 year congressman sits on committees and makes bills that impact me. That is why I say we. We need the people of Massachusetts to eject this clown. What pork does he bring home that is enough to keep this clown as your representation for 30 years?
| I'd like to think we could better but c'mon were the state of the Big Dig... And all of our reps and senators are Democrats. |
Why are they reelected?
| Barney is known for being really witty. |
So Dave W. says.
| You can't pin this mess on Barney. Alot of other reps and senators were on the take. |
I never claimed that I could. My only claim is that Pelosi is a clown for trying to pin this on the Republicans and Barney Frank is the poster child in demonstrating that Pelosi's claims are not true.
| Until we (the voters) remove them, we do what Rummy says, "Go to war with the army we got." |
But what frustrates me is that we can fire this army but we don't.
| As far as Pelosi and Co, I heard her speech and had to get stitches on my forehead cuz I hit it too hard. |
I agree.
| Again this is a do-nothing congress. NOV 2 - we should do what Barack wants and vote for change because "together we can" (Deval Patrick). |
You say that but next January Massachusetts will have Kerry, Kennedy, Frank etc... as their representation. Nice... |
"Lets get one thing clear, Bill. Science does make some assumptions." -perrodetokio-
"In the end as skeptics we must realize that there is no real knowledge, there is only what is most reasonable to believe." -Coelacanth-
The fact that humans do science is what causes errors in science. -Dave W.-
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Teflon Barney
