One Guy's Opinion on the Political Scene By: Jim Herndon
It is almost too much to bear: according to a late-breaking news report, “Democrat Representative Barney Frank, chairman of the House Financial Services Committee said Tuesday he hoped to begin writing legislation by early May on overhauling how the federal government regulates the nation's financial system.”
Frank is leading the attack on AIG for their giving management bonuses, where, he signed off on the bailout bill knowing the bonuses were contract in the contract. Frank, aka the banking queen, is one of the individuals responsible for the financial system failure and ensuing stock market plummet and all the rest. He simultaneously gives bureaucrats, homosexuals, and hypocrites a bad name. He vehemently defended the Community Reinvestment Act instructing banks to make sub-prime loans with the government securing those ill-advised loans. President Bush, Senator McCain and other Republican members of congress attempted to force committee hearings that would culminate in legislation that would make drastic changes to Fannie Mae and Freddie Mac and stop the insanity before the banking system failed. Frank and his DemPol cronies blocked all these attempts, and the mortgage banking system did fail, taking with it the derivative market, the housing market, investor confidence, and our economy.
