Bankers Get $4 Trillion Gift From Barney Frank

[SK in CV]

[quote=SD Realtor]
Anyone who turns a blind eye to see how much Frank and Dodd have actively participated in the housing bubble is in serious denial.[/quote]

Be real specific here please. How did Dodd or Frank participate in the housing bubble any more than the rest of congress or the governmental agencies in charge of oversight?

(and Frank’s claim that the GSE’s were in good shape did not cause the bubble. It was ingnorant and misinformed.)

[briansd1]

[quote=SK in CV]A bit off-topic, since the bill referred to in the original post barely even resembles the bill that actually passed, but if anyone’s interested in reading a good review of the bill that actually passed, prepared in an academic fashion, well cited and footnoted, it can be found at the following link. I call it “academic fashion” because it is not an academic paper. It is, nonetheless, well written.

http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1664684

(Click on the link, then on “one click download” at the top of the page.)[/quote]

Thanks for the link to an excellent article.

Democrats in the House and Senate finally agreed on a financial regulation bill, which
Republicans almost uniformly opposed. In a sense, the ideological dispute is between consumer
protection versus “big bank” protection. The rationale for Republican opposition seems to be that the current bill does not deal with Fannie Mae and Freddie Mac; according to the Republicans, these entities, and the Community Reinvestment Act, were the cause of the subprime crisis. However, as this article demonstrates, it was the “big banks,” by funding the subprime lenders, buying their mortgages and securitizing them, slicing them to form CDOs and synthetic CDOs through derivatives, and leaningon the credit rating agencies to get AAA ratings for junk, there were the primary cause of the financial crisis.

The GSEs were only a small part in the scheme.

[briansd1]

[quote=SK in CV]A bit off-topic, since the bill referred to in the original post barely even resembles the bill that actually passed, but if anyone’s interested in reading a good review of the bill that actually passed, prepared in an academic fashion, well cited and footnoted, it can be found at the following link. I call it “academic fashion” because it is not an academic paper. It is, nonetheless, well written.

http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1664684

(Click on the link, then on “one click download” at the top of the page.)[/quote]

Thanks for the link to an excellent article.

Democrats in the House and Senate finally agreed on a financial regulation bill, which
Republicans almost uniformly opposed. In a sense, the ideological dispute is between consumer
protection versus “big bank” protection. The rationale for Republican opposition seems to be that the current bill does not deal with Fannie Mae and Freddie Mac; according to the Republicans, these entities, and the Community Reinvestment Act, were the cause of the subprime crisis. However, as this article demonstrates, it was the “big banks,” by funding the subprime lenders, buying their mortgages and securitizing them, slicing them to form CDOs and synthetic CDOs through derivatives, and leaningon the credit rating agencies to get AAA ratings for junk, there were the primary cause of the financial crisis.

The GSEs were only a small part in the scheme.

[briansd1]

[quote=SK in CV]A bit off-topic, since the bill referred to in the original post barely even resembles the bill that actually passed, but if anyone’s interested in reading a good review of the bill that actually passed, prepared in an academic fashion, well cited and footnoted, it can be found at the following link. I call it “academic fashion” because it is not an academic paper. It is, nonetheless, well written.

http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1664684

(Click on the link, then on “one click download” at the top of the page.)[/quote]

Thanks for the link to an excellent article.

Democrats in the House and Senate finally agreed on a financial regulation bill, which
Republicans almost uniformly opposed. In a sense, the ideological dispute is between consumer
protection versus “big bank” protection. The rationale for Republican opposition seems to be that the current bill does not deal with Fannie Mae and Freddie Mac; according to the Republicans, these entities, and the Community Reinvestment Act, were the cause of the subprime crisis. However, as this article demonstrates, it was the “big banks,” by funding the subprime lenders, buying their mortgages and securitizing them, slicing them to form CDOs and synthetic CDOs through derivatives, and leaningon the credit rating agencies to get AAA ratings for junk, there were the primary cause of the financial crisis.

The GSEs were only a small part in the scheme.

[briansd1]

[quote=SK in CV]A bit off-topic, since the bill referred to in the original post barely even resembles the bill that actually passed, but if anyone’s interested in reading a good review of the bill that actually passed, prepared in an academic fashion, well cited and footnoted, it can be found at the following link. I call it “academic fashion” because it is not an academic paper. It is, nonetheless, well written.

http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1664684

(Click on the link, then on “one click download” at the top of the page.)[/quote]

Thanks for the link to an excellent article.

Democrats in the House and Senate finally agreed on a financial regulation bill, which
Republicans almost uniformly opposed. In a sense, the ideological dispute is between consumer
protection versus “big bank” protection. The rationale for Republican opposition seems to be that the current bill does not deal with Fannie Mae and Freddie Mac; according to the Republicans, these entities, and the Community Reinvestment Act, were the cause of the subprime crisis. However, as this article demonstrates, it was the “big banks,” by funding the subprime lenders, buying their mortgages and securitizing them, slicing them to form CDOs and synthetic CDOs through derivatives, and leaningon the credit rating agencies to get AAA ratings for junk, there were the primary cause of the financial crisis.

The GSEs were only a small part in the scheme.

[briansd1]

[quote=SK in CV]A bit off-topic, since the bill referred to in the original post barely even resembles the bill that actually passed, but if anyone’s interested in reading a good review of the bill that actually passed, prepared in an academic fashion, well cited and footnoted, it can be found at the following link. I call it “academic fashion” because it is not an academic paper. It is, nonetheless, well written.

http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1664684

(Click on the link, then on “one click download” at the top of the page.)[/quote]

Thanks for the link to an excellent article.

Democrats in the House and Senate finally agreed on a financial regulation bill, which
Republicans almost uniformly opposed. In a sense, the ideological dispute is between consumer
protection versus “big bank” protection. The rationale for Republican opposition seems to be that the current bill does not deal with Fannie Mae and Freddie Mac; according to the Republicans, these entities, and the Community Reinvestment Act, were the cause of the subprime crisis. However, as this article demonstrates, it was the “big banks,” by funding the subprime lenders, buying their mortgages and securitizing them, slicing them to form CDOs and synthetic CDOs through derivatives, and leaningon the credit rating agencies to get AAA ratings for junk, there were the primary cause of the financial crisis.

The GSEs were only a small part in the scheme.

[SD Realtor]

SK I do not need to sit and dig through the internet to come up with legislation Dodd and Frank worked on to champion homeownership and help make credit for anyone. It may be an accusatory statement by me but I know it to be true.

Barney Frank is the freeking head of the senate finance committee and if you think it is okay for a guy in that position to be ignorant and misinformed, (those were your words) then that is pathetic. To tolerate that sort of performance by someone in that position is quite simply a joke. Furthermore to let someone who already was stated to make ignorant and misinformed statements continue to author legislation of this magnitude falls into the category of dumb and dumber.

If you think he is working in your best interest then I do feel sorry for you.

[SD Realtor]

SK I do not need to sit and dig through the internet to come up with legislation Dodd and Frank worked on to champion homeownership and help make credit for anyone. It may be an accusatory statement by me but I know it to be true.

Barney Frank is the freeking head of the senate finance committee and if you think it is okay for a guy in that position to be ignorant and misinformed, (those were your words) then that is pathetic. To tolerate that sort of performance by someone in that position is quite simply a joke. Furthermore to let someone who already was stated to make ignorant and misinformed statements continue to author legislation of this magnitude falls into the category of dumb and dumber.

If you think he is working in your best interest then I do feel sorry for you.

[SD Realtor]

SK I do not need to sit and dig through the internet to come up with legislation Dodd and Frank worked on to champion homeownership and help make credit for anyone. It may be an accusatory statement by me but I know it to be true.

Barney Frank is the freeking head of the senate finance committee and if you think it is okay for a guy in that position to be ignorant and misinformed, (those were your words) then that is pathetic. To tolerate that sort of performance by someone in that position is quite simply a joke. Furthermore to let someone who already was stated to make ignorant and misinformed statements continue to author legislation of this magnitude falls into the category of dumb and dumber.

If you think he is working in your best interest then I do feel sorry for you.

[SD Realtor]

SK I do not need to sit and dig through the internet to come up with legislation Dodd and Frank worked on to champion homeownership and help make credit for anyone. It may be an accusatory statement by me but I know it to be true.

Barney Frank is the freeking head of the senate finance committee and if you think it is okay for a guy in that position to be ignorant and misinformed, (those were your words) then that is pathetic. To tolerate that sort of performance by someone in that position is quite simply a joke. Furthermore to let someone who already was stated to make ignorant and misinformed statements continue to author legislation of this magnitude falls into the category of dumb and dumber.

If you think he is working in your best interest then I do feel sorry for you.

[SD Realtor]

SK I do not need to sit and dig through the internet to come up with legislation Dodd and Frank worked on to champion homeownership and help make credit for anyone. It may be an accusatory statement by me but I know it to be true.

Barney Frank is the freeking head of the senate finance committee and if you think it is okay for a guy in that position to be ignorant and misinformed, (those were your words) then that is pathetic. To tolerate that sort of performance by someone in that position is quite simply a joke. Furthermore to let someone who already was stated to make ignorant and misinformed statements continue to author legislation of this magnitude falls into the category of dumb and dumber.

If you think he is working in your best interest then I do feel sorry for you.

[SK in CV]

[quote=SD Realtor]SK I do not need to sit and dig through the internet to come up with legislation Dodd and Frank worked on to champion homeownership and help make credit for anyone. It may be an accusatory statement by me but I know it to be true.

Barney Frank is the freeking head of the senate finance committee and if you think it is okay for a guy in that position to be ignorant and misinformed, (those were your words) then that is pathetic. To tolerate that sort of performance by someone in that position is quite simply a joke. Furthermore to let someone who already was stated to make ignorant and misinformed statements continue to author legislation of this magnitude falls into the category of dumb and dumber.

If you think he is working in your best interest then I do feel sorry for you.[/quote]

So….you really got nothing other than a single statement? Just lotta political rhetoric, but nothing specific?

That’s kinda what I thought.

[SK in CV]

[quote=SD Realtor]SK I do not need to sit and dig through the internet to come up with legislation Dodd and Frank worked on to champion homeownership and help make credit for anyone. It may be an accusatory statement by me but I know it to be true.

Barney Frank is the freeking head of the senate finance committee and if you think it is okay for a guy in that position to be ignorant and misinformed, (those were your words) then that is pathetic. To tolerate that sort of performance by someone in that position is quite simply a joke. Furthermore to let someone who already was stated to make ignorant and misinformed statements continue to author legislation of this magnitude falls into the category of dumb and dumber.

If you think he is working in your best interest then I do feel sorry for you.[/quote]

So….you really got nothing other than a single statement? Just lotta political rhetoric, but nothing specific?

That’s kinda what I thought.

[SK in CV]

[quote=SD Realtor]SK I do not need to sit and dig through the internet to come up with legislation Dodd and Frank worked on to champion homeownership and help make credit for anyone. It may be an accusatory statement by me but I know it to be true.

Barney Frank is the freeking head of the senate finance committee and if you think it is okay for a guy in that position to be ignorant and misinformed, (those were your words) then that is pathetic. To tolerate that sort of performance by someone in that position is quite simply a joke. Furthermore to let someone who already was stated to make ignorant and misinformed statements continue to author legislation of this magnitude falls into the category of dumb and dumber.

If you think he is working in your best interest then I do feel sorry for you.[/quote]

So….you really got nothing other than a single statement? Just lotta political rhetoric, but nothing specific?

That’s kinda what I thought.

[SK in CV]

[quote=SD Realtor]SK I do not need to sit and dig through the internet to come up with legislation Dodd and Frank worked on to champion homeownership and help make credit for anyone. It may be an accusatory statement by me but I know it to be true.

Barney Frank is the freeking head of the senate finance committee and if you think it is okay for a guy in that position to be ignorant and misinformed, (those were your words) then that is pathetic. To tolerate that sort of performance by someone in that position is quite simply a joke. Furthermore to let someone who already was stated to make ignorant and misinformed statements continue to author legislation of this magnitude falls into the category of dumb and dumber.

If you think he is working in your best interest then I do feel sorry for you.[/quote]

So….you really got nothing other than a single statement? Just lotta political rhetoric, but nothing specific?

That’s kinda what I thought.

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