Wednesday, June 24, 2009

Flabbergasted


Most likely you've heard, but well, here we go again:

Back when the housing mania was taking off, Massachusetts Congressman Barney Frank famously said he wanted Fannie Mae and Freddie Mac to "roll the dice" in the name of affordable housing. That didn't turn out so well, but Mr. Frank has since only accumulated more power. And now he is returning to the scene of the calamity -- with your money. He and New York Representative Anthony Weiner have sent a letter to the heads of Fannie and Freddie exhorting them to lower lending standards for condo buyers.

You read that right. After two years of telling us how lax lending standards drove up the market and led to loans that should never have been made, Mr. Frank wants Fannie and Freddie to take more risk in condo developments with high percentages of unsold units, high delinquency rates or high concentrations of ownership within the development.

Just what the, hello? Barney? This is what got us into this mess in the first place. And that first time you somehow escaped the blame you so richly deserved. Is the MSM so in the tank that you feel safe enough to do the whole thing over again?

I got two words for ya Barney: You're an idiot.

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