Dodd-Frank Act, Fannie Mae Freddie Mac The Ship Be Sinking VIDEO

If this was fiction no one would believe it, to far fetched. The same people who aided and abetted our downward spiral now seek to finish the job. Barney Frank's, chairman of the House Financial Services Committee key roll in the Freddie Fannie collapse is outlined below. Chris Dodd Chairman of the Senate Committee on Banking, Housing, and Urban Affairs is a life long politician. In the words of the philosopher "The Ship Be Sinking"¹

Wall Street Reform and Consumer Protection Act. BACHUS, REPUBLICANS BLOCKED FROM BRINGING UP FANNIE/FREDDIE REFORM BY CHAIRMAN FRANK. Summary Of Dodd-Frank Wall Street Reform And Consumer Protection Act, and FULL TEXT in PDF FORMAT H. R. 4173

WASHINGTON (June 23)– Congressman Spencer Bachus (AL-6) today said Chairman Barney Frank’s outright ban on consideration of amendments to reform Fannie Mae and Freddie Mac, the failed government controlled housing enterprises, is an abandonment of congressional responsibility and the direct result of Democrats controlling negotiations on a financial regulatory bill to protect their taxpayer-funded bailouts.

Bachus, who is Ranking Member on the Committee, today was blocked from bringing up reform proposals during a House-Senate conference on the regulatory bill.

“Without the ability to even debate how to end the unlimited bailouts for Fannie Mae and Freddie Mac, meaningful GSE reform, which should have been our top priority in this conference, will never come,” said Bachus, who is a conferee on the bill. “Instead, we have focused on other matters, many that are unrelated to the financial crisis, and allowed the GSEs to bleed more than $146 billion of taxpayer dollars without any plan to staunch the losses.

“Just like their lack of a budget, this is a complete abdication of their congressional responsibility. Thanks to the cameras, now the public knows what the Democrats look like when they protect government bailouts over the interests of taxpayers,’ Bachus said.

Under Bachus’ leadership, Republicans on the Financial Services Committee have consistently offered legislation and proposals to end the growing taxpayer bailout of the housing finance entities, which are considered one of the root causes of the financial crisis.

Barney Frank Fannie Mae and Freddie Mac Oct. 6, 2004 "I don't see anything in this report that raises safety and soundness problems" Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis.

At a 2004 hearing see Democrat after Democrat covering up and attacking the regulations to protect Fannie Mae and Freddie Mac (their Cash Cows) that are now destroying our economy because the Democrats let them cheat.



Barney Frank in 2005: What Housing Bubble? Courtesy of www.verumserum.com. A speech by Barney Frank on the House Floor in 2005 where he refutes any concern about a housing industry bubble and advocates for the government to continuing expanding home ownership.



Barney Frank Rewrites History April 20, 2009 Says the Poor Should Not Own Homes.

Excerpt from an interview given by Barney Frank on the Tavis Smiley show on PBS on April 20, 2009, where Rep. Frank astonishingly claims that conservatives are to blame for the housing collapse, and that he has been in favor of rental housing for low-income earners all along.

FOOTNOTES ¹ Urban Dictionary: The Ship Be Sinking

VIDEO CREDITS: Covering up the Fannie Mae, Freddie Mac Scam. NakedEmperorNews

What Housing Bubble? morgenr

Barney Frank Rewrites History, morgenr

TEXT CREDITS: Congressman Spencer Bachus (AL-6)