Wednesday, April 01, 2009

Mortgage Meltdown revisited

Way back on September 26 I posted a video called Mortgage Meltdown which showed legislators like Barney Frank protesting muchly to the tune of "Fannie and Freddie don't know nuthin' about birthin' no problems."

Today I read that Barney Frank thinks folks like himself should have the ability to set wages of employees in private companies in the USA. Hmph. Funny how there's no mention of salary caps for film stars or athletes, or politicians, for that matter.

Anyhoo, before Barney Frank is given the keys to regulating yours or my incomes, I think we need to revisit what a brilliant job he did manning the helm of the capsizing Fannie and Freddie programs. I went back to this video I posted here, and it turned out it had been banned by Time Warner on YouTube. It all stinks on ice.

I think the other version included c-span clips of Barney Frank and others protesting the implication there needed to be investigation into Freddie Mac and Fannie Mae, saying there was no problem with these loan guarantors. If Barney Frank was supposed to be minding the store on the mortgage industry and failed so miserably, how can anyone think he's capable or worthy of riding herd on private industry?

April fools, indeed.


Thomas J Wolfenden said...

I thought we fought and won the Cold War?

I was there and participated.

Did I miss something?

Communism under any other name is still Communism.

Anonymous said...

Actors, athletes etc. are entertainers. We willing pay them because they please us. Politicians promise to please us, too. so we support them, again willingly. However, corporations filch our money. Liberal logic.

none said...

Should have Seen O'reilly rip in to Bwany Fwank..and he didn't even let him lube first.

Thud said...

I've been in the slow process of moving to America for quite a while now and my plans are slowly working their way through.Crap like this though is giving me food for thought...I was intending to be running away from socialism.At least in Britain I know how to keep from out of harms way when faced with the all pervading arms of a socialist govt.

Zelda said...

They're all evil and corrupt. If these corporations are so horrible (and many are) LET THEM GO BANKRUPT!!!!!!!

Why are we paying incompetent companies to keep their incompetent execs?

If the feds think AIG going under would be so terrible, then they could back any claims that come in during the bankruptcy proceedings, and have any company who buys the parts of AIG pay the government back first - con interest. That way competent companies take over and we don't get screwed.

Barney Frank should be run out of town on a rail and tarred and featherd.

And drawn and quartered.

Old NFO said...

I think we need to regulate the congresscritters pay, I think they make about 150k a year, so 410/day but they only work about 90-100 days a year... so... err... We need to pay them about 42000 a year...

NotClauswitz said...

Thud - Isn't there grape-growing in Texas? :-) California is not what it used to be.