Thursday, October 2, 2008

Dare I Believe???...I Mean, Can It Really Be True?!

It seems that even in his home state of Massachusetts, the people blame Barney Frank the most for our current mess!

According to the Boston Herald, “When it comes to the Wall Street meltdown, Rep. Barney Frank is considered the engineer of the financial train wreck...”


It’s true what they say, the people are indeed smarter than most pundits and politicos give them credit for.

The Boston herald article goes on to say, “Some readers argue all you have to do is click over to YouTube and listen to Frank, in the fall of 2003, swear “Fannie and Freddie (are) not in a crisis!” and are “fundamentally sound financially.”

“Whoops, guess not.

“Fannie Mae and Freddie Mac have been taken over by the government and are under a grand jury investigation.”

Indeed they are.

With over 5,000 readers responding to a poll posted mid-day Monday (9/29/08) the breakdown goes like this:

*  36 percent state Frank is out in front.

  Bush is second with 29 percent for missing red flags.

  Greenspan, now knocked off his guru perch, is third with 19 percent blame.
*  Former President Bill Clinton falls next with 12 percent responsibility.

  Barack Obama, 3 percent, and John McCain, 1 percent, escape mostly unscathed, for now.

Article URL:

Hopefully the MORE information gets out there and the MORE people learn, the more people will come to see the truth, that is, this crisis wasn’t caused primarily by “private sector greed” but by “governmental malfeasance and abuse of authority.”

Today, I’m feeling so good about the people of the Bay State, that I, a New Yorker, will say,
“Go Red Sox...Go Celtics!”

And that wasn’t easy...believe me.

THANKS to Rachel for the Boston Herald article! Rachel's always AWESOME!!!


Rachel said...

I'm just glad I made you happy! :)Thank the internet and hypertexting. I don't read the boston papers regularly.

Rachel said...

mind you, I think Boston herald leans right while globe leans somewhere (just wanted to be clear)
still, the general public (at least in MA) are not happy

JMK said...

Well, it was great to see a story like that.

I'd like to HOPE that more people come to place the wide spectrum of blame largely where it belongs.

At the heart of all this was Fannie and Freddie and their bought and paid for politicians, BUT it's also the many bankers and investors who laughingly profitted off these bad loans and yes, those "subprime" borrowers, who now claim to be "victims" for being given front-ended teaser rates to get them into loans and houses their incomes couldn't afford at that time.

This "I couldn't help myself from taking advantage of all that free money" excuse really doesn't wash.

conservative brother said...

Let's see first if the voters vote the man whore out jmk. I would have never expected the liberal oasis of Massachusetts to actually put 2+2 together and finally figure out who was truly to blame.

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