Comments on: Barney Frank On Bailouts, Welfare

Tells 60 Minutes An Auto Industry Bailout Would Help People, Not Companies

[katiell]

I am just shocked that Paulson can do what he wants with that $700,000,000 bailout. I think someone should take that money back and give it to people who have lost their homes because of crooked banks and loan companies. Now the jerks are playing games. Refusing to give out loans and charging extra fees and threatening their customers. I am sick and tired of listening to these comments that it''s the people who took out the loans who are to blame. I know better. I know several people who have lost their homes to crooked loan companies. My son was divorced because his wife didn''t want to take care of a house or her kids anymore. He had to take out a loan to pay her off. A year later he had to have the aortic valve in his heart replaced at the age of 42 so he had to take out another loan. The loan company tacked on more fees and raised his payments. He sold everything he could sell and borrowed money to catch up and then, they turned around and said it wasn''t enough. His case has been documented with our attorney generals'' office, but, what good will that do? These rotten *************************************!!!!!!! Paulson should join OJ!!!!

[samael2014]

"Are you telling me I don''t know what I''m talking about?" Stahl asks.

Oh yes, that''s exactly what we''re talking about. How much do we have to hear the main-stream "liberal" media repeat everything Wall-street hypocrites want us to hear? If it''s on the order of TRILLIONS of U.S. taxpayer dollars, and it''s the money grubbing financial parasite sector that''s telling you what capitalism is all about and survival of the fittest, then you can be sure the "free press" will propagandize it as a double-standard divided by a million so ridiculous it''s worth repeating OVER AND OVER again.

Has anybody seen banks cutting back on their operating costs, providing insurance for customer assets instead pinning this on taxpayers, charging credit card interest rates competitive with the prime interest rate?

This country has socialized capitalism on an EPIC scale unknown to MAN-KIND, and now it''s having problems extrapolating the theory to the manufacturing sector, and because labor isn''t involved in money-management and corrupt profit scheming, apparently their not allowed to be capitalists. Neither are consumers or taxpayers apparently. Not in America, no way. The NEED to FEED apparently goes one way, and middle-class America have been designated the hosts, BIG TIME, in this relationship.

Yeah, I''ve think heard enough from Leslie Stahl and cherry-picked darwanism attribution to last thirty life-times.

[itdfactsu]

Barney Frank On Bailouts

This Barney Frank cannot be believed he is as much a Republican as a Democrat

[elmo151-2009]

In regard to what Barney said; When he was the one that headed the oversight committee how can he sit there and say he cares about the working man. He is responsible for most of this crisis by failing to do his job and now blames it on the business community. Mr. Frank what have you done for the working families in this country. You and you cohorts approved a 700billion dollar bailout with no strings attatched to the banks,and they have not used the money for one family to save there homes from being taken from them.If you really believed in welfare,you would pas a bill to give the 300 million people in this country 1,000,000,000 dollars. Take taxes out before you mail the check. Most would pay off their home,debts,and buy new vehicles. This would bail out the banks,bail out the credit card companies,and save the auto industry. I think it would be far cheaper than what your doing with our money. By the way we don''t work for you,you work for us. I think if you people in government don''t help all the working people in this country we will ,starting with the next elections vote out all that are incumbents. If you like this idea forward to your congressmen.Love Elmo

[elmo151-2009]

Hey Barney, How about passing a bill to give the taxpayers in this country a million dollars. Take taxes out before mailing,most people would pay off their home loan,personnel loans,buy a new vehicle. This would bailout banks,auto industry,plus stimulate the economy. people would be able to stay in their homes and the working people in this country would finally benefit from some thing the government did. I think that if you people in the house and senate(by the way who are totally responsible for this mess) don''t do something for the hard working people in this country,the next election we will vote out every incumbent. Send a copy of this to your senators .Love elmo151

[clovisbuford]

"compare you to trailer trash because that seems to be a fitting description of your level of comprehension."Posted by txgrouch2008
"Congress wanted to guarantee that the $700 billion financial bailout would limit the eye-popping pay of Wall Street executives, so lawmakers included a mechanism for reviewing executive compensation and penalizing firms that break the rules.
But at the last minute, the Bush administration insisted on a one-sentence change to the provision, congressional aides said. The change stipulated that the penalty would apply only to firms that received bailout funds by selling troubled assets to the government in an auction, which was the way the Treasury Department had said it planned to use the money.
Now, however, the small change looks more like a giant loophole, according to lawmakers and legal experts. In a reversal, the Bush administration has not used auctions for any of the $335 billion committed so far from the rescue package, nor does it plan to use them in the future. Lawmakers and legal experts say the change has effectively repealed the only enforcement mechanism in the law dealing with lavish pay for top executives. "

err whose admin is pulling this fast one .. right .. and got to love the name calling,the last refuge of someone in an intellectual argument that has shown themselves to be unarmed.

[clovisbuford]

Looks like oil drilling didn''''t teach YOU much about "civil discourse" either.
Posted by txgrouch2008 at 09:32 PM : Dec 15, 2008 err i might disagree vehemntly with your positions , i dont recall implying you were trailer trash or mangling your screen name , i tend to argue on teh facts or the intrepetation of them .. but you know whatever you are comfortable with. Lets see i agree with democratic positions , so you should just toatally shelve the trailer trash argument ..perhaps you should imply i am a closet homosexual , or that i am a secret musslim who really wasnt born in the usa or whatever tickles you , because like that white house spokesman said ,"we create our own reality" and thenn you can defend it by saying its all humor . give it a shot big boy .

[clovisbuford]

But you probably don''''t get THAT either.
Do you, cletus.
Posted by txgrouch2008 at 09:17 PM : Dec 15, 2008" darlin I worked drilling rigs and the oilfield for yrs when a young man . I am way past letting some local yokel with a tude faze me , but you keep poking and then wonder about the lack of civility in public discourse these days .

[clovisbuford]

Hey, cletus, the sun went down. Isn''''''''t it time to pull up the blankets and go to sleep, now that there''''''''s no electricity in your trailer because the trailer park owner didn''''''''t pay the electric bill?
Posted by txgrouch2008 at 09:04 PM : Dec 15, 2008
err didnt look much like humor to me ,it looks like you disagreed with me and tried to use ridicule in lieu of facts.. its all good, its the net, but expect to get called on it ..

[clovisbuford]

Hey, cletus, the sun went down. Isn''''t it time to pull up the blankets and go to sleep, now that there''''s no electricity in your trailer because the trailer park owner didn''''t pay the electric bill?
Posted by txgrouch2008 at 09:04 PM : Dec 15, 2008
ahhh when you cant win on the basis of reasoned argument you just call names and imply inuendo ...sweet....

[clovisbuford]

Pretty soon it will be time to give him the boot
Posted by txgrouch2008 at 08:54 PM : Dec 15, 2008" lemme know when you can vote against him , it means othere will be one less vote in tx for Mr. Godd hair Perry

[clovisbuford]

Commentators say that''s what triggered the stock market meltdown and the freeze on credit. They''ve specifically targeted the mortgage finance giants Fannie Mae and Freddie Mac, which the federal government seized on Sept. 6, contending that lending to poor and minority Americans caused Fannie''s and Freddie''s financial problems.
Federal housing data reveal that the charges aren''t true, and that the private sector, not the government or government-backed companies, was behind the soaring subprime lending at the core of the crisis. Subprime lending offered high-cost loans to the weakest borrowers during the housing boom that lasted from 2001 to 2007. Subprime lending was at its height from 2004 to 2006.

Federal Reserve Board data show that:

* More than 84 percent of the subprime mortgages in 2006 were issued by private lending institutions.

* Private firms made nearly 83 percent of the subprime loans to low- and moderate-income borrowers that year.

* Only one of the top 25 subprime lenders in 2006 was directly subject to the housing law that''s being lambasted by conservative critics.

[clovisbuford]

"I heard you. You said Dems have a majority, but you deny that a majority means absolute power Posted by txgrouch2008 at 08:36 PM : Dec 15, 2008"
if they have absolute power that would mean republicans could not have blocked the aid to the us auto industry , "those Toyota republicans " as conservative columnist pat buchannen calls them .. but wait they did block it in committee ..so that means the dems dont have absolute power ... oh right .. facts .. man they dont get in your way a bit .

[pepperwood2]

Posted by firehose11 - Do you guys think

Barney Frank

Looks more like:

a. Baby Huey

b. Elmer Fudd

c. Another white dough boy

d. Typical mindless Lib

With all due respect Sir - Its not nice to play around with Congress''s Most Brilliant Financial Wizards. It''s just coincidental that Fannie & Freddie and the rest of the Countries Financial Institutions went under during Barney Einstein''s watch.

How about all the above?? CACKLE CACKLE CACKLE

[clovisbuford]

from the same article :Freddie Mac shifted into high gear, secretly paying a Republican consulting firm, Washington-based DCI Group, $2 million to kill Hagel''s legislation. The covert lobbying campaign targeted Republican senators in 2005-06.

According to the newly obtained records, DCI''s deployment was part of a broader campaign that targeted mainly Republicans on Capitol Hill.

The internal Freddie Mac documents show that 17 of the lobbying firms and consultants paid in 2006 were specifically directed to focus on Republicans and four on Democrats, with varying targets for the rest.

McLoughlin hired his own personal political strategist, Republican consultant Harry Clark, paying Clark''s firm $440,494 in 2006 out of McLoughlin''s executive office budget, according to the records obtained by AP.

[clovisbuford]

Well, Pelosi thought that two years ago. Now they deny they have a majority - you STILL deny it!!! LOL!Posted by txgrouch2008 at 08:36 PM : Dec 15, 2008
err my exact quote was "they have a majority in the house i doubt its filibuster proof . " oh right facts .. you could at least get mine right when its in cffront of you

[clovisbuford]

Internal Freddie Mac budget records show $11.7 million was paid to 52 outside lobbyists and consultants in 2006. Power brokers such as former House Speaker Newt Gingrich were recruited with six-figure contracts. Freddie Mac paid the following amounts to the firms of former Republican lawmakers or ex-GOP staffers in 2006:

_Sen. Alfonse D''Amato of New York, at Park Strategies, $240,000.

_Rep. Vin Weber of Minnesota, at Clark & Weinstock, $360,297.

_Rep. Susan Molinari of New York, at Washington Group, $300,062.

_Susan Hirschmann at Williams & Jensen, former chief of staff to House Majority Leader Tom DeLay, R-Texas, $240,790.
http://www.google.com/hostednews/ap/article/ALeqM5hGXB8-7MNyCqUeGzwsRJt4eLcWgAD94U1CVO0

[clovisbuford]

"After the Dems get absolute power next year, expect Frank to lead the Dems into absolute corruption.
Posted by txgrouch2008 at 08:24 PM : Dec 15, 2008" absolute power ?, what they are rounding up the republicans and putting them to death? they have a majority in the house i doubt its filibuster proof . I guess republicans will have to learn to grow a set. Lord knows the dems need to , they should react to the republican minority just like they were treated , ban the republicans from any house, senate bill conferences on reconciling any bills , and watch them whine when republicans are the ones that instituted it .

[dozer211]

this interview was a joke. hey lesley why is fannie and freddie not been investigated.how about his boyfriend whom he set up with a nice goverment job.how about harold raines walking away with over a 100 million dollars.

[clovisbuford]

But Frank used his "secret weapon" on her.
You see, there are some in-the-closet homosexuals at the Big Eye corporate offices, too.
Posted by txgrouch2008 at 07:22 PM : Dec 15, 2008"
err the only"in the closet " homosexuals these days are republican congress men (wide stance , Larry Craig ) or the the florida one that like the page boys,or fundamental preachers , the rest of the world realizes its 2008 and are long over that one . You might not agree with a mans politics but I doubt barney frank''s sexual orientation has much to do with his competence or lack of it depending on your politics.