I speak of course of the recent announcement by Congressman Barney Frank (D-Fannie Mae) that he is retiring from Congress. Barney spent the past fifteen years in Congress using the levers of state power to force banks to make trillions of dollars of bad loans to unqualified “sub-prime” borrowers while getting Fannie Mae to “securitize” them to make it appear as a no-risk deal to the banks. This eventually bankrupted Fannie Mae, so Barney and his commie colleagues on the House Financial Services Committee (i.e., Lacy Clay (D-Banksters) championed a zillion dollar bailout. He then co-sponsored legislation that is sure to strangle the banking system to death, once and for all, with regulation, as a means of diverting attention from the fact that he, more than any other individual, is responsible for the sub-prime mortgage meltdown.
It’s a good bet that Massachusetts socialists (oops, I mean, “liberals” ) will replace him with someone who is just as obnoxiously communistic and at least thirty years younger.8:19 pm on November 30, 2011 Email Thomas DiLorenzo