Look at the timeline. Barney Frank didn't cause the meltdown. It was the PRIVATE financial industry inventing extremely risky opaque financial instruments and selling them as risk-free investments to PRIVATE investors for several years, investments the Fannie and Freddie were legally prevented from participating in under the rules governing them. When they lost significant market share, after years of those risky PRIVATE instruments undercutting them, their PRIVATE stockholders pressured them to go to Congress and get the laws loosened so they could compete with the PRIVATE financial institutions who'd already got huge amounts of bad investments out there, which would shortly blow up in their PRIVATE investors' faces, triggering the collapse. It was the PRIVATE market that created the risk conditions that led inevitably to collapse, and government facilitation, led by years of REPUBLICAN pressure to gut regulation that let them do it. Wasn't Frank.
It was conservative economic policy which is governed by ideology and never learns a damned thing when the real economic world refuses to conform to your ideology, with catastophic results.
@MontereyJack,
Mr. Soggy is typical of someone who ignores facts and deals in dogma. Bush was the President when the credit crunch happened, but that fact is something he can't handle, like the Republican intransigence in Congress leading to America's credit rating being downrated.
H2OMan is profoundly anti-American, because he would rather the American economy crash and burn than let hold of his insane dogma.
@izzythepush,
Jizzy, why must you continue this liberal hate speak full of lies?
Did your mum not love you enough?
Obama is the king of the downgrade democrats - deal with it.
@H2O MAN,
I'm just telling it how it is, I don't expect you and your bumper sticker mentality to comprehend that. (Acknowledges Farmerman for that insightful comment,)
@izzythepush,
Your are confirming how ignorant you really are and that your only major accomplishment these days is wiping your own bum.
@H2O MAN,
Cartoon balloons are always filled with facts in Spurt's world.
@parados,
Parasite, may your 'cartoon balloon' forever be empty just as empty as your skull.
