NLXSK1
Well-Known Member
No, Barney Frank was the reason that reform legislation was never passed for freddie or fannie. Could you address the issue that although these companies were at the cornerstone of the real estate collapse that they have not had to go before congress, answer any questions or be subject to any legislative changes. These companies lost hundreds of billions of dollars that the taxpayer was forced to pick up and the executives are getting record bonuses. Something definitely smells rotten... Denmark? How about in Congress..barney frank was the man behind the curtain singlehandedly controlling the entire executive and legislative branches.
I agree this collapse was aided by an unregulated derivatives market created by multiple administrations including both Republicans & Democrats.certainly, this collapse had NOTHING whatsoever to do with an unregulated derivatives market or despicable practices by companies like AIG and goldman sachs.
However, while the politicians are busy pointing fingers at everyone but themselves and their big cash donors over at freddie & fannie, something still stinks...