Barney Frank: No Voice, No Power, No Job??…John Prescott’s The MetWest Scene

Image via Wikipedia

“Responding to charges that he bears some responsibility for the crisis in the mortgage industry, Rep. Barney Frank, D-Newton, said that as a minority congressman for many years he did not have the power to implement regulations sooner.” -Barney Frank, 10/06 /08 WickedLocal.com

Barney, come on!

You’ve been a member of Congress since 1981!  And now you would have us believe that the congressman from Massachusetts is just a shy, retiring representative who was  not able to exert any power or influence until he became chairman of the Financial Services Committee in 2007 ???

You didn’t participate in any sessions where your persuasive oratorial powers were on display to put a halt to the step by step, law by law, bill by bill steps that have brought us to this financial abyss?

Did you not notice that not all the Bush years were dominated by a Republican congress?  That the beginning of this fiscal flippery began in prior administrations, during which the Democrats reigned on the Hill?

Did you not hear the pounding of the nails into our financial coffins?

Were you not aware of the greedy, bloated severance packages that proliferated throughout Wall St.??

Did you not review the SEC filings which detailed the millions and millions of dollars CEO’s and senior management executives were walking away with as the companies they were responsible for were exhaling their death rattle?

Did you not research the financial health of the nation’s economy during your 37 years on the Hill?

Didn’t you deem it important enough to take whatever steps necessary to ensure that the financial engine which drives the nation was tuned up and in good running condition?

Where were you then when Congress passed liberal lending practices legislation?

Were you unaware of the lack of good credit histories inherent in the extension of credit to individuals who heretofore, banks considered “too risky” to lend money to??

Did “no docs” lending equate to “sound lending practices” to you?

During your “due diligence” efforts as the representative of the people of Massachusetts, did you not raise the red flag when you first realized that the mortgages weren’t worth the paper they were written on? When financial institutions began failing?  When jobless claims began steadily rising?

You say you were in the minority and had no power???

Just askin’ Barney; just askin’!

Barney Frank Explains Bailout, Defends Role in Crisis/WickedLocal.com

Related articles by Zemanta

• Last Refuge of a Scoundrel
• Barney Frank ‘Fesses Up on Financial Crisis
• Ancient History, Apparently
• Fed: Fannie, Freddie in no danger of failing

JOHN PRESCOTT

-BostonKayakGuy

Top Real Estate Agent for more than 14 years, serving the real estate needs of  Wellesley, South Natick, Weston, Needham, Wayland, Newton, Framingham and other MetWest communities.  www.johnprescott.net

JOHN PRESCOTT

Vice President

Century 21 Commonwealth

508-523-9252

BostonKayakGuy…The MetWest Scene