House Financial Services Committee
Just the tip of today’s prognostications!…
But be assured that Barney Frank announced today that the bailout was aimed basically at Joe Sixpack – the auto salespeople, construction workers, people in small businesses – not the banks; he said they were going to do “just fine.”
The bailout was to take the burden off the “average citizen,” and not aimed at helping out the wealthy “Wall St.” types.
The House Financial Services Chairman did NOT offer “proof” of how the average citizen would benefit, nor did he mention “when.”
Well he did mention that he’s dedicated to making sure it doesn’t happen again!
Barney Frank (MA), Chairman of the Financial Services Committee
The Committee oversees all components of the nation’s housing and financial services sectors including banking, insurance, real estate, public and assisted housing, and securities. The Committee continually reviews the laws and programs relating to the U.S. Department of Housing and Urban Development, the Federal Reserve Bank, the Federal Deposit Insurance Corporation, Fannie Mae and Freddie Mac, and international development and finance agencies such as the World Bank and the International Monetary Fund. The Committee also ensures enforcement of housing and consumer protection laws such as the U.S. Housing Act, the Truth In Lending Act, the Housing and Community Development Act, the Fair Credit Reporting Act, the Real Estate Settlement Procedures Act, the Community Reinvestment Act, and financial privacy laws.
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
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