Thursday, September 25, 2008

CONGRESSMAN BARNEY FRANK & 2009 ECONOMIC MELTDOWN

Congressman Barney Frank (D, Mass.) nixes a Bush administration attempt to reform Fannie Mae and Freddie Mac in 2003.

'These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.
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