Full Contact TV: Bill O’Reilly Blasts Rep. Barney Frank, Chairman of the House Services Committee, For His Roll in Failed Fannie Mae-Freddie Mac

 

LET’S GET READY TO RUMBLE … Welcome to FCT, Full Contact TV

Tonight on The Factor, Bill O’Reilly ripped Barny Frank, House Representative and Chairman of the House Services Committee, for his roll in the failed Fannie Mae-Freddie Mac scandal. WOW, this is must see You Tube!!! Watch what happens when Barney Frank tries to lie his way out of what he actually said. Make no mistake who was to blame for these financial disasters and who looked the other way and ran cover while Fannie and Freddie sank deeper into total failure.

O’Reilly calls Frank a coward for not being man enough to own up for his part in the Fannie Mae-Freddie Mac scandal. Just another example of a gutless politician who maintains his power while screwing “We the People”.  Grab a drink and some chips and enjoy this beat down.

Starting five years ago, when Frank rejected Bush administration efforts to clamp down on Fannie and Freddie, claiming they were – quote – “not facing a financial crisis,” dismissing fears as exaggerations that would “pressure” the lenders to cut back on housing loans to those in need.

Barely 15 months later, with Fannie and Freddie engulfed in scandal over the same “terrible mistakes” Frank so abhors in the private sector, he was conceding they might need to be “better regulated,” but “not at the expense of housing” loans.

Fast forward another year, and Frank was still fighting off efforts to curb Fannie and Freddie’s borrowing, rejecting a regulator’s bid for greater authority, and clearing the way for larger and more lucrative loans, all by way of resisting Republican “extremism,” Frank said.

August of 2007, another push by regulators for more oversight is dismissed by Frank, now Chairman of the House Financial Services Committee, as “inane.”

So, is Barney Frank blameless for the Fannie-Freddie fiasco?

Sorry, congressman, the Spin-o-Meter knows a whopper when it tastes one.

 Barney Frank on Fannie Mae and Freddie Mac in 2003 discussing oversight. As the Gateway Pundits states, Frank’s comments concerning Fannie Mae and Freddie Mac might actually be considered funny, it it didn’t wind up costing “We the People” $700 billion.

That is, in my view, the two government sponsored enterprises we are talking about here, Fannie Mae and Freddie Mac, are not in a crisis. We have recently had an accounting problem with Freddie Mac that has led to people being dismissed, as appears to be appropriate. I do not think at this point there is a problem with a threat to the Treasury.
 
I must say we have an interesting example of self-fulfilling prophecy. Some of the critics of Fannie Mae and Freddie Mac say that the problem is that the Federal Government is obligated to bail out people who might lose money in connection with them. I do not believe that we have any such obligation. And as I said, it is a self-fulfilling prophecy by some people.
 
So let me make it clear, I am a strong supporter of the role that Fannie Mae and Freddie Mac play in housing, but nobody who invests in them should come looking to me for a nickel–nor anybody else in the Federal Government.


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  • Comments

    35 Responses to “Full Contact TV: Bill O’Reilly Blasts Rep. Barney Frank, Chairman of the House Services Committee, For His Roll in Failed Fannie Mae-Freddie Mac”

    1. david r on October 3rd, 2008 5:55 am

      Go get ‘em Bill. I’m mad as hell and I’m not going to take it anymore.

    2. SUPER DAVE on October 3rd, 2008 8:07 am

      what ! a democrat screwing the taxpayer and lining his own pocket ? wow !!!!

    3. jEEp on October 3rd, 2008 8:26 am

      I would like to whoop the everliving daylights out of Barney Frank. With an axe handle.

    4. Richard on October 3rd, 2008 9:04 am

      Maybe he changed his stance when Ted Kennedy started losing money?

    5. dePlume on October 3rd, 2008 9:23 am

      Barney Frank should be removed as Chairman. He didn’t warn, he soothed; people invested and lost.

      Frankly, Frank should go.

    6. kaye on October 3rd, 2008 9:33 am

      there’s a place where the likes of Barney Frank and Henry Poulsen go; i believe it’s called hell.
      but in that note, you can peobably throw in most of our representation in washington……….our government has failed us miserably. what ever happened to “government for the people and by the people”? not government for the people by the government. somewhere along the way this train fell off the track……..

    7. dePlume on October 3rd, 2008 9:43 am

      Kaye,

      I do see some response to the People by Congress, but it’s not enough.

      Money lost in the Stock Market could be recooped. $700B, if passed in the Bailout Bill, will be gone–to be repaid for a long, long time.

    8. Susan on October 3rd, 2008 10:44 am

      This was truly hilarious! I didn’t much care for Gay Boy calling Bill “stupid, dumb, etc.” though…If Bill could’ve gotten a hold Barney, he would have ripped him to shreds…LOL!!

    9. brie. on October 3rd, 2008 11:09 am

      It’s obscene the way the gov’t has handled this country…it is time to clean up Washington, McCain and Palin….Get rid of Frank today…!!!! Might want to check his bank account and what he has done to scare money….!!!

    10. Justmy2cents on October 3rd, 2008 11:17 am

      I thought he was talking to Elmer Fudd the first time I heard it. It was hysterically funny! U get’em Bill! I wonder how much money Bill has lost, he’s been really angry lately.

    11. Tricky on October 3rd, 2008 1:10 pm

      Can we impeach Nazi Pelosi and Barny Frank?

    12. Richard on October 3rd, 2008 5:06 pm

      Don’t forget Sen. Chris Dodd of Connecticut, for some time head of the Senate Finance and Banking Committee … he also resisted the White House call to make Freddie Mac and Fannie Mae straighten up their operations.

    13. Maggie on October 3rd, 2008 7:25 pm

      Chris Dodd don’t have the guts to come on O’Reilly.. I watched this last night on O’Reilly.. It was funny..and good old I love you, you love me.. Barney was trying to blame everyone but..

      I receive a real funny email tonight.. Someone sent me as a forward of Democrats.. It had Jim Johnson.. economic advisor for McCain.. Franklin Raines a republican working for McCain,, Tim Howard economic advisor for McCain..then it said these are the ones who brought down Wall Street..so would you back a president candidate that has them working for them..soooooooooooo

      I pointed out Jim Johnson picked Obama’s VP.. Raines was called more than once by Obama campaign about mortgages..according to Raines, He worked for Clinton and went on to be CEO of Fannie Mae..walked off with 245 million.. Tim Howard was rumored to work for Obama.. that I can’t prove..but NONE of these people worked for McCain,, so I said why would you vote for Obama if some of them worked for him? lol I also sent them the video of Democrats in Congress calling it a public lynching of Franklin Raines, during a hearing over Fannie Mae and it’s misconduct. Maxine Waters..Dem saying… There is no problem here.. Frank saying it’s nothing..

      Jamie Gorelick worked for Clinton and no dealings in finance ever, but went on to be a CEO of Fannie Mae.. walked off with 26 plus million..

      They always say follow the money…

    14. Foxy Lady on October 3rd, 2008 8:48 pm

      Maggie:

      Remember the commercial that aired the day after the first vote in the house. McCain had said that there wasn’t going to be any finger pointing. The campaign was to be suspended until they solved this crisis. He assumed that the vote would go through the house and was the first one to point that fickle finger of fate.

      He’s a complete liar and idiot… but you would have us believe he’s a man of his word capable of leading armies when he can’t even run his campaign without putting in his little sneak attack trick against his own country. Completely untrustworthy, I say.

      ,

      But, by all means, follow the money; and if you can, get some back for us!

    15. Richard on October 4th, 2008 8:37 am

      Be warned, folks … I saw an article today wherein Barney Frank is saying that in January there is going to be a complete overhaul of the government housing programs, the biggest since the New Deal.

      Guess what he’s looking for … more big spending, and to be paid for how?

      I say … maybe it’s time to get the government out of the housing business. If Massachusetts, or any other state, sees the need for housing programs in that state … let the taxpayers of that state vote on it and PAY FOR IT.

      No more federal loan guarantees. Period.

      It won’t be easy … but we have to strip away power and money from the Washington crowd.

    16. txchic on October 4th, 2008 2:41 pm

      sheesh… i wish the voters would make frank take an IQ test before the next election.

    17. cj1 on October 4th, 2008 3:59 pm

      Did you people think Palin won the debate by not debating the questions, too? I used to like O’Reilly but this time he jumped the shark tank. Some of you people must be nuts–or maybe just run-of-the-mill “I hate thinking” type of republicans who can’t hear/don’t listen any better than that blathering rabid fool O’Reilly. Franks totally nailed him in a lie, nailed him when he tried to take half a sentence out of context (the whole sentence meant something entirely different, fools. Go back to second grade if you need a review), and his screaming was worse than a Jerry Springer or “Steve” show.

    18. cj1 on October 4th, 2008 4:04 pm

      And Maggie, not going on that idiot’s show is called self-respect. I have a feeling Dodd wouldn’t join ya in yer Wednesday night jello wrestling either. (hiccup!). Please, have another…

    19. Maggie on October 4th, 2008 5:45 pm

      So Obama and Hillary aren’t self respecting? They went on O’Reilly..and Dodd

      Dodd announced in a letter to the Federal Election Commission that he was no longer a candidate for the Senate in 2010.

      A 2008 poll of Connecticut voters suggested Dodd would have difficulty winning re-election in 2010, with 46% viewing his job performance as fair or poor.

      I am sure it will be much lower after this fiasco.

      lol jello wrestling match.. never tried it, but it sounds like fun.

    20. Richard on October 4th, 2008 8:41 pm

      Maggie, is that definite about Dodd? As one who was brought up in the Nutmeg State of Connecticut, also called the Constitution State, I am truly amazed. Dodd seemed to be part of the unmovable woodwork, so to speak.

      By the way, his father, Thomas Dodd, was censured by the Senate.

    21. Richard on October 4th, 2008 8:43 pm

      That news, if accurate (and I’m not doubting what Maggie says, I just find it impossible to take in), goes some way to restore respect for Dodd.

      He at least knows when his time has come and gone.

    22. Richard on October 4th, 2008 8:45 pm

      Or, maybe, he knows that the (something) is really going to hit the fan in the years to come … and doesn’t want to be part of it.

    23. A New Girl on October 5th, 2008 12:42 am

      I hate to be repetitive…but once again…the only word that comes to my mind when I think of Barney Frank is BUFFOON.

      Oh, wait—here’s another: LUMMOX

      He’s ridiculous and most can see right through him……..glad O’Reilly ripped him apart–he deserves even more bad publicity than he is already getting.

    24. txchic on October 5th, 2008 10:57 am

      A New Girl has it right on. frank thought he could come on with the same ole’ mantra, spinning his web of deception.

      o’reilly’s been a bit soft lately & i was happy to see him call a lie a lie. a man would have stepped up to the plate & admitted that he made a mistake, claiming that going forward the company was solid. any idiot knows that investors purchase stocks on their probability of future performance.

      nice try cj1. typical democrat… try to change the subject to suit you agenda. just what you’re accusing others of doing.

    25. Richard on October 5th, 2008 11:31 am

      Maggie, I haven’t found any such info about Dodd in Sunday’s papers.

      Meanwhile, an AP article says that Massachusetts, home to Barney Frank and other such luminaries, is considering asking the federal government for a loan on terms similar to those extended to the troubled Wall Street institutions.

      (I can’t remember, any more, how many there are.)

      Apparently Barney Frank’s state is facing similar problems … no liquidity.

      I’ve read that California and Florida are in similar situations.

      I guess the federal government will be expected to print money … something that only it can do … to respond to every contingency.

      Go back and check on the inflation rate in Germany during some of the 1920s … people literally were being paid twice a day, because prices would be raised DAILY. And people literally were burning money for fuel … that was cheaper than wood.

      God help us.

    26. Richard on October 5th, 2008 11:33 am

      Even the Somalian pirates apparently are telling the so-called superpowers of the world to go to hell. We can’t even take them on, it seems.

      I wonder if the U.S. has any ‘moral prestige’ left? After all, we refused to confront Aruba.

      And here at home, we practice a philosophy of government as an always-open checkbook … for how long?

    27. txchic on October 5th, 2008 2:10 pm

      the world has gone to hell in a handbag over political correctness. this is what we’ve been left after 8 years of clinton’s need to be loved. we should have given clinton therapy, not the keys to the oval office.

    28. Maggie on October 5th, 2008 5:44 pm

      Richard, go to chris dodd at Wikipedia on his biography… that’s what is says..

    29. Maggie on October 5th, 2008 5:48 pm

      Richard, this is the link..go down the page under the heading U.S. Senator… and that’s what it says..

      http://en.wikipedia.org/wiki/Christopher_Dodd

    30. What Will America be Like with a Democratic President, House and Senate … Increase Taxes, Decrease Military and Socialism | Scared Monkeys on October 25th, 2008 9:49 am

      [...] military budget by 25% while also stating that taxes will be increased. Barney Frank, one of the many Democrats who just sat by and watched Fannie Mae fall apart while he refused to hear the warnings of its [...]

    31. More Government Spending: Obama Unveils $275 Billion Plan to Shore Up Housing/Mortgages … Fannie Mae and Freddie Mac Bail Out | Scared Monkeys on February 19th, 2009 7:46 pm

      [...] out.  Is anyone adding all this up as I have run out of fingers and toes to count? Fannie Mae and Freddie Mac, the very institutions that caused much of the credit/mortgage crisis are being bailed out to reek [...]

    32. Marge Danielli on July 16th, 2009 10:58 am

      Different issue. However agree that Frank is just another “crooked” politician.

      My question Mr. O’Reilly is:

      What on earth is with this president???. This country is in a mess, to say nothing of the world, and he is out acting as though he is an entertainer. Pitching a ball, when Americans need a president to know what he is doing and correct the mess we are in.

      I’d like to know why he dosen’t he park himself at his desk and behave in an appropriate manner and correct what is wrong with this country.

      Is he ignorant, or does he just not know what to do?

      If he wants to be an entertainer, let him go to Hollywood. If he wants to be president, he’d better buckle down, know his job and do it!

      Marge Danielli

    33. Marge Danielli on July 16th, 2009 11:03 am

      Different issue. However agree that Frank is just another “crooked” politician.

      My question Mr. O’Reilly is:

      What on earth is with this president???. This country is in a mess, to say nothing of the world, and he is out acting as though he is an entertainer. Pitching a ball, when Americans need a president to know what he is doing and correct the mess we are in.

      I’d like to know why he dosen’t he park himself at his desk and behave in an appropriate manner and correct what is wrong with this country.

      Is he ignorant, or does he just not know what to do?

      If he wants to be an entertainer, let him go to Hollywood. If he wants to be president, he’d better buckle down, know his job and do it!

      Marge Danielli

    34. Joe M. Tarpley on January 14th, 2010 3:20 pm

      “The Bigger the Budget, the more you can Steal”

      Perhaps I have written a new “Quote” phrase. I can’t find an author.
      But it really seems to reflect the actions of our current Congress.

      Bill, you have my permission to use the NEW, WONDERFUL QUOTE I
      have just penned. It just seems so apropro HA,HA…

      Keep up the good work!
      Keep the faith!
      Preservere

    35. Joe M. Tarpley on January 14th, 2010 3:20 pm

      “The Bigger the Budget, the more you can Steal”

      Perhaps I have written a new “Quote” phrase. I can’t find an author.
      But it really seems to reflect the actions of our current Congress.

      Bill, you have my permission to use the NEW, WONDERFUL QUOTE I
      have just penned. It just seems so apropro HA,HA…

      Keep up the good work!
      Keep the faith!
      Preservere

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