The Barneycle

Posted: January 6, 2009 in Bailout, Barney Frank, Chris Cuomo, Economics

barney.jpg Barney Frank (D) image by LoriWampler

What is it with liberals that makes them so testy?  Take Barney Frank.  Please!   He begins a conversation civilly enough, but before it is done he is heaving and spitting and slurring his words as he unceremoniously cuts off his interlocutor with spurious charges of having been misinterpreted or slighted in some way.  He doesn’t even seem to know those who are one his side.  He will even berate them with the same level of vitriol usually reserved for people like Bill O’Reilly.

I watched him on Good Morning America interviewed by Chris Cuomo.  No conservative, he.  Chris, of course is the son of the liberal former governor of New York, Mario Cuomo and brother of Andrew Cuomo, former HUD secretary under Clinton and current attorney general of New York.  But when Chris Cuomo asked Frank a few frank questions, the spitting and sputtering began.  (By the way, I thought gay men all had a flair for style.  Not only does Frank sound like he got up out of the wrong side of the bed, he looks like it happened 5 minutes ago.)

He was being asked about the latest planned bailout to, well who can keep up with whom is getting the latest bailout.  “A billion here, a billion there, and pretty soon you’re talking about serious money,” Everett Dirksen famously quipped.  And what about the money from the last bailout?  Frank, in typical Frank fashion, lied about the history of the financial bailout and stuck to the Democrat script.  The script is pure fiction.  You have heard it before.  You will here it again.  It is the way politics are played these days.  Much like the days of the Soviet Union.  You tell a lie, tell it often enough, and pretty soon, people will begin to believe it.

Here is the basic plot.  Evil predators in the private sector created the real estate crisis and financial crisis by making loans to people who couldn’t pay.  Somehow these institutions believed they could make a killing by giving money to people who couldn’t pay it back.   The Bush administration didn’t believe in regulation and allowed it all to continue as normal. Eventually that bubble burst.

The truth is just the opposite.  In all points.  The crisis was created because of beaurocrats in the Clinton administration including Janet Reno at Justice and the aforementioned Andrew Cuomo at HUD who threatened to sue financial institutions that did not lend to people who couldn’t afford it.  It was done in the name of getting low income and diversity households a chance to buy their own home, whether or not they could actually afford to pay for it. 

Republicans in the House and from the adminstration tried to get things under control.  Democrats were having none of it.  We have video proof.  Barney Frank is on the video arguing that nothing was wrong with Fannie or Freddie.  But now here was Frank, blaming the private sector and the Bush administration for the crisis and trying to straighten his white hat as he rode side saddle into the fray to come to the rescue of middle America.

When Chris Cuomo challenged him, even mildly, Frank came unglued and insisted he needed to have total control of the mic without interruption from the rude host.  Why the people of Massachusettes continue to plague us with this barnicle I can only guess.  Political theater perhaps.

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