Barney Frank: Plenty of rich people we can raise taxes on

[Knightskye]

http://www.youtube.com/watch?v=u1Mazjm_A5k

He said we needed to act keynesian.

I wonder if Barney Frank knows about Austrian economics.

[Truth Warrior]

I Come To Bury Keynes (http://www.lewrockwell.com/rozeff/rozeff233.html)
Mike Rozeff on the evil genius of modern stateonomics.

[kojirodensetsu]

I wonder if Barney Frank knows about Austrian economics.
Well if he wants to tax rich people then he probably doesn't.

[jcarcinogen]

I would not be sad if Barney Frank was robbed of everything he had the when his insurance reimbursed him and he was 'content' he was robbed again.

He robbed the American people.

[DFF]

What he's alluding to (I think) is Obama's 45% death tax on the wealthy.

[Truth Warrior]

Barney Frank Says Race a Factor in Subprime Blame Game

October 07, 2008 10:00 AM

The Chairman of the House Financial Services Committee, Rep. Barney Frank, D-Mass., yesterday said Republicans are misplacing blame when they target Democrats' efforts to expand affordable housing -- and Frank alleged there was a racial component to the criticism.

"They get to take things out on poor people," Frank said at a mortgage foreclosure symposium, as reported by the Associated Press's Glenn Johnson (http://www.breitbart.com/article.php?id=D93LAKT01&show_article=1). "Let's be honest: The fact that some of the poor people are black doesn't hurt them either, from their standpoint. This is an effort, I believe, to appeal to a kind of anger in people."

Frank, in August, told CNN (http://money.cnn.com/2008/08/22/real_estate/barney_frank.moneymag/index.htm) that a new guiding principle for the housing market should be "we basically have to tell people who want to make mortgage loans something terribly radical: Do not lend money to people who can't pay it back."

Asked how the U.S. mortgage market got to this horrible place, Frank said, "We had too little regulation at a point of great financial innovation. Twenty years ago, most loans were made by someone who expected to be paid back by the borrower. And lenders who want to be paid back by the borrower are careful about who they lend to. Then came this great innovation called securitization. Securitization means that I lend you money and quickly sell the right to be paid back by you to other people. Well, when the lender ceased to have an ongoing relationship with the borrower, a tremendous amount of banking discipline was lost. And it was much harder to replace than we thought."

Why didn’t regulators step in?

"Back in 1994, Congress gave the Federal Reserve the authority to ban irresponsible mortgages," Frank said. "Alan Greenspan, as a very committed anti-regulation conservative, refused -- literally refused -- to use that authority. Congress can give people authority; we can't compel them to use it. Ben Bernanke, to his credit, realized that it was time to use that authority. So he promulgated a set of rules on July 14 of this year to prohibit a lot of the mortgages of the type that got us in trouble. If Alan Greenspan had done 10 years ago what Ben Bernanke did this past July, we would have much less of a problem in subprime mortgages...

"We have made a mistake in this society. The assumption that everybody can be a homeowner is wrong. We pushed and encouraged people into home ownership -- people who, in some cases, weren't ready for it. You can't act on wishes that are unrealistic without having negative consequences."
**
On that topic, the video of a "Saturday Night Live" skit that mocked Frank and criticized Democrats and some mortgage owners for their roles in the housing and financial crisis, has been removed from NBC's Web site, prompting myriad conspiracy theories among the conservative blogosphere.

(You can read a transcript of the skit HERE (http://michellemalkin.com/2008/10/07/the-forbidden-skit-full-transcript-and-screenshots-of-snls-sorossandler-bailout-satire/) or watch a version of it HERE (http://patdollard.com/2008/10/it-is-here-the-banned-snl-skit-cannot-hide-from-louie/).) The skit singled out for ridicule Herb and Marion Sandler, who sold their savings-and-loan Golden West to Wachovia for $24.3 billion in October 2006.

Golden West, critics say, thrived by allowing borrowers to defer the interest on their monthly payments with adjustable rate mortgages, ultimately leaving borrowers with debt they could not afford to pay off.

Sandler spoke to the AP Sunday (http://www.usatoday.com/money/industries/banking/2008-10-05-sandler-golden-west_N.htm) about his feelings that he's being "unfairly tarred."

http://blogs.abcnews.com/politicalpunch/2008/10/barney-frank-sa.html

[angelatc]

The assumption that everybody can be a homeowner is wrong. We pushed and encouraged people into home ownership -- people who, in some cases, weren't ready for it. You can't act on wishes that are unrealistic without having negative consequences."

The consequences are that the Democrats will just *give* them homes, instead of making them pay for homes.

[jcarcinogen]

He pushed both versions of the Wall Street Bailout.
http://i35.tinypic.com/t83gx1.jpg

[Truth Warrior]

Member of the Congressional Progressive Caucus.

Frank is a member of the Congressional Progressive Caucus:

The members of the Progressive Caucus share a common belief in the principles of social and economic justice, non-discrimination, and tolerance in America and in our relationships with other countries. We also seek to embody and give voice to national priorities which reflect the interests and needs of all the American people, not just the wealthy and the powerful. Our purpose is to present thoughtful, positive, practical solutions to the problems confronting America and the world. In the post-Cold War era, we believe our nation’s priorities must change with the times and reflect new realities. Accordingly, we support curbs on wasteful, inefficient government spending at the Pentagon and elsewhere, a more progressive tax system in which wealthier taxpayers and corporations pay their fair share, adequate funding for social programs that are designed to extend help to low and middle-income Americans in need, and trade policies that increase the exports of more American products and encourage the creation of jobs and investment in America. Source:

Congressional Progressive Caucus website 01-CPC0 (http://www.ontheissues.org/Notebook/Note_01-CPC0.htm) on Oct 9, 2001

http://www.ontheissues.org/MA/Barney_Frank_Principles_+_Values.htm

[Truth Warrior]

Barney Frank
Democrat, Massachusetts (1981-present)



The Honorable Barney Frank kept his homosexuality in the closet until June 1987, and he told the House that the trouble he got into with prostitute Steve Gobie and its cover up were attempts to conceal his sexual preference.
Frank admitted that he had paid Steve Gobie for sex, had a brief sexual relationship with him, and then hired him as a personal assistant, paying for him out of Frank's own funds. Frank fired Gobie once he learned that Gobie was using Frank's apartment for prostitution.
Jeff Jacoby, Boston Globe reporter said: "Most pathetic of all was Frank's claim that he'd been 'victimized'--that he was a just a 'good liberal' who was 'trying to help' Gobie, but got 'suckered.'"



Frank to a direct approach with the Ethics Committee, asking them to investigate him. In a 75-page report, following an 10-month investigation, the committee found (http://www.congressionalbadboys.com/Ethics7.htm) that Frank


Brought discredit on the House by fixing 33 parking tickets he and Gobie received that were not incurred in connection with official congressional business.

Brought discredit on the House by writing a memo that included misleading information on Gobie and was eventually transmitted to a law enforcement official involved in Gobie's probation on sex and drug convictions.

Did not know, as he had been charged, that Gobie was using his Capitol Hill apartment for prostitution purposes.

Did not engage in sex with Gobie in the House gymnasium.

The House voted 408-18 to reprimand Frank. It was a tough, four-hour debate. It got ugly when the Honorable William Dannemeyer (Republican-California) started badgering Frank about his activities. "It's a cultural war" between "Judeo-Christian ethic" and "moral relativism," shouted Dannemeyer. Then the Honorable Julian C. Dixon (Democrat-California) lashed out at Dannemeyer, accusing him of using "edited, selective garbage" against Frank.
This is what the Honorable Thomas Foglietta (Democrat-Pennsylvania) had to say: "Barney Frank does not stand accused of stealing money, taking bribes or selling his office. Barney Frank is accused of being stupid and, my friend, if being stupid were grounds for expulsion, there'd be very few of us left here."
Frank was later asked about Dannemeyer's remarks: "There's something about homosexuality that sets Mr. Dannemeyer to vibrating. I don't know what it is."
Frank took to the House floor an apologized to his colleagues and conceded that he had erred. (Frank was only the seventh Member of Congress ever reprimanded).
At the same time, sex-related cases were brought up against Gus Savage (http://www.congressionalbadboys.com/Savage.htm), Jim Bates (http://www.congressionalbadboys.com/bates.htm), and Buz Lukens (http://www.congressionalbadboys.com/Lukens.htm). One Republican congressman: "I don't give a damn about Buz Lukens. . . I don't give a damn about Gus Savage . . . I don't give a damn about Jim Bates. . . . [But] if I was dying in the hospital, Barney Frank would come see me. The others would be filing for my office space." [For other pearls of wisdom, check the Quote Board (http://www.congressionalbadboys.com/Quotes.htm)].
Many colleagues and Washington know-it-alls figured Barney was done for. But his Massachusetts constituents stuck with him, and he's still in Congress. Check out Jeff Jacoby's article about Massachusetts. (http://www.congressionalbadboys.com/Massachusetts.htm)
Sources: Tom Kenworthy, "House Votes Reprimand for Frank," Washington Post, July 27, 1990, A1. Jeff Jacoby, "Sexual Double Standard in Senate," New Orleans Times-Picayune, Sept. 14, 1995, B7.

http://www.congressionalbadboys.com/Franks.htm (http://www.congressionalbadboys.com/Franks.htm)

[angelatc]

a more progressive tax system in which wealthier taxpayers and corporations pay their fair share,

My mind boggles at the concept that "fair" somehow involves millions of people who don't pay a dime, not to mention those who get refunds despite not having paid that same dime.

[TonySutton]

Barney Frank becomes a non issue if/when we return power to the states. Barney Frank is responsible to the citizens of MA. Since I am from Ohio I could care less. I will work for Liberty and will back candidates who will work for Liberty. Anything else is a distraction.

[Truth Warrior]

Barney Frank becomes a non issue if/when we return power to the states. Barney Frank is responsible to the citizens of MA. Since I am from Ohio I could care less. I will work for Liberty and will back candidates who will work for Liberty. Anything else is a distraction.

Ya gotta realistic plan timeline for that power return to the states? :p :rolleyes:

[obsolescence]

The next few years are gonna be a nightware. I think we're gonna live through a new New Deal and a renewed stigmatization of free markets.

[TonySutton]

Ya gotta realistic plan timeline for that power return to the states? :p :rolleyes:

No, I do not think there could even be a realistic time line. I am working locally to open eyes to the problems caused by the system as it now stands and showing how reclaiming liberty is the solution. By no means am I the kind of person who could run for office but I will do my small part locally and help out regionally and nationally when feasible.

Unfortunately I am in the rust belt so although many are sympathetic to the message that change needs to happen, most still feel the federal govt can fix it. ugh... but I am winning some over and with time, I am confident change can happen.

I honestly feel that after 2 years of Obama and a democratic congress the door will be wide open for us in 2010 to gain a foot hold in the House of Representatives. We have to start working now to get there. We need to identify good candidates for vulnerable districts and start getting our message on record in local media, spread the word and build a following. Then when 2010 rolls around the nationwide movement can get behind these candidates and help get them elected.

[Truth Warrior]

No, I do not think there could even be a realistic time line. I am working locally to open eyes to the problems caused by the system as it now stands and showing how reclaiming liberty is the solution. By no means am I the kind of person who could run for office but I will do my small part locally and help out regionally and nationally when feasible.

Unfortunately I am in the rust belt so although many are sympathetic to the message that change needs to happen, most still feel the federal govt can fix it. ugh... but I am winning some over and with time, I am confident change can happen.

I honestly feel that after 2 years of Obama and a democratic congress the door will be wide open for us in 2010 to gain a foot hold in the House of Representatives. We have to start working now to get there. We need to identify good candidates for vulnerable districts and start getting our message on record in local media, spread the word and build a following. Then when 2010 rolls around the nationwide movement can get behind these candidates and help get them elected. Color me highly skeptical. ;)

I believe the point of NO return is long passed. :(

[TonySutton]

Color me highly skeptical. ;)

I believe the point of NO return is long passed. :(

A Marine General named Chesty Puller once said "We're surrounded, that simplifies the problem."

And I think it fits our current situation. You can look at it as a lost fight or an opportunity to join the fight from where ever you currently stand. They are all around us, just step up and join the fight.

[Truth Warrior]

A Marine General named Chesty Puller once said "We're surrounded, that simplifies the problem."

And I think it fits our current situation. You can look at it as a lost fight or an opportunity to join the fight from where ever you currently stand. They are all around us, just step up and join the fight. Why does Masada suddenly spring to mind? :D

[MsDoodahs]

Gee, TW.....

That's so ... depressing....

[Truth Warrior]

Gee, TW.....

That's so ... depressing.... Yep, that is a problem with being a TRUTH Warrior. ;)

[HOLLYWOOD]

He pushed both versions of the Wall Street Bailout.
http://i35.tinypic.com/t83gx1.jpg

If a picture's worth a 1000 words...

This ones gotta be worth a MILLION WORDS!

Oh, and TRILLIONS in DEBTS and TAXES.

What ELITIST SCHMUCKS sticking it to the people!

[Truth Warrior]

If a picture's worth a 1000 words...

This ones gotta be worth a MILLION WORDS!

Oh, and TRILLIONS in DEBTS and TAXES.

What ELITIST SCHMUCKS sticking it to the people! Nope, just the Demo ............. er ............ libera ................... er .............. Progressi ............. er .......... socialists.

http://i75.photobucket.com/albums/i304/Truth_Warrior/Socialism_by_miniamericanflags.jpg

[Zera]

I sometimes wish he'd just die of a stroke or something. I mean, death can't be far off with his health.

[TonySutton]

I would prefer he wake up one day and see the light of Liberty.

[Zera]

I would prefer he wake up one day and see the light of Liberty.

He won't, just give up on him.

[MsDoodahs]

Would be nice if his nose were removed from the trough by the people in his state.

But the people in his state adore him.

So the rest of us are fucked ... by the people of one leftist state.

[heavenlyboy34]

Nope, just the Demo ............. er ............ libera ................... er .............. Progressi ............. er .......... socialists.

http://i75.photobucket.com/albums/i304/Truth_Warrior/Socialism_by_miniamericanflags.jpg

Nice pic! Applies well to just about every elected official. :D

[TonySutton]

He won't, just give up on him.

I am an optimist and prefer to win the war through conversion not through attrition. Although, I am not opposed to attrition ;)

[Carole]

He pushed both versions of the Wall Street Bailout.
http://i35.tinypic.com/t83gx1.jpg
I totally despise this picture. It is such a perfect example of those clowns.

But just to look at it makes me physically ill. :(

[Knightskye]

I would prefer he wake up one day and see the light of Liberty.

Phillies is in MA, isn't he?

Maybe he could run against Frank.

They both creep me out when they speak, but Phillies at least acts like a libertarian.

[Bman]

Barney Frank is an idiot... and Gay (http://www.youtube.com/watch?v=fK631vOJ9LY)

[cheapseats]

http://i35.tinypic.com/t83gx1.jpg


Confederacy of Dunces

[cheapseats]

I know this is a substantially Pro-Life crowd and I mean no disrespect. I believe this AND I believe it's important, that's why I say it, not to piss people off. I am a strong proponent of the Death Penalty. This is not to say that I run around gleefully crying, "C'mon! Let's kill people!"

This is to say that our society is run badly amok. We're too broke to help people who need help and who deserve it if anyone does, yet we support people on death row by the busload and the decade. It is ridiculous. If we ever get 'round to killing them, we sterilize the needle used in a lethal injection. We are as crazy people.

Mind, I am for expeditiously running DNA tests on anyone who claims wrongful incarceration, pre-DNA testing, for crimes with DNA stored in evidence. In cases, God help us, where the person is exonerated, a quick 'if you'll just sign here saying you won't sue us, you'll be on your damaged way.' Ditto anyone in on drug possession and/or use. Or use "with intent to sell," defined strictly by volume. ;)

I am for locking up many fewer people, though many more Executives.

But the cut-em-up-and-keep-em-in-the-freezer crowd? Flip the switch is what I'd usually say, but now I favor firing squads.

I learned in the past year that with firing squads, only one shooter has real ammunition such that, excellent marksmen all, they never know which of them killed the...deceased. I will argue that that is far less ghoulish than the run-up to electrocutions or injections. It is less barbaric than beheading and less garish than hanging. That it is colossally more cost effective is obvious.

Anyway, the reason I mention it is because I believe that traitors should also be shot by firing squad.

And because I believe that corruption in Public Office is traitorous.

[Shii]

http://www.youtube.com/watch?v=u1Mazjm_A5k

He said we needed to act keynesian.

I wonder if Barney Frank knows about Austrian economics.

Barney's foreign affairs LA is a fan of Ron Paul. Barney himself does not like the Austrian idea, probably because it accepts the inevitability of crashes like this one. Maybe he's not "in tune with liberty" on that one-- we get a weak signal here in Massachusetts. But knows the banks control the Fed and he wants it reformed.

Sssh.... you didn't hear this from me....

[werdd]

pole smoking socialist.

[Truth Warrior]

Barney's foreign affairs LA is a fan of Ron Paul. Barney himself does not like the Austrian idea, probably because it accepts the inevitability of crashes like this one. Maybe he's not "in tune with liberty" on that one-- we get a weak signal here in Massachusetts. But knows the banks control the Fed and he wants it reformed.

Sssh.... you didn't hear this from me.... Barney dislikes the Austrian idea because he is a SOCIALIST.

http://en.wikipedia.org/wiki/Progressive_Caucus (http://en.wikipedia.org/wiki/Progressive_Caucus)

Reading and understanding the 10 planks of the Communist Manifesto answers many questions about WHY the Dumbocrats do anything.<IMHO>