Just call him the Gay Looter!
This was a tough article to get through as I finally became aware HOW MASSIVE the LOOTING of America REALLY IS!!!!
"Frank's portfolio weathered stock-market tumble; Conservative investments were the key" by Susan Milligan, Globe Staff | June 22, 2009
WASHINGTON - Representative Barney Frank may have failed to prevent Wall Street from pursuing its high-risk investment behavior, but in his personal finances, the House Financial Services Committee chairman has taken his own tough advice.
While other lawmakers have suffered declines in their personal investments because of the plummet in stock prices, the liberal Massachusetts Democrat has fared better by being conservative in his own finances, putting his $896,000 investment portfolio largely in state and local municipal bonds, according to a review of local lawmakers’ financial reports.
Typical liberal: HYPOCRISY all the way! But wait, there is SO MUCH MORE!!!!!!
“It’s not just coincidence - it’s putting my money where my mouth is,’’ said Frank, who has slammed Wall Street for high-risk financial practices many lawmakers blame for the ailing economy. “I made money while other people lost money.’’
Yeah, OFF TAXPAYERS!!!!!!!!!!
While the stock market plunged by 28 percent last year, Frank’s municipal bond investments earned him a steady, reliable rate of interest - for a total of $42,000. He also took in more than $10,000 in capital gains from his Calvert Social Investment Fund, his only stock investment fund.
Other members of the Bay State’s congressional delegation appeared to have been hurt by the plunge in the stock market last year....
Representative Edward Markey, for example, reported taking in between $14,314 and $42,700 in interest and dividends in 2007, but just $8,312 to $25,000 last year....
Oh, the FART-MISTER STILL MADE MONEY, huh?
Related: Slow Saturday Special: Protecting Politicians
Many other Massachusetts lawmakers’ investment incomes remained relatively stable, although the financial disclosure forms do not provide enough detail to determine how much the lawmakers’ portfolios suffered last year.
“Representative Markey and his wife have seen the same type of losses in their mutual funds as many other Americans have experienced last year,’’ said Daniel Reilly, a spokesman for the Malden Democrat....
BULL!! He GOT PAID DIVIDENDS!!!!!
Now let's see about Barney Blowhard:
Frank provided far more detail about his personal investments than is required by law, attaching account summaries provided by Smith Barney, his brokerage and asset management firm.
Yeah, he's a real trooper!
The congressman said he attached the statement because “it’s easier’’ than typing in a list of investments and transactions, although the extra disclosure gives the public more insight into the personal monetary decisions made by one of the most powerful figures overseeing financial services....
This will let you know how CORRUPT the system really is.
While a stock purchase gives an investor a piece of a company, a bond is an investment in a company or municipality’s debt.... Bonds deliver twice-yearly payments from a set interest rate, making them a reliable source of income insulated from the fluctuations in the stock market, said Todd M. Millay, managing director of Choate Investment Advisors.
I'm starting not to like this scenario that Barney made the money off, folks.
Municipalities rarely default on their bonds, since - unlike corporations - they can raise taxes to pay them off.
Oh, so the TAX HIKE will be PAYING OFF BONDHOLDERS like Barney Frank, huh?
Localities also know that if they default, they may have a very difficult time securing bonds in the future, Millay said. “They’re not going to go out of business,’’ he said.
No, but you EVER HEAR of a GHOST TOWN? A BANKRUPT STATE?
Readers, the POLITICIANS are SELF-SERVING LOOTERS that are STEALING FROM YOU!!!!
And the INSULTINGLY ELITIST, AGENDA-PUSHING PAPER thinks it is a GOOD THING!! That's how they are LOOKING OUT for YOUR INTERESTS, taxpayers!
Frank’s focus on municipal bonds largely spared him from the fallout from the stock market drop.
Well, THAT'S GREAT!! We all TOOK a BATH while THAT NEGLIGENT LOOTER made $$$$ -- from US!!!!
Further, since interest from municipal bonds - unlike stock dividends and capital gains - are tax-free, Frank avoided a higher tax bill, as well.
Oh, I SEE!!! The HIGHER TAX BILLS are ONLY FOR the PEOPLE -- as well as the DEBT PAYMENTS to BANKS and POLITICIANS!!!
Oh, Lord, FORGIVE ME for the RAGE I AM FEELING RIGHT NOW!!!!!!!!!!!!!!!!!!
Readers:
“He knows he can sleep well at night, because if these guys pay, he’s fine. And these guys pay,’’ said Michael Toporek, chief investment officer with Brookstone Partners Asset Management.
I wouldn't sleep to soundly, Barn. Tar and feathers coming for you f***** ass!
So WHERE does the $$$$ COME FROM, readers?
Municipal bonds, issued by localities to raise money for infrastructure repair and other public projects, can produce income in two ways: through a sale of the bonds, and through the interest payments the bond issuers pay investors.
Yup, so the GENEROUS Congresshit is going to HELP US by MAKING US MAKE INTEREST and DEBT PAYMENTS to him!!!!
And according to the s***-stinking paper, it's a GOOD THING!!
But they are LOOKING OUT for YOU and the PUBLIC INTEREST, right?
Yes, I despise newspaper now!
People who invest in such bonds can either hang onto them until they reach maturity (often a period of 20 years), collecting the interest on them during those years, or they can sell them.
Translation: The TAXPAYER has to PAY MORE for the SAME SERVICES because of DEBT PAYMENTS!!
With looters like these around, no wonder the STATE is going broke.
Since the bond market changes depending on the economy, sellers often get a different price than the original value of the bond. Frank did suffer some long-term, on-paper losses on his bonds - less than $5,000 - because he sold some bonds for less money than he paid for them.
Oh, I'm bleeding for the fat f***!!!
Had Frank hung onto the bonds a bit longer, he might have made money from the sales, said Shannon Zimmerman, senior analyst at The Motley Fool, an investment advice firm.
Yeah, he really sacrificed for us.
And how come you never hear of this Zimmerman anymore?
But the loss was far outweighed by the interest income and tax advantages Frank secured by his investment strategy.
I was spitting profanities when I read this!
In fact, Frank said, he made too much money on municipal bonds, whose interest rates he said were too high, given their low risk.
Every sentence reveals a WORSENING of the LOOTING and it is TRULY DEPRESSING and DEMORALIZING!
This nation NEEDS a REVOLUTION -- and it sure ain't gonna come from LIBERALS!!!!! And GET THIS:
Frank is preparing legislation that would make some municipal bond investments less profitable, easing financial stress on some lower-income states and communities.
Oh, yeah, AFTER HE MADE ALL HIS $$$$ off the POOR CITY and TOWN FOLKS!!!!!!!!
What TOOK YOU SO LONG, Barn?!!!! WTF, readers?
How much you wanna bet his legislatioN GOES NOWHERE?
Municipal bonds are rated in a different way than corporate bonds, and communities tend to be slapped with higher interest rates, despite the fact that municipalities rarely default, said Representative Michael Capuano, a Somerville Democrat who is working on the legislation with Frank.
It is called LOOTING, pure and simple!!!!
Yeah, YOU BET I'M ANGRY!!!!!!
(Capuano and his wife earned about the same in interest and dividends last year as they did in 2007, according to his financial disclosure reports, going from a range of $1,205 to $4,100 in 2007 to a range of $1,414 to $6,700 in 2008.)
Oh, well, I'm glad he's doing fine: Defense Lobbyist Had Ear of Congress
Further, lower-income communities are seen as higher-risk, and are often forced to pay more to float municipal bonds than wealthier communities, said Capuano, the former mayor of Somerville.
So Barney and his buddies are RIPPING OFF the POOR MOST of ALL, huh?
Yup, THAT'S a LIBERAL, for you!!!!!!
Un-fucking-BELIEVEABLE!!!!!!!!!!!!!!!!!!
Frank and Capuano have proposed rating municipalities and corporations the same way, a change they said would bring down municipal bond interest rates. The risk ratings “should be solely on the basis of statistically sound measure,’’ such as making payments on time, Capuano said. “It shouldn’t be on the basis of [the wealth of] your population.’’
Yeah, there are a LOT of ways the WORLD SHOULD BE, s***ter, but it is NOT!!
As in this case -- and all cases -- it is because of SELF-SERVING SHITS like YOU GUYS!!!!!!!!!!
--more--"
Memory Hole: Barney and Business
Barney Frank is Bush's Best Friend
Barney Frank Benefited From Bailout Bill
Frank Fiddled With Bailout Funds (And Other Frauds)
Slow Saturday Special: Protecting Politicians
Now I'm REALLY DISGUSTED by the guy!!!!
