"Frank recommended partner for housing agency; Says legislative role wasn’t compromised" by Donovan Slack, Globe Staff / May 27, 2011
WASHINGTON — Representative Barney Frank, who for more than two decades has been a member of the House committee charged with oversight of mortgage giants Fannie Mae and Freddie Mac, acknowledged yesterday that he recommended his live-in companion for a job at one of the housing agencies in the early 1990s....
See: Lawmaker Accused of Fannie Mae Conflict of Interest
Barney Frank's Bad Loans
Frank confirmed an account of the hiring that appeared in a new book about the nation’s financial crisis by New York Times reporter Gretchen Morgenson. But he said his then-companion, Herb Moses, was qualified for the job....
Moses left the job at Fannie Mae in 1998, the year Frank and Moses split up....
Morgenson discussed Frank’s actions in a National Public Radio interview this week, and the issue was reported by the Boston Herald yesterday. Morgenson said in an interview with the Globe yesterday that the hire is an example of the cozy relationship that Fannie Mae executives had with lawmakers who were charged with overseeing them....
Just like OIL, GAS, COAL, and EVERY OTHER INSTITUTION regulated by government in AmeriKa!
Morgenson also reported in the book that Fannie Mae made sizable grants — $25,000 in 1994 and $50,000 in 2001 — to a Boston organization cofounded by Frank’s late mother and twice gave the group an award for its work in providing housing for the elderly....
Not that I approve of looting taxpayers; however, that is SO CHUMP CHANGE compared to the TRILLIONS of FRAUD coming from WALL STREET!!
The Globe reported last fall that Frank, after becoming ranking member of the Financial Services Committee in 2003, missed warning signs that Fannie and Freddie were underwriting risky loans that could threaten their solvency.
He didn't "miss" them; he purposefully avoided and actively obfuscated them!!
He told the Globe that he had been wearing ideological blinders — that he believed criticism of the agencies was motivated by partisanship and without merit.
I thought only icky Repuglicans were guilty of that, Barn?
Related: Frankly Speaking
That is a word I would use to describe reading the newspaper.
Fannie and Freddie nearly collapsed in 2008, forcing the federal government to buy $150 billion worth of stock in the enterprises and $1.36 trillion worth of mortgage-backed securities.
You know, those FRAUDULENT PIECES of CRAP Wall Street sold everyone!
Related:
“They’ve cleared the decks to use Fannie and Freddie as a vessel for whatever they want.... taking troubled mortgage investments off banks’ books.’’
And how much is that going to cost, readers?
"Obama’s budget blueprint also excludes the $6.3 trillion in liabilities of government-controlled Fannie Mae and Freddie Mac and delays for a second time a decision on restructuring the mortgage finance companies, which were seized 17 months ago"
I think the TAB is a LOT MORE than THAT!
See: FORECLOSURE FRAUD & $45 TRILLION DOLLARS
Wow, that is ONE HELL of a BILL !
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And look who gets the criminal charges:
"Edwards likely to face criminal charges; US said to allege he misspent funds" May 26, 2011|By Katharine Q. Seelye, New York Times
NEW YORK — The Justice Department plans to move ahead with criminal charges against former senator and presidential candidate John Edwards, contending that he misused campaign funds to cover up an affair with his mistress, a person close to Edwards said yesterday....
And support a kid.
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