Tuesday, September 16, 2008

Barney Frank's statement on Freddie/Fannie in 2003

Unbelievable and Barney Frank has much more power today than he did in 2003.

"The more people, in my judgment, exaggerate a threat of safety and soundness (of Freddie Mac and Fannie Mae), the more people conjure up the possibility of serious financial losses to the Treasury, which I do not see. I think we see entities that are fundamentally sound financially and withstand some of the disastrous scenarios. And even if there were a problem, the Federal Government doesn't bail them out. But the more pressure there is there, then the less I think we see in terms of affordable housing."