Barney Frank at it again! Didn’t he do enough damage with Dodd-Frank?
February 9, 2012
From the Los Angeles Times: Rep. Barney Frank and two other House Financial Services Committee Democrats on Monday pressed Edward DeMarco, the regulator of seized housing finance giants Fannie Mae and Freddie Mac, to write-down the principal on mortgages of underwater homes.
It’s a great thing that Barney Frank is not running for office again, but he seems determined to leave the country in chaos. Though it sounds like a wonderful “Robin Hood” story if Fannie and Freddie would essentially forgive principal on underwater homes, it is my opinion this would kill home values and throw the real estate market into more chaos.
Just as the real estate market is leveling out and things are getting better, Barney seems hell bent on throwing another wrench into a market that he nearly collapsed by forcing Dodd-Frank onto the lenders and giving loans to people who could not afford them. His term ends in January 2013, but why doesn’t he either a) drop dead or b) resign and leave us alone?
- Fedupeditor
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Yes, any marches for Underwater Organizations, count me in. I’m trying to be ethical and not walk away from my house, but why would I protect myself with honesty in a world of criminals? Struggling to keep my ethics intact and losing….Someone give me a reason to “throw my pearls” to Dodd Frank swine!!!