Wednesday, June 24, 2009

Barney is at it again

No not the dinosaur. The Congressman from Massachusetts. Ignoring the fact that the Clinton Administration in large part created the mortgage crisis that nearly caused a global economic meltdown Barney Frank has decided to impart more of his "wisdom" on the financial community.

(Reuters) - Two U.S. Democratic lawmakers want Fannie Mae and Freddie Mac to relax recently tightened standards for mortgages on new condominiums, saying they could threaten the viability of some developments and slow the housing-market recovery, the Wall Street Journal said.

In a letter to the CEO's of both companies, Representatives Barney Frank, the chairman of the House Financial Services Committee, and Anthony Weiner warned that a 70 percent sales threshold "may be too onerous" and could lead condo buyers to shun new developments, according to the paper.

Can someone please tell me why there is not mandatory random urine testing in Congress. If its important enough to test folks that have jobs that could require in heinous crashes involving hundreds of death doesn't logic then dictate that people like Barney who can cause a crash that will ruin the lives of millions to be tested as well?

The rest here.

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