Barney Frank Accused of Fannie Mae Conflict of Interest

Gee, you think?

"Unqualified home buyers were not the only ones who benefitted from Massachusetts Rep. Barney Frank’s efforts to deregulate Fannie Mae throughout the 1990s.

So did Frank’s partner, a Fannie Mae executive at the forefront of the agency’s push to relax lending restrictions.

Now that Fannie Mae is at the epicenter of a financial meltdown that threatens the U.S. economy, some are raising new questions about Frank's relationship with Herb Moses, who was Fannie’s assistant director for product initiatives. Moses worked at the government-sponsored enterprise from 1991 to 1998, while Frank was on the House Banking Committee, which had jurisdiction over Fannie."

Barney Frank Bankrupts Fannie Mae/Freddie Mac

Listen to this.

"When the Democrats took over the House of Representatives and the Senate back in January of 2007, the Dow Jones Industrial Average was at an all-time high of 12,400 and gas prices hovered around $2.15 per gallon. The Republican-led Congress of the previous 4-years had left a strong-economy in the hands of Socialist Democrats.


Fast-forward two years, under Democrat-controlled Congress. Just last week the Dow Jones hit a 5-year low of 10,485 and gas prices loomed near $4 dollars a gallon."

Barney Franks speaks about the crisis - video