by Pete the Banker
The two personalities of Barney Frank, House Chairman of the Financial Services Committee,
Barney Frank to CNBC this week,
“One of my biggest differences with the Bush and even with the Clinton administration was that they overdid that. I have always been critical of this effort to equate a decent home with homeownership. We should have done more to get affordable rental housing.”
Barney Frank back in 2005,
“Homes that are occupied may see ebb and flow of price at a certain percentage level, but you’re not going to see the collapse that you see when people talk about a bubble. So those of us on our committee will continue to push for home ownership.”
Isn’t it fortunate Congress is lead by members who display such remarkable foresight and deeply held commitment to long term beliefs and values??? Barney Frank was an enthusiastic supporter of homeownership in 2005 when he felt there was no possibility of a housing bubble. He is now suggesting that homeownership is overrated! Ironically, he has recently supported the massive bailouts of Fannie Mae and Freddie Mac together with the Administration’s Home Affordable Modification program to allow delinquent borrowers to retain ownership of their homes. No hypocrisy evident here??!
So what is it you really believe in Congressman Frank?
Tell ’em where you saw it. Http://www.victoriataft.com
