Tuesday, December 16, 2008

Top ten people responsible for the economic collapse.

US News and World Report's James Pethokoukis names names. My favorite is number 7

Barney Frank. This is a quote, from 2003, that the Massachusetts Democrat would like to have back: "These two entities—Fannie Mae and Freddie Mac—are not facing any kind of financial crisis. The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.'' Turns out that the two government-sponsored entities were walking farther and farther out onto thin financial ice. And as late as last year, Frank wanted Fannie and Freddie to take on even more subprime risk. Washington and Wall Street have to share the blame for the financial crisis.

If you only got your news from the leftist dailies and blue journalism cable news shows you'd think Democrat Barney was a brilliant economic strategist.


Anonymous said...

Barney is the Barney Fife of this economic crisis.

Jack said...

I think the White House's Barney the dog or Barney from Sesame St would have done a better job.

Anonymous said...

Don't forget Barney Rubble.