O'Reilly Blasts Barney Frank

[LePaul]

http://www.youtube.com/watch?v=RAuOEdttjZQ

Awesome!

[Sixpence]

http://www.youtube.com/watch?v=RAuOEdttjZQ

Awesome!

pffft, you should see when my sisters in law get together

[Holden McGroin]

I wish everyone were as angry at congressmen.

[Toad]

I hate the scream & counterscream talking head shows. Frank is a jackaxe; he did have his fingerprints all over this Freddie/Fannie mess. But Bill is a jackaxe too; Frank was right, Bill was boorish.

Now, you want to see what went down? Don't let talking heads spew all over you, do a little research. The evidence is out there.

http://www.independent.co.uk/opinion/commentators/dominic-lawson/dominic-lawson-democrat-fingerprints-are-all-over-the-financial-crisis-949653.html

...What is the proximate cause of the collapse of confidence in the world's banks? Millions of improvident loans to American housebuyers. Which organisations were on their own responsible for guaranteeing half of this $12 trillion market? Freddie Mac and Fannie Mae, the so-called Government Sponsored Enterprises which last month were formally nationalised to prevent their immediate and catastrophic collapse. Now, who do you think were among the leading figures blocking all the earlier attempts by President Bush – and other Republicans – to bring these lending behemoths under greater regulatory control? Step forward, Barney Frank and Chris Dodd....

...Maxine Walters' complaint about previous attempts to bring the great state-sponsored housing finance bodies under stricter control was partly a reference to Bill Clinton's efforts. Last week the former President acknowledged that "responsibility" for the absence of proper regulation rested "with Democrats who were resisting any efforts of Republicans in Congress, and earlier when I was President and tried to impose tighter standards on Fannie Mae and Freddie Mac". Then, as now, members of his own party saw all such initiatives as unwonted attacks on the chances for low-earners, and particularly African-Americans, to own their own homes....

That's not Bill O'Reilly blaming the Democrats... that's BILL CLINTON blaming the Democrats.

'Nuff said.

[Yeager]

I hate the scream & counterscream talking head shows.

I watched about ten seconds of it.  If they are going to behave like that I wish they would just beat each other to death and get it over with. 

[Sixpence]

http://www.businessweek.com/investing/insights/blog/archives/2008/09/fannie_mae_and.html

According to this, it wasn't fm and fm writing bad loans, they were actually writing good loans. The problem was they were buying all the bad loans from the private sector.

Now, I ask you, why would you buy loans that you wouldn't write yourself?

Well, if this is accurate, it becomes quite clear. The government was using fm and fm to bailout the private sector long before they asked for a bailout. But as big as they were, they were not big enough to buy all the bad loans

[LePaul]

As anyone who worked in the bank world would tell you, Congress put the pressure on banks to give these risky loans or face investigation/fines for not doing so

[Niceguy]

I don't watch much of O'Reilly (the guy get's on my nerves) but I did see that interview and couldn't help but laugh. Barney blamed everyone but himself. As a matter of fact he said HE was the one trying to get things under control.

Funny and sad at the same time.

[sluggish]

Somebody needs to call these jokers out. O'Reilly probably was a bit over the top but people like Frank NEED to be screamed at.  No one is holding them accountable for anything.  The fact is that although Frank likes to say he's all for more regulation and John McCain is against it, Frank has been trying to block regulation as far back as 03' (when McCain was pushing for it).

[Sixpence]

As anyone who worked in the bank world would tell you, Congress put the pressure on banks to give these risky loans or face investigation/fines for not doing so

lol, what, by deregulating them? Wow, i'd cave under that pressure for sure

[humble]

http://www.businessweek.com/investing/insights/blog/archives/2008/09/fannie_mae_and.html

According to this, it wasn't fm and fm writing bad loans, they were actually writing good loans. The problem was they were buying all the bad loans from the private sector.

Now, I ask you, why would you buy loans that you wouldn't write yourself?

Well, if this is accurate, it becomes quite clear. The government was using fm and fm to bailout the private sector long before they asked for a bailout. But as big as they were, they were not big enough to buy all the bad loans

sixpence,

this is a factually incorrect and poorly researched article. Problems with Fanny & Freddie go way back. Easily two of the most corrupt and poorly run entities in the world. This comment was down below and matches well with audited numbers I've seen elsewhere...



Fannie Mae and Freddie Mac, the country's second-biggest mortgage finance company, together owned a record $6.9 billion of foreclosed homes on March 31, compared with $8.56 billion held by all 8,500 U.S. commercial banks and savings and loans

[Kaw1000]

Wow U go Bill!!

[LePaul]

lol, what, by deregulating them? Wow, i'd cave under that pressure for sure

Sadly the video that explained it quite well got removed from YouTube for the music in it (Warner Brothers asked it to be removed).  Go fig.

[Sandman]

O'Reilly is an ass, but if the U.S. had a House of Commons, I'd elect O'Reilly just for the entertainment.

[Stringer]

I watched about ten seconds of it.  If they are going to behave like that I wish they would just beat each other to death and get it over with. 

Yeager speaketh the truth!