![]() The same housing bubble that Barney Frank’s pet policies led to. Barney Frank co-sponsored the law that tightened banking regulations after the financial crisis, but since leaving office he has been. House of Representatives from Massachusetts, voiced concerns regarding the safety of gay Americans, an Islamic. The result? A collapse of the housing bubble that has led to a worldwide recession. Kossoff Lecture welcomes Barney Frank to Roosevelt House for a special evening celebrating the recent publication of his memoir Frank: A. Barney Frank, a long serving member of the U.S. Brian Sullivan and 'Last Call' to discuss Barney Frank's efforts to ease financial regulations after he joined the. These loans were made with virtually no down payment (sometimes no down payment!) to people with less than spectacular credit. mortgages were categorized as subprime or Alt-A. Because these policies incentivized and even mandated banks to extend subprime loans, a shocking 40% of U.S. To quote Barney Frank circa 2003, “The more people exaggerate these problems, the more pressure there is on these companies (to reform), the less we will see in terms of affordable housing.” Only a year later, he ostensibly had still not recognized his mistake and is quoted saying, “I do think I want to roll the dice a little bit more in this situation towards subsidized housing.”įor those who are unfamiliar, the underlying cause of the current credit crisis was a housing bubble. Barney Frank, a former House Democrat from Massachusetts, has been the subject of criticism since federal regulators took over Signature Bank on Sunday. Barney Frank is a Politico columnist and a former Democratic representative from Massachusetts. As Fannie and Freddie were taking on billions in subprime debt, Barney Frank continued to assure us that that there was no financial crisis and press for more affordable lending. After they were enacted and in place, Frank refused to admit that there was a problem. The mistakes did not stop at supporting these policies. Massachusetts congressman Barney Frank has announced his retirement effective at the end of next year, closing out a career of more than three decades capped by passage of legislation imposing. Former fiery Bay State Congressman Barney Frank the co-author of the Dodd-Frank landmark banking bill reportedly tried to take some teeth out of the law.
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