I got my property valuation notice in the mail today. Thanks to the idiocy brought to us in part by the unintelligible, mush-mouthed, paste-eating, clown-act Bawney Fwank, I have now lost 50% of the equity in my home.
Honorable mentions go to Chris Dodd (currently under Congressional investigation for corruption), Maxine Waters, Gregory Meeks, Franklin Raines, and all the other weasels who defended and benefited from the corrupt accounting practices of Fannie Mae and Freddie Mac.
But special mentions have to be reserved for the guy who, rumor has it, is the love child of Elmer Fudd and Porky Pig. Barney Frank has been the ranking Democrat of the House Banking Committee since 2003, and the Chairman since 2007. He has been personally involved in all this mess for the last six years, and not only did nothing to fix the problems, but actively defended the policies. He said, “These two entities [Fannie Mae and Freddie Mac]…are not facing any kind of financial crisis….” Such foresight should not go unrewarded.
Fannie Mae and Freddie Mac gave $42,350 to Franks reelection campaigns, but that’s just the direct contributions. That doesn’t include the “personal” contributions from employees and board members of the two mortgage giants, nor does it include the contributions from lobbyist groups, individuals lobbying group employees and board members, PACs, individual PAC employees and board members, or Professional Associations to which Fannie and Freddie belonged, and their employees and board members. Visit the Independence Caucus website for an explanation of how the grafting works. It’s a pretty safe bet that Rep. Frank received hundreds of thousands, if not millions, of dollars in contributions directly or indirectly from Fannie Mae and Freddie Mac.