Question by Change Now: What did Barney Frank have to do with wrecking our economy?
I am reading The Big Short by Michael Lewis.
It’s about how the Wall Street geniuses were allowed by the GOP Congress under Clinton to wreck our economy thru the securitization of mortgage loans into AAA rated bonds.
The SEC under Bush was absent or was told to be absent by the Republicans (remember Bernie Madoff)
No where is Barney Frank mentioned. What role if any did he play?
Best answer:
Answer by Chris Christie
Fannie Mae
That book is liberal lying bullshit!
Carter’s Community Reinvestment Act started the ball rolling on the eventual collapse.
Threats of racism accusations by the Congressional Black Caucus kept anyone from repealing it.
http://en.wikipedia.org/wiki/Community_Reinvestment_Act
Give your answer to this question below!
