Washington D.C., June 25, 2009 (exclusive to eGrumps)
Congressperson Barney Frank (D, Mass.) now Chairman of the House Financial Services Committee has asked both Fannie Mae and Freddie Mac to loosen up their lending standards for mortgages on new condominiums. It wasn’t too long ago that Congressperson Frank said he was willing to roll the dice with Fannie and Freddie and he saw no problem with their almost non-existent lending standards. Well, the dice were rolled, and the American taxpayers lost, big time.
Now, not having learned his lesson with loose lending standards for Fannie and Freddie, old Barney wants to repeat his mistake. It is truly too bad that the American taxpayers have had to pay for the past stupidity of people like Barney Frank. Now – he wants us to pay again if (that should be “when”) the house of cards collapses once again.
As the American philosopher, George Santayana, said: “Those who do not learn the lessons of history, are doomed to repeat its mistakes”
If this weren’t so serious, it could be considered funny. With all due respect, Congressperson Frank, I think you are a certified idiot.
For his good judgment, superior reasoning, and outstanding talent to forget, Barney Frank gets the eGrumps First Annual History de javu Award.
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