Frank Fesses Up: Gov't Shares Blame For Financial Crisis

[Geee]

Investors Business Daily:

In a startling admission, the architect of the biggest regulatory hit on Wall Street since the New Deal now agrees with critics that Washington deserves as much blame for the financial crisis as Wall Street.

 

Former Democratic Rep. Barney Frank, co-author of the Dodd-Frank Wall Street Reform and Consumer Protection Act, said in a recent forum on the crisis that the government — through its decades-long national homeownership campaign and affordable housing goals — "propelled" lenders and investors to excesses they would not have otherwise gone to in the absence of such political incentives.

 

Frank, former chairman of the House Financial Services Committee, made the stunning remarks at the close of a 90-minute panel discussion hosted by the American Action Forum and held earlier this month in Washington.

 

 

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This from one of about 10 people that should be serving time over this.

Hell has officially frozen over!!