Barney Frank and the Bailout Boondoggle
Barney Frank thought he could charm his way through another massive failure. It appears that his constituents have had enough. House Financial Services Committee Chairman Rep. Barney Frank (D-Mass) is considered the engineer of the financial train wreck now taking down Wall Street and Main Street, according to a new poll from the Boston Herald.
Herald Pulse:Who is more to blame for the Wall Street meltdown?
20% - George Bush
53% - Barney Frank
3% - Barack Obama
1% - John McCain
10% - Bill Clinton
13% - Alan Greenspan
Poll Closed: 2008-09-30
Total Votes: 7,657
The newspaper points to a YouTube video of Barney Frank in the fall of 2003, swearing that Fannie and Freddie (are) not in a crisis!” and are "fundamentally sound financially." I'd love to blame Barney Frank or Nancy Pelosi for this failure but the real responsibility lies with the US taxpayers and the US voters and they have told lawmakers that they have had enough of giving cash to billionaires.
US voters have had enough. Members of the House of Representatives report that phone calls and emails coming in to their offices have run as much as 1,000 to 1 against the financial bailout proposal.
Many certainly believed that the sheer magnitude of the frightening scenarios that are being painted by many levelheaded people would be enough to force the bailout bill right through both houses of congress but after the voters started contacting their representatives, they actually took the day. The voters won on Monday as their voices were heard.