Barney Frank Says Shibboleth

Mr. C. Craft, a close personal friend, pointed out in the comments section of this post an article from Business Week that tries to downplay the importance of the CRA (the result of well-intentioned idiocy of the social engineering type) in the creation of the subprime bubble. You can read the article here.

The article is at best insubstantial using common fallacies to downplay or erase the huge amount of blame that the Democrats in the legislature bear for the current crises. The CRA is only one element of GSE's and the myriad socialist policies in place now that have led to, and will continue to lead to failure. Remember, in today's American politics Democrat=Socialist.

Anyway, you can read the Business Week article for yourself and judge. Then you can watch this video of the Democrats, to include the illustrious Barney Frank, shooting down Republican attempts to forgo this disaster years ago by taking Freddie Mac and Fannie Mae to task.


And now we have the Bail-out. See the cycle yet?