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Frank Vows Bank Executive Prosecutions

From an elated Reuters:

Financial Reform Push Reignited By Rep. Frank

by Kevin Drawbaugh and John Poirier

Mar 5, 2009

U.S. financial regulation reform, sidelined for months by the market crisis, got a boost on Thursday as Rep. Barney Frank laid out plans for legislation to overhaul mortgage financing, combat predatory lending and prevent credit card lender abuses.

Vowing to turn his focus from stabilizing the financial system to fixing it, the chairman of the House of Representatives Financial Services Committee said he plans to bring the legislation this month to the House floor.

Frank, a Massachusetts Democrat, said he will also hold hearings on creating "a strongly empowered systemic risk regulator." Hearings are set for March 17, 20, 24 and 26…

Wrongdoers will be prosecuted, he said. The committee will ask U.S. law enforcement authorities about their plans to prosecute executives and institutions that contributed to the worst financial crisis in generations.

"The American public has the right to know what enforcement actions are contemplated against those irresponsible and, in some cases, criminal actions that led to the current situation," Frank said

Perhaps the best defense is a good offense, after all.

Of course in an even slightly more just world, Mr. Frank would be the first in line to go to jail.

For Mr. Frank led the vanguard of those pushing banks and other institutions to give mortgages and loans to people who could not afford them or who probably would not pay them back even if they could.

Mr. Frank also fought tooth and painted nail any effort and all efforts to regulate Fannie Mae and Freddie Mac and the other government lending institutions.

But to hear this grotesquely corrupt blowhard calling for show trials and the prosecution of others really takes the biscuit.

(Thanks to CGardner for the heads up.)

This article was posted by Steve on Friday, March 6th, 2009. Comments are currently closed.

26 Responses to “Frank Vows Bank Executive Prosecutions”

  1. Confucius says:

    “painted nail” and “blowhard”?


  2. Yarddog1 says:

    This self-serving, boa wearing jerk shoud be the first in line on the chain gang. Of course he may very well enjoy being in prison and having a large cellmate named Leroy.

    • Enthalpy says:

      No doubt! Such a target rich environment would be too good for him. How about a women’s prison? Irrespective of gender, prison is where Barney belongs along with his cohorts in crime.

  3. reefdiver says:

    Can we have prosecutions of congressional wrongdoing?
    They seem to be immune.

  4. mikepatr says:

    This is one time I agree with Barney. We should start with those that promoted Subprime mortgages for the poor and also promoted loans to people because of the color of their skin regardless of their creditworthiness, and blocked the Bush administration’s proposed regulation of Fannie Mae and Freddie Mac, stating that there was no financial crisis there.

    • curvyred says:

      I heard about this story from Jim Quinn on my way to work.

      I just cannot get over the chutzpa of these “politicians”.

      First TTTIMMY says he is going to ramp up tax-evasion investigations and now Fwank is going after “those responsible”

      I really do believe liberalism is a mental disorder, I truly do – these people make not one ounce of sense!!

  5. bousquem says:

    I find the title of “Financial Reform Push Reignited By Rep. Frank” to be a very bad joke. Frank killed attempts to actually do reform and helped put the crisis in fast forward. If he were actually honest, he and the rest of his cronies would be the first in line to say they were at fault and go to jail.

  6. pdsand says:

    I read just a little bit the other day about the history of Communist China, the Great Leap Forward, the Cultural Revolution, etc., and looking at the news lately I just can’t help but think that’s exactly where we’re going. Of course at that time they had the failures of Soviet Russia staring them in the face but they still went down the same path. These communists know the history well, but they’re still going to do all the same things.

  7. heykev says:

    I may have to rethink all I know about politics. I thought that we here in Illinois were best at corruption. However, Mass seems to be doing a better job. They have both a Senator who should have been tired and convicted of murder. And Rep Frank is guilty of so many things, it’s hard to list them all. But what makes me think that Mass is better at corruption is that both Kennedy and Frank are “esteemed; august” members of Congress.

  8. Barbie says:

    When are these blatant liars like Frank going to be held accountable? (p.s. love the comment about painted nails – he probably has painted toenails too).

  9. Reality Bytes says:

    For the first time I agree with Frank. Let’s start with this as exhibit A…


  10. Right of the People says:

    Barney Fwank and Chrissie Dodd need to step up and turn themselves in to set a good example for the rest of the Democraps. Yarddog, I imagine you’re right, Rep. Fwank would just love a roomie named Bubba to play with.


  11. polemos says:

    Frank is a first rate tool. I hope the GOP runs nobody against this guy just so he can stay in congress to laugh at. How in the world can mainstream Dems support this guy?

  12. curvyred says:

    If Bwany is going to have people prosecuted – how about the people who knew full well they did not have the income to support a McMansion on a McD’s salary?

    Aren’t they guilty of outright fraud?

    Opps, sorry what was I thinking? They are the victims! **extreme sarcasm**

  13. Rusty Shackleford says:

    Kill the wabbit…..kill the waaaabbit. You waskewwy wabbit….say your pwayers!

  14. MinnesotaRush says:

    Well maybe .. just maybe we could help the banking queen. There’s a pretty trackable timeline of mishaps and illegal activity spelled out nicely at this site:


    …. heck, it even gives names. Betcha this never is mentioned in their “hearings”. Too incriminating and accurate. Good place to start.

  15. Media_man says:

    I liked Taranto’s quip on Frank’s statement over on WSJ’s Best of Web:

    “In other news, O.J. Simpson has gone undercover in a Nevada prison in search of the real killer.”

  16. proreason says:

    How long can this pervert preen in public and proclaim his deviant revenge as justice?

    Why have we let such vermin enter the public square?

  17. VMAN says:

    Once again the left has been allowed to shape the dialogue. Terms like predatory lenders and unscrupulous lenders are absurd. Are they predatory because they gave someone a loan who didn’t deserve on or because they were forced to. Giving someone a loan that you know can’t pay it back may be stupid but it’s not predatory. If they were charging 30% interest on a home loan then that could be considered predatory. Heck only credit card companies do that and nobody even cares.

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