U.S. Rep. Barney Frank claims some conservatives are trying to thwart new Wall Street regulation by blaming poor blacks for today’s crisis.And from the other side of things:
“This is an effort, I believe, to appeal to a kind of anger in people,” Frank, a Newton Democrat who chairs the House Financial Services Committee, told a Boston anti-foreclosure forum yesterday.
Frank charged that some Republicans attribute the mortgage mess to minority-lending laws like the Community Reinvestment Act - and, by extension, to poor blacks.
“The bizarre notion that the CRA . . . somehow is the cause of the whole problem, (some conservatives) don’t mind that,” the lawmaker said. “In the wake of the affordable-housing goals of Fannie Mae and Freddie Mac (and) the CRA, they get to take shots at poor people. And let’s be honest, the fact that some poor people are black doesn’t hurt, either, from their standpoint.”
I guess the Herald does not regard Frank's idiotic claims as decoys being thrown up so the Dems can disavow any knowledge or blame for the housing market and financial market crisis. Or maybe they're just leaving the commentary to the people in the story. (But how journalistic! Keep that up!) That takes real character. The kind of character that becomes a pedophile priest, a crooked cop on the make against poor grandmothers, a mayor who charges his personal affairs to the office. In other words, Frank is an ass whose time has passed, but the good voters of Newton and parts thereof will likely never vote him out.
[Lobbyist Grover] Norquist denied in a phone interview that he or others are targetting blacks, saying he personally pins the crisis on “two fat white guys” - Frank and Sen. Chris Dodd (D-Conn.)
The lobbyist charged that Frank and Dodd heavily supported the CRA, which Norquist said “coerced banks to make loans they didn’t want to make. Low-income African-Americans are the victims of what these chubby white guys (Frank and Dodd) did for them.”
It is a shame that liars and blamers are the current champions in our democracy. I guess party rule is going to have to be replaced by mob rule? Thank goodness there are no poor gay people or Frank would be all over that, too. Goodness forbid, are there any Democrat gay black handicapped poor people?!! Then he'll really distract us from the actual point of the story by accusing the GOP of taking shots!
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