BOSTON (AP) – Rep. Barney Frank said Monday that Republican criticism of Democrats over the nation’s housing crisis is a veiled attack on the poor that’s racially motivated.
The Massachusetts Democrat, chairman of the House Financial Services Committee, said the GOP is appealing to its base by blaming the country’s mortgage foreclosure problem on efforts to expand affordable housing through the Community Reinvestment Act.
I’m sure Barney is hoping this will distract from his own inaction as chariman on the House Financial Services Committee, as well as the conflict of interest he had at Fannie Mae. Hell, even Alec Baldwin knows the score. And me agreeing with anything that came out of Alec’s mouth is a minor miracle (of course, things descend back into his predictable mantra and mockings about halfway through the clip, and Christiane Amanpour is in over her head as usual).
Read The Roots of the Crisis (Michael Flynn). Read it all. Michael doesn’t mention the roots these risky loans coming from the stick of the CRA, but it is mentioned in several of the many links he’s made to back up his arguments.