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- - - House Financial Services Committee Chairman Barney Frank (D-Mass.) said in an interview Thursday that he advised Waters last fall to "stay out of it" because he knew her husband had served on the bank board. Frank said Waters was concerned about the plight of minority-owned banks, as was he. "She acknowledged that 'Sidney had been on the board. I could have a conflict here,' " Frank said. "I said, 'Fine, just stay out of it, I'll deal with it.' " Noting that OneUnited is based in Boston, he said, "I wasn't, as chairman of the banking committee, not going to do all I could to keep the only black-owned bank in my area alive." Frank said he was unaware of any contacts Waters may have had with Treasury. - - - These two malignant tumors on the pancreas of democracy deserve a special place in the museum of ruined civilizations for what government has done to our banking industry over the last several years, to bring it to its knees in the service of their perverted concepts of economic justice. Let us not forget this crisis started with the subprime mortgage industry, which was created by the Community Reinvestment Act, and reinforced by the thuggery of ACORN. The Titanic started taking on water in 2005, when these two bozos were staunchly defending UNREGULATED Freddie Mac (with one of whose executives Barney was, literally, in bed) and Fannie Mae, where Waters' hero Franklin Raines was practicing very risky lending rules in the name of "affordable housing" that, combined with the cottage industry of high-risk instruments, are the real cause of this disastrous situation. They heaped scorn on Bush's regulators for even suggesting there was a problem. Now they are the foxes watching the henhouse during the carnage. And this is what you get. - Bob _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[email protected] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
