What is Barney Frank up to now?
Beware the grubby paws (hat tip – Will Amos):
House Financial Services Committee Chairman Barney Frank has a plan to funnel income from the government’s $700 billion bailout fund toward the housing sector.
The powerful Massachusetts Democrat last week quietly introduced legislation that aims to use $1 billion in dividends paid by the recipients of government aid to provide rental housing opportunities for low-income and homeless families. The money would go into a national housing trust fund established last summer in connection with legislation that allowed for Fannie Mae (FNM) and Freddie Mac (FRE) to be placed under government conservatorship.
The fund currently is empty, however President Barack Obama’s fiscal year 2010 budget calls for it to receive $ 1 billion – a sum the Frank legislation would provide.
“This would be the seed money to get the trust fund up and running,” said Danna Fischer, legislative director for the National Low Income Housing Coalition.
Fischer said the trust aims to garner $150 billion in total funding over the next decade.
Frank said it is feasible to use income from the Troubled Asset Relief Fund, known as TARP, to finance the trust for at least “a couple of years.”
Frank’s legislation also proposes funneling $1.5 billion in TARP dividend payments to state and local government efforts to redevelop abandoned and foreclosed properties.
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Trackbacks
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I’ve got no issues with providing housing opportunities to homeless people – I just don’t trust Barney Frank. If Frank’s involved you can bet that 90% of the money won’t even make it to the charity, and the other 10% will be squandered.
He’s as close to excrement as any human being can be. There’s not a dictator or despot you can name that I wouldn’t put in the same league.
Coming off his successful destruction of the investment banking industry, Frank now seeks to kill the rest of the economy with forced , subsidized, home ownership by deadbeats and under qualified owners. The Detroitization of the Nation.
Barney Rubbel strikes again.
This comes at no surprise. Whatever extra comes back from aid recipients will be
spentwasted.Sigh! The more things change… .
When will Democrats ever got off this vicious cycle of failure they have set the government on – when we are all broke -/ or homeless?
Jail is where this slobbering idiot belongs. He’d like it.
bradley said:
He sure would but, the Prison would run out of soap
What charity?
Also, providing rental housing opportunities can be twisted in a number of ways once he’s done.
Can we please make him unpowerful and vote him out?
At some point there will no reason to even own a home. I know of an individual with a credit rating in excess of 820 who was refused a bank loan. CrAp and Trade will make home sellers upgrade to new energy specs while waiting for gov employees to give approval to even sell the home. What happens when the upgrades exceed the profit made on the house? If an elderly relative dies leaving a house needing these upgrades, will the relatives bother to sell the house or just give it to the town? Congress, Frank and ACORN will totally destroy the housing industry and the American dream. We will all be in public housing as a result.
You’ve answered your own question. We won’t be homeless, however. Government will own the homes and the Local Living Space Commisar will determine just how much space you will be allowed.
I spoke with my realtor who is trying to sell a property for me…he says a lot of those remods down under the stimulus plans are now in default yet again…so I can’t sell my property for even what I owe on it..I’d have to bring $8-10K to the table just to get rid of it so not only does that wipe out any equity, it means I’d loose another $8K to boot…thanks barney, thanks fannie and freddie…gotta keep those who shouldn’t be in homes or frankly in our country in homes they can’t afford…
And that is just the desired outcome of Dear Leader and his cohorts. Government ownership on behalf of the people in which we will be allowed to live in hovels of “sufficient living space”, as determined by his Sustainable Living Space Czar.
sigh…
here in the shiny city of new york the “homeless” get to be housed in “hotels” at about $3000 a month cost to the taxpayer. This is supposed to be temporary, HOWEVER since lots of these are in Manhattan they simply REFUSE a permanent placement in an apartment because they don’t want to move out of manhattan. there are no consequences for refusal.
No, we can’t, unless you happen to live in his district.
Gallop announced a huge jump in Americans who feel the Democrat party has become “too” liberal. They noted a jump like that hasn’t been seen since the Republicans took back the House during Clinton’s presidency.
Obama, Pelosi, Bwanie Fwankie, Reid, and lest we forget the new clown in town ‘ol whats his name…Al Frankie – please keep it up.
frank needs to lose in the next election so he can go out and earn a real living, standing on street corners might be what he aspires to do.
Spoken like a true Democrat. Why spend the money once, when you can spend it on the same thing twice?
Oh Boy… is Barney and that BF he had on one of those company’s board.. rekindeling that flame?? Barney trying to get a lil’ sumpin’ sumpin’ for his pandering??
Maybe Barney the pervert found out he can get a 5 year old boy from one of his old friends
Can we find another picture of him? That picture just makes me want to hide every little boy I know. Shades of micheal Jacksons Jesus Juice….
But seriously, nobody should be suprised at his corruption.
You can bet it will get to the point that a government agency will decide who you will be allowed to sell your home to. You can bet you won’t be able to sell to the highest bidder – they will put in a requirement that the sale must make the neighborhood “multi-cultural”
that this cretin could be in charge of an important committee and be responsible for so much money is truly unbelievable. this idiot couldn’t make change at a grocery store. further proof as too how low democrats have fallen, even though low is where frank does his best work.
Shame on Massachusetts for repeatedly voting in this fat, disgusting turd.
I’m not sure, but I’ll bet it involves vaseline.
I think that’s what the Community Organizer in Chief has in mind.
Off topic a bit but I find it too funny:
ROFL but officer, we don’t have a pole…
Housing is good.
Putting Barney Frank in charge of it? Bad.
Also, a component of such programs I never see a part that talks about basic home care and maintenance. My husband’s niece (technically mine too, but since she’s 11 months younger than me, I don’t really call her that) and her husband looked at houses and bought one recently. Many of the ones they looked at were foreclosures, and lots of them had substantial damage (holes in walls, filthy, etc.).
I would like to see people held accountable for the cleanliness and condition of their housing if we’re going to subsidize it.
“Tank you, Boyce.
‘En now, our own liddle Bawney Fwank will sing dat wunnerful classic, ‘Dis Ole House.”
Uh wun, anna two, anna…..”
tells you a whole lot about the Massachusetts voters does it not.
If my elder brother didn’t move into Mom’s house, under this scenario, it would tragically burn down. I think. Not planning anything, but the government wouldn’t get a dime of value out of it.
ECS
Remember the violence and tension surrounding the forced busing of the early 70s? Here’s a little preview of the tensions of Forced Housing
http://www.chicagotribune.com/news/local/chi-cha-class-clash-30-jun30,0,5368357.story
Wash
rinse
repeat
Get this fruitcake away from anything having to do with ANYTHING.
He is just going to do the same sh!t again and again even though it fails every time.
The government owns the banks, the government owns your mortgage. The government then regulates when and how (or even if) you can sell your home. Eminent Domain is always an option but it is so passe and reminiscent of the bourgeoisie and a capitalist society. In today’s openly communist (Well beyond socialist soon?) society, we have new and improved ways to redistribute your wealth.
Placeholders not needed.
Another example of government fraud and waste…..where is the accountability? Why can’t we demand accountability of how Freddie Mac and Fannie Mae do business. This will turn into another money black hole (like the missing Katrina aid $5 billion, yes billion, that no one seems to know where it went.) Where are the Republicans on this issue. I am sick of them all!
If his toothless gummy mouth is moving, he’s up to no good.
With the new regulations of having to complete green updates to any dwelling before selling it, can you just imagine what that’s going to do to resales of mountain and beach cabins? My guess is that they’ll eventually bulldoze them and then make the land govn’t owned, slowly eliminating second homes and getaways.
It was lolcat impression day on the House floor.
Why do people re-elect this idiot…WHY?
Does this slob slug slime have teeth? Every picture of him looks like he doesn’t.
L
Birds of a feather…..
Re: Barney Frank going up the river and liking it.
-There are some things that even a horny convict wouldn’t do.
FUNNY HOW SOME OF THESE STATES THAT VOTED OBAMA (CALIFORNIA, PENNSYLVANIA, INDIANA, CONNECTICUT) ARE PRESSING TO GET A STATE BUDGET PASSED.
SURE, SOME STATES THAT WENT REPUBLICAN HAVE THEIR OWN BUDGET DIFFICULTIES BUT WHEN YOU CONSIDER THE ALL OUT ATTACK OBAMA IS MAKING ON WORKERS IN “HIS STATES” IT’S ALMOST FUNNY… IF IT WEREN’T SO SAD.
So now TARP is a never ending funding source for different “government projects” for………….EVER??????
You pay back and then it gets recycled into something else congress wants.
So much for getting our TARP money back with “perhaps a little profit.”
Actually, Barney should ask the Chinese as they hold the note…… Imbecile.
Didn’t they already do that?
etienne said…
Indiana barely voted Obama ,,, sad to say as a Hoosier in that state, first time this state went Dem since 1968… The governor is Republican and the Democrats in the state (which hold the majority) were holding up the budget…. They wanted the state to spend it’s emergency surplus on new spending programs… and the Republicans balked at that…. BTW it did pass late last night AND without the new spending programs THANK GOD! Glad to report that our state has NO tax increases and have CUT SPENDING … given our state has taken a beating with the auto industry and we have a balanced budget with a 1 billion emergency for a prolonged recession…. I think the federal government could look and take lessons, instead of trying to model after California (like in cap and tax)
Let’s see, how much will ACORN get from this fund to help “assist” in the housing situation?
If there were NO Barney ‘gayprostitutionringinmybasement’ Frank, NO ACORN, and just one honest person in Fannie and Freddie, Fan & Fred wouldn’t have lost 4+ TRILLION dollars and we would not have a recession right now.
FOUR (4) Trillion dollars… just GONE. and no one goes to jail for it?
Thx to Franklin Raines, barney ‘gayprostitutionringinmybasement’ Frank, Chris Dodd and many other Dems.
Now they want to do it again, but under the guise of townhomes and apartments????
Oh of course ACORN is the reason for this…. I saw on Fox last night they are protesting banks that have received TARP that won’t give into their demands for low income housing… there were ONLY 4 that refused, but yet those nuts (no pun intended) are relentless to get every penny they can.
Dammit – I KNEW I shouldn’t have taken the lowest bid on that electrical work I just had done … Oops!
I paid less for my house 40 years ago than I paid for my last car. If insurance wouldn’t cover the loss I’d gladly walk away from it and tell the “guvmint” to kiss my ass.
a work in progress along with destroying just about everything else that’s made this a great nation.
***
Bahwney Fwank and his ilk did such a fine job destroying Freddie Mac and Fannie Mae and the Mortgage Industry / Bank Lenders that we need him to continue the good work.
***
It’s like throwing buckets of gasoline on a house fire to help put it out!
***
I trust him to destroy our economy. I don’t trust him in the shower!
***
John Bibb
***
Sorry to repeat myself, but the beyond-felonious criminality of what the Franks, et al, have committed makes me wish Flight 93 had been allowed to complete its mission.
But only if Congress had been in full session at the time, of course.
Reparation and redistribution. We knew it was coming.
I did not vote for this turd. I voted early and often, but I am only one man. I apologize for my impotent vote.
Expert texpert choking smokers,
Don’t you think the joker laughs at you? (ho ho ho, he he he, ha ha ha)
See how they smile like pigs in a sty, see how they snide.
I’m crying.
In other words, government is back in the business of building slums.
An Acorn mortgage means that an individual tells the bank that the wish is to purchase a house which cost X dollars and it’s up to the bank to figure out a payment plan that the individual can afford. If that monthly payment is 2 cents/mo then that’s what the bank needs to offer.
And POW! goes Rogue’s Lennon quote.
Hey wait a minute! I want my damn money paid back to me Barney Frank!! What right do you think you have to use my money to fund your pet projects?
Oh wait, never mind……….
They WANT (and are doing) bringing America to its knees. Obama is getting off on this!
Alinsky taught him well, and when we are just like his “Homeland” KENYA… Then he will have succeeded. Cant anyone see this? And now with a Filibuster Proof Senate, There is NO STOPPING HIM!
Sounds like a plan to warehouse the homeless and various Democrat voting blocs into nice middle/upper middleclass neighborhoods, into empty foreclosed homes, thus establishing taxpayer-funded squatters rights.
But wait, the houses that will be bought and sold will need to be inspected by a Federal agent to make sure it is energy star compliant. It makes tremendous sense to impose these types of regulations on housing when we obviously have an affordability crisis and a sinking economy. Not.
California Red
Brings a whole new meaning to hopefully pay off your home, then leave it to your children. It couldn’t change title (I’m guessing) until the repairs are made. How about the rumor they’ll also be able to look into condo, patio home, and townhouse HOA contracts – plus, inspect the common areas for ways of making them more green. Well, where I live p/t is a patio home with acres of green grass, little rolling hills, and we pay for our own roads and such.
We are in for a huge lifestyle change, and the privilege of paying more for it.
Someone either punched them out or.. OK, I won’t go there…
Did Barney’s mother know what he would become when she gave him those initials?
I think “We the People” should propose a new bill. Congress can only collect Social Security. There will be no congressional pension for serving one or ten terms, there will be no congressional health plan. If retired congressmen want a healt plan after retirement, they have to purchase it just like the rest of us. And last but not least, no retired congressman can ever represent a lobby domestic or foreign.