Thug is the kindest word I could think of to describe the despicable Barney Frank. He personifies everything wrong with this republic. He’s evil. The man who caused the mortgage crisis is threatening banks to keep them from legally foreclosing on mortgages. Contract!?! We don’t care about no stinking contract!
Rep. Barney Frank (D-MA), Chairman of the House Financial Services Committee today threatened banks that they’d better stop foreclosures, or else. Or else what? Or else Congress will pass cramdown legislation — that’s what! That would allow bankruptcy judges to rewrite mortgage contracts to whatever struggling homeowners could afford. I wouldn’t count on any follow through to that threat.
Frank said:
“People in the servicing industry and in the broader financial industry must understand that if this last effort to produce significant modifications fails, the argument for reviving the bankruptcy option will be extremely strong, and I think there is a substantial chance that the outcome will be different.”
But you have the give the man credit, he sure is persistent. And consistent. Consistently wrong.
In the lingo that Barney would understand; he’s about to bend the banks over and really give it to them.Cover your back its coming.
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Saw Sean Hannity this weekend – he was great!! Support the soldiers. But…. the mortgage fraud upon the US is the biggest cover-up. Unfortunately, every one goes down when the US is foreclosing America. That is the way it is. No recovery without rectifying the fraud upon America. Sorry.
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