The Roanoke Slant

Roanoke Times, 8/2/09, Pg 11: Foreclosures: Lawmaker tells banks to help homeowners.
Democrat Rep. Barney Frank, chairman of the House Financial Services Comm. said that rising foreclosure rates will increase Congress’ appetite for legislation that would let bankruptcy judges write down a person’s monthly mortgage payment.
-
Congress was the primary cause and instigator and enabler of the banking collapse and Barney Frank was at the epicenter of that disaster driving congressional demands and laws forcing Fannie-May and Freddy-Mac to loan billions of dollars in mortgages to people who couldn’t afford them.
-
These “toxic assets” are still “on the books” with no resolution in sight and now Barney is determined to magnify the destruction of the banks by mandating that people should just “pay what they can” on these properties they couldn’t afford to buy in the first place!
Karl Heinrich Marx couldn’t have said it better!
-
To alleviate any doubt about the veracity of this situation, visit the timeline and highlights of congressional hearings going back to 2001: click-on:
-
http://www.youtube.com/watch?v=cMnSp4qEXNM&NR=1
-
For a view of JFK’s view of the fruits of Karl Marx’s socialist philosophy as expressed at the Berlin Wall: click-on:
-
http://www.roanokeslant.org/JFKBerlinWall
-
And this would be a good time to reflect on JFK’s inaugural address Jan 1961:
“And so my fellow Americans: ask not what your country can do for you
ask what you can do for your country.”
-
We don’t have JFK, we now have Obama, what a sad substitution for America!
-
Prior Items:
-
http://roanokeslant.blogspot.com/2009/07/economic-reality.html
-
http://roanokeslant.blogspot.com/2009/06/economic-reflections-revisionism.html
-
http://roanokeslant.blogspot.com/2008/09/financial-domino-effect.html
-
http://roanokeslant.blogspot.com/2007/11/democrats-at-wheel-in-subprime-crash.html
-