Barney Frank is a fat ass liar and Bill O'Reilly is an idiot

Barney Frank is a fat ass liar and Bill O’Reilly is an idiot

So, the other day I finally watched this battle between Bill O’Reilly and Barney Frank on the Fannie Mae and Freddie Mac mess. I posted the video at the end of this article. Anyways, these two idiots are screaming at each other and neither one of them knows what the hell they’re talking about. But, I did catch that fat SOB Frank in a massive lie. He says during the interview that in 1994 they tried to stop the subprime lending and in 2007, when it was too late, they tried to get regulation on both of these government dirtbag home mortgage lenders. Well the facts are in two articles:

First, in a 1999 NY Times article stating:

Fannie Mae, the nation’s biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.

The action, which will begin as a pilot program involving 24 banks in 15 markets — including the New York metropolitan region — will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring.

Second, a 2003 NY Times article President Bush wanted regulation on both of these mortgage lenders:

The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.

Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.

The plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac — which together have issued more than $1.5 trillion in outstanding debt — is broken. A report by outside investigators in July concluded that Freddie Mac manipulated its accounting to mislead investors, and critics have said Fannie Mae does not adequately hedge against rising interest rates.

And then in the same article Barney Frank says:

”These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis,” said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ”The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.”

Now, it’s to bad that numbskull O’Reilly didn’t have any of this information to grill Frank with, but of course Frank is such a lying fat ass slob that he would still be screaming and spitting that he didn’t say any of that.

Watch this video: