{"id":7208,"date":"2008-10-07T13:07:00","date_gmt":"2008-10-07T13:07:00","guid":{"rendered":"http:\/\/68.169.38.31\/?p=7208"},"modified":"2008-10-07T13:07:00","modified_gmt":"2008-10-07T13:07:00","slug":"barney-frank-liar","status":"publish","type":"post","link":"https:\/\/gormogons.com\/index.php\/2008\/10\/barney-frank-liar\/","title":{"rendered":"Barney Frank, Liar"},"content":{"rendered":"

\"\"Rep. Barney Frank (D-MA) claims that Republican attacks on the Community Reinvestment Act are racially motivated<\/a>. Rep. Frank is wrong on the merits as usual.<\/p>\n

Rep. Frank must be Karnak the Magnificent<\/a>. He has the uncanny ability to know what is in the mind of his opponents. And, surprisingly, a liberal Democrat looks into the heart of conservative Republicans and finds the only reason for the Republicans’ opposition to government mandated wealth redistribution program is racism.<\/p>\n

The editors at National Review thoroughly deconstruct Rep. Frank’s blatant misrepresentation here<\/a>:<\/p>\n

Much more problematic than Gramm-Leach-Bliley is the Community Reinvestment Act, a bit of legislative arm-twisting much beloved by Sen. Obama and his fellow Democrats. One of the reasons so many bad mortgage loans were made in the first
place is that Barack Obama\u2019s celebrated community organizers make their careers out of forcing banks to do so. ACORN, for which Obama worked, is one of many left-wing organizations that spent decades pressuring banks and bank regulators to do more to make mortgages available to people without much in the way of income, assets, or credit. These campaigns often were couched in racially inflammatory terms. The result was the Community Reinvestment Act. The CRA empowers the FDIC and other banking regulators to punish those banks which do
not lend to the poor and minorities at the level that Obama\u2019s fellow community organizers would like. Among other things, mergers and acquisitions can be blocked if CRA inquisitors are not satisfied that their demands \u2014 which are political demands \u2014 have been met. There is a name for loans made to people who do not have the credit, assets, income, or down payment to qualify for a normal mortgage: subprime.<\/p><\/blockquote>\n

Remember, conservatives, whenever a liberal calls you “racist” or compares you to Hitler, you’re probably on the correct track. <\/p>\n

How about a little good faith, Rep. Frank?<\/p>\n","protected":false},"excerpt":{"rendered":"

Rep. Barney Frank (D-MA) claims that Republican attacks on the Community Reinvestment Act are racially motivated. Rep. Frank is wrong on the merits as usual. Rep. Frank must be Karnak the Magnificent. 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Barney Frank (D-MA) claims that Republican attacks on the Community Reinvestment Act are racially motivated. Rep. Frank is wrong on the merits as usual. Rep. Frank must be Karnak the Magnificent. 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