barney frank should be arrested on treason

[dmagicglock]

okay so this story is just making its way to the main stream, but here's a link to an article from July 1st.

http://www.washingtonexaminer.com/opinion/blogs/beltway-confidential/Barney-Frank--49649362.html

Basically, barney introduced legislation the other day to take interest already earned from the Tarp funds and instead of repaying it to the taxpayers as ORIGINALLY described in the stimulus plan, he now wants to use those profits to fund special interests. Here's a snipet of the article.

"Frank, however, wants to spend the money before it can be used to pay down anything. First, the "TARP for Main Street" proposal would take $1 billion "from dividends paid by financial institutions that have received financial assistance provided under…the Emergency Economic Stabilization Act" and apply it to a trust fund that Frank has long wanted to create for low-income rental housing. (The measure, unfunded, was part of last year's bailout of Fannie Mae and Freddie Mac.) Next, Frank would take $1.5 billion from TARP dividends for a so-called "neighborhood stabilization" fund. Republican critics have charged that both measures might allow federal dollars to be distributed to activist groups like the Association of Community Organizers for Reform Now, or ACORN.

The "TARP for Main Street" bill would also spend $2 billion, apparently from remaining TARP funds, to subsidize people who are delinquent on their mortgages, and another $2 billion to "stabilize multifamily properties that are in default or foreclosure."

This has really got me worked up... I'm so sick of barney frank, I pray that he doesn't get re-elected, and I hope this legislation never passes. Let's be honest, we're never getting that Tarp money back, and these socialists will continue to do everything they can to redistribute wealth. I think I just threw up in my mouth, blah

[Disclaimer]

I need some additional information as the article listed is very biased, so find an equivalent argument from the other side.

Though, I don't think it bodes well for fiscal responsibility to spend more, unless spending more now will save us from spending MUCH more later.

[dmagicglock]

I need some additional information as the article listed is very biased, so find an equivalent argument from the other side.

Though, I don't think it bodes well for fiscal responsibility to spend more, unless spending more now will save us from spending MUCH more later.

J you're killin me man, where in this article is it bias? everything in this article is objective, i'll see what I can do to find another link to a story on this, I dunno if CNN or MSNBC report on stuff like this?

[dmagicglock]

http://www.thedeal.com/dealscape/2009/07/franks_tarp_for_main_street.php

interview with barney on CNN on June 12th

http://money.cnn.com/video/news/2009/06/12/news.barney.franktarp.cnnmoney/

He mentions some of the dividends are used for "repayment" or "other purposes"

The actual legislation itself from the library of congress

http://thomas.loc.gov/cgi-bin/query/z?c111:H.R.+3068:

Mark Calabria's testimony before house committee about repayment of Tarp funds and the ridiculous cost to the tax payers

http://www.cato.org/testimony/ct-mac-20090709-1.html

[Disclaimer]

The 3rd link is probably the best... I'll have to read the bill to see what it actually says.

The CNN link is a close #2 for credibility.

[chevysoldier]

Let get rid of all debt, all over the world. Start fresh. And make obama king of the world................................

[dmagicglock]

Let get rid of all debt, all over the world. Start fresh. And make obama king of the world................................

I thought we already did that? at least the king part

check out this king of the world greeting in ghana!

http://uk.reuters.com/news/video?videoChannel=75&videoId=107767

[InyaAzz]

lulz