One of the causes of the terrible crisis we had over the last few years, which has given us today's problem, it came from people being pushed into buying houses -- taking homes that they couldn't afford.
As Rush points out, who did that? Why, it was Barney Frank himself, with his steadfast backing of Freddie Mac and Fannie Mae.
But Franks says:
It was a conservative view that rental housing was a bad thing. I have been trying to continue programs to build descent rental housing. What we had were in people in power who didn't like that, and they said no, no, we'll help them become homeowners.Frank was the one in power who was pushing homeownership, not rentals. If you don't believe it, see my blog for September 26, 2008.
And now, in a separate story, students at American University don't want Franks to speak at their school.
About 130 American University students are asking school administrators to withdraw Barney Frank’s invitation to deliver a commencement address to AU’s School of Public Affairs in a few weeks. The students blame the fiery House Financial Services Committee chairman for the financial meltdown, singling out his longtime support of Freddie Mac and Fannie Mae as contributing to the severity of the crisis and magnitude of bailouts.
Who elected this guy, anyway? Ah, that's right. The people of Massachusetts.