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Wednesday, August 18, 2010

The Worm Turns

The latest conversion on the eve of the election: Barney Frank, the Democrat Congressman who has done more to push low cost and question free mortgages for the poor than anyone else in the country, suddenly now thinks that it is a bad idea.
In an interview on Fox Business Frank denounced givernment policy that promoted homeownership at any cost. According to Frank, the government should not guarantee mortgages.

"There were people in this society who for economic and, frankly, social reasons can't and shouldn't be homeowners," Frank said. "I think we should, particularly, stop this assumption that you put everybody into homeownership...Public policy has been too much to try to push people into homeownership."

One of two things is true: either 1) Frank has come to his senses and now realizes that the Progressives' push to get the poor into homes at the cost of others will not work; or 2) this is more of the usual pre-election BS from Frank which he will completely ignore once re-elected. I vote for the second alternative. Hopefully, Frank will be voted out of office. While the likelihood of such a result is slim at best, it would still be a wonderful thing for the country to get him out of Congress.

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