And Now, From the People Who Brought Us the Mortgage Crisis...
Barney Frank is up to his old self-dealing tricks again. He's the politician who, more than any other (and there were many many others), pushed Freddie Mac to subsidize more sub-prime mortgages. He did this for one or both of these reasons: (1) he was genuinely concerned about providing better, more affordable housing for people who otherwise couldn't afford it, or (2) he wanted the votes of these people. You be the judge of motive, but the results were economically ruinous.
Well, he's at it again now. JUST after General Motors declared bankruptcy and gave a majority of its equity to the US Government, Barney Frank called GM's CEO personally to dissuade him from closing a distribution center they had been planning to close, in Mr. Frank's home state of Massachusetts. Apparently, his effort was successful, and CEO Fritz Henderson changed the plan after talking with Mr. Frank.
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