I can assure you B Frank is a socialist and he knows the GSE housing industry gives the Congress much leverage
If ther is one person to point your finger at and say he is responsible of the housing collapse, it is B Frank.
This video proves how wrong this idiot was. He said then that the concerns of people worried about housing prices were unsubstantiated. Wrong. Thus the fiasco that eventually happened corroborated the arguments of the people BF was arguing with.
He's talking rot.The housing market, like any investment market based on the same asset being repeatedly resold multiple times for a profit, is a bubble by nature. The danger is only in the instability of the speed at which in inflates, and the level to which it inflates, in comparison to the rest of the economy.
Hmm, I wonder if he still buys into that line of garbage he just spewed, or if he is ready to take his share of responsibility for the financial disaster he helped to bring about? There is no way I'm holding my breath waiting for that to happen.
Good catch. It's frightening to wonder if he truly believes what he's saying or just executing traditional liberal strategy. All the same in the end, I guess.