Rep. Barney Frank: Wall Street Journal Editorial Board Does It Again

Rep. Barney Frank: Wall Street Journal Editorial Board Does It Again: "For example, on February 18, 2002, at a hearing on the budget I said 'I am in favor of trying to help lower-income people get the advantages of homeownership...but almost by definition, the large majority of poor people are going to need rental housing.' On March 6, 2004, the National Journal reported that 'When the FHA's plan to insure subprime loans was included in a Senate-passed appropriations bill, Frank...a staunch supporter of low-income housing, wrote a highly critical letter urging that the measure not be included ... Not only had the House committee not examined ...the proposal he said then, but the measure also offered no protection against lenders inappropriately steering people towards these high-cost loans. Nor did it offer safeguards to ensure that participants 'were fully suitable for homeownership.''"

Here is the Wall Street Journal assisting the Fox "News" project to dumb down America on the mortgage crises. It is always best when you screw up royally to blame someone else. Anyone.