Gwen Ifill: I Forgot To Tell the Debate Committee I Was Writing a Book That Would Make $400,000 More if Obama Wins | Main | Overnight Thread
October 02, 2008

Quotes of the Day Crisis: Democrats on Fannie, Freddie, and High-Risk Mortgages

Via Hot Air's headlines, a steaming cup of rich cocoa with little marshmallows of awesome.

Here's one:

Rep. Barney Frank: I do think I do not want the same kind of focus on safety and soundness that we have in OCC [Office of the Comptroller of the Currency] and OTS [Office of Thrift Supervision]. I want to roll the dice a little bit more in this situation towards subsidized housing. . . .

Also very cool: Guess who paid for academic studies "proving" Fannie and Freddie posted "effectively zero" risk?

Do I really need to say? Fannie and Freddie paid for that scholarship themselves.

And I'll tuck this in as an addendum because people will be annoyed if I highlight it: Rep. Shadegg may now support the rescue, given the mark-to-market change and raising of the FDIC maximums.

I know I'm really pushing things to link this guestimate of the odds of serious financial downturn, based on the "wisdom of the markets," as they've expressed themselves thus far.

And phreshone points out a good side of the crisis: European banks are glutted on our bad paper, too, and might also fail.

Okay, I guess that's not really "good" per se, as it increases the chance of a global crisis.

But still-- as far as downsides go, knowing we've screwed Europe more than we've screwed ourselves is sort of as up a downside as you can get.

Thanks, Barney! Roll those dice, chubby man!


digg this
posted by Ace at 01:31 AM

| Access Comments




Recent Comments
dananjcon: "One-handed typing while stoned on painkillers is r ..."

Decaf: ""Trump on McCain: "I'm being very nice. I'm being ..."

Soledad a: "[i]150 I want to be a ninja. [/i] The purpose o ..."

TexasDan[/i]: "We are the first agency to take this action," he s ..."

Lizzy[/i]: ">>But JLaw is now bitching about the conditi ..."

Jane D'oh: "Look at all these poor animals that just want to t ..."

flounder, rebel, vulgarian, deplorable, winner: "[i]253 The new Lego Ninjago movie is pretty cute, ..."

Mike Hammer, etc., etc.: "*adds OM to prayer list* There's nothing sadder ..."

Anon a mouse...: "Chelsea Handler has a pretty nice rack. But, I ..."

Your Betters: "[i]To help him in his adjustment to his true gende ..."

Moron Robbie - Now in the Lost My Doctor AND My Monthly Premiums Doubled Column[/i] [/b]: "Unless its kidney stones, then your screwed. ..."

Lizzy[/i]: ">>....And yet, its Pence they think is terri ..."

Recent Entries
Search


MuNuvians
Polls! Polls! Polls!
Frequently Asked Questions
The (Almost) Complete Paul Anka Integrity Kick
Top Top Tens
Greatest Hitjobs

The Ace of Spades HQ Sex-for-Money Skankathon
A D&D Guide to the Democratic Candidates
Margaret Cho: Just Not Funny
More Margaret Cho Abuse
Margaret Cho: Still Not Funny
Iraqi Prisoner Claims He Was Raped... By Woman
Wonkette Announces "Morning Zoo" Format
John Kerry's "Plan" Causes Surrender of Moqtada al-Sadr's Militia
World Muslim Leaders Apologize for Nick Berg's Beheading
Michael Moore Goes on Lunchtime Manhattan Death-Spree
Milestone: Oliver Willis Posts 400th "Fake News Article" Referencing Britney Spears
Liberal Economists Rue a "New Decade of Greed"
Artificial Insouciance: Maureen Dowd's Word Processor Revolts Against Her Numbing Imbecility
Intelligence Officials Eye Blogs for Tips
They Done Found Us Out, Cletus: Intrepid Internet Detective Figures Out Our Master Plan
Shock: Josh Marshall Almost Mentions Sarin Discovery in Iraq
Leather-Clad Biker Freaks Terrorize Australian Town
When Clinton Was President, Torture Was Cool
What Wonkette Means When She Explains What Tina Brown Means
Wonkette's Stand-Up Act
Wankette HQ Gay-Rumors Du Jour
Here's What's Bugging Me: Goose and Slider
My Own Micah Wright Style Confession of Dishonesty
Outraged "Conservatives" React to the FMA
An On-Line Impression of Dennis Miller Having Sex with a Kodiak Bear
The Story the Rightwing Media Refuses to Report!
Our Lunch with David "Glengarry Glen Ross" Mamet
The House of Love: Paul Krugman
A Michael Moore Mystery (TM)
The Dowd-O-Matic!
Liberal Consistency and Other Myths
Kepler's Laws of Liberal Media Bias
John Kerry-- The Splunge! Candidate
"Divisive" Politics & "Attacks on Patriotism" (very long)
The Donkey ("The Raven" parody)
News/Chat
Archives
Powered by
Movable Type 2.64