Term Limits

TERM LIMITS

Barney Frank is the poster child for term limits in Congress.

2000: Frank called the concerns about Fannie and Freddie “overblown” claiming there was no federal liability whatsoever.

2002: Frank said “I do not regard Fannie Mae and Freddie Mac as problems.  I regard them as assets.”

2003: Frank opposed reforms saying he did not “regard Fannie and Freddie as problems.”

2004: With Fannie’s accounting scandal, Frank again insisted they were not in any crisis.  “Even if the two went belly-up, he said, I think Wall Street will get over it.”

2008: Frank said the losses and foreclosures was the fault of Wall Street.  “The private sector got us into this mess….the government has to get us out of it.”

2010:  Frank now supports abolishing Fannie and Freddie – a little late on seeing the problem.

Fresh eyes on a problem can usually see something that someone close to the problem overlook.  Barney Frank obviously overlooked the problem year after year.  If you feel this is an important issue please forward this email along with your own comments to your respective Representative/Senator and ask them for their opinion. 

ABOLISH  

I am also  in favor of abolishing Fannie Mae and Freddie Mac; along with the retirement of old worn-out politicians.