Sunday, October 05, 2008

Mark Steyn; How Barney Frank's gay lover caused the Fannie Mae collapse; Herb Moses

Mark Steyn comments on another aspect of the financial crisis for which taxpayers must now suffer:

Last week in this space, I made a jocular reference to a global economy "so
vulnerable that only the stalwart action of Barney Frank stands between it and
ten years of soup kitchens". I tittered too soon. It turns out the
entire planetary meltdown is due to Congressman Frank's sex life:

. . . . . . . .
Moses "helped develop many of Fannie Mae’s affordable housing and home
improvement lending programs."
Critics say such programs led to the mortgage
meltdown that prompted last month’s government takeover of Fannie Mae and its
financial cousin, Freddie Mac. The giant firms are blamed for spreading bad
mortgages throughout the private financial sector...
. . . . . . . . .

while the old Moses parted the red sea, the new Moses drowned us in one.

See also this.

So it appears that taxpayers will now pay $700,000,000,000 for Barney Frank's failed gay relationship. The Moses/Frank partnership will turn out to be the most expensive gay marriage in history.

- In the 1970's (and before), gay bathhouses were responsible for the spread of aids throughout the western world (although the left undoubtedly blames George W. Bush (and, by extension, John McCain (and Sarah Palin's downs syndrome baby))).

- In the 1990's, Fannie Mae became a financial gay bathhouse, spreading the financial equivalent of aids throughout the economy of the western world.

Fannie Mae

[See the analysis of how even this was made possible only by the Federal Reserve policy of credit expansion during the credit boom of the 1990's.]

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