56 seconds of Barney Frank smacking CNBC talking heads around on the CRA

[underpants]

Run time: 00:56 https://www.youtube.com/watch?v=gk24r6gH_v8   Posted on YouTube: September 17, 2008 By YouTube Member: Views on YouTube: 0   Posted on DU: September 18, 2008 By DU Member: underpants Views on DU: 2318

 
I can't find this whole segment yet but it was amazing to watch

Barney basically said that the REGULATED entities are who we are and will have to turn to because they were not allowed to go off the grid. Very interesting and informative.

I'll look for it.

[central scrutinizer]

1. Blame the poor - who are they fucking kidding?

[SuckItTrebeck]

4. I know that I'm certainly tired of them always messing up the financial markets.

[underpants]

5. Welcome to DU

LOVE the screename

:rofl:

worthy of a shotout
http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=105&topic_id=8103234&mesg_id=8103234

[bigwillq]

6. Welcome to DU!

:hi:

[medicswife]

8. Welcome to DU!!!!

:toast:

[flvegan]

9. Great name. Welcome to DU!

[Midlodemocrat]

11. Greatest user name ever!!!!

Welcome to DU!!!!


:rofl:

[madinmaryland]

19. Vanna, You're never going to get Pat's job.

Well maybe you done that!

[KitchenWitch]

20. Welcome to DU

Interesting screenname!

:hi:

[Writer]

21. Titties! Ah hahahahahahaaaaa. n/t

[applegrove]

27. Welcome to the DU

:hi:

[sop]

14. I guess that's what they mean by "class warfare"

Amazing spin! What a load of corporate revisionist bullshit.

[Hatalles]

17. This was the same exact reaction I had.

[gateley]

2. Barney knows his stuff -- the commentator just seemed to have a talking

point. This was nice to watch!

[underpants]

3. Barney does indeed

[gravity]

13. Barney Franks always kicks ass on CNBC

Some of the commentators really hate it when they are interviewing him.

[Captain Hilts]

7. WHY isn't Barney Frank Speaker of the House? Answer me that! nt

[VeggieTart]

10. Ya got me

Maybe if Cindy Sheehan ousts Nancy Pelosi (has California had its primaries yet? If so, what were the results?) and wins the seat, the Dems can make Frank speaker.

But I'd really love to see Dennis Kucinich Speaker.

[Captain Hilts]

12. Frank's funnier. More people would watch C-Span! nt

[alcibiades_mystery]

15. Man, that woman got schooled

"Uh, first of all, it's the Community Reinvestment Act."

Ouchies.

:rofl:

[rosesaylavee]

16. GOOD for Barney

Used to work for a non-profit assisting banks with these type loans. The scrutiny these borrowers went thru was intense. And many were not allowed. The bankers I worked with were very concerned that they would NOT be putting a potential borrower into deeper financial trouble by making another loan to them.

Let's talk about all those who were caught flipping houses for profit these last few years. They were not the lower to mid income people benefiting from CRA.

[underpants]

18. Yes they do and you know who I have heard praising this sort of banking-Wayne Rogers

Yep Trapper John

He is a regular on the Saturday morning Fox business show. There is some hair-treatment pinhead on there that Rogers takes on regularly in regards to banking.

Turns out that Rogers has owned a couple of small, community banks. When Walmart floated the idea of banking he went off on that show. He also rightly and smartly pointed out that the repeal of the Glass-Steagel Act by Phil Gramm and Thom Bliley was what caused most of this (merging commercial and investment banking).

The point of community banks isn't that they make risky loans it is that they have local knowledge and contacts that the huge banks don't so they go out and make loans (small ones a lot of times) to businesses that usually aren't shown what is available (often through the Small Bus. Admin) so they can expand and add jobs. Banks don't make money on failed loans so they have to be very careful but they also have the community in mind when the DO make loans.

Great post and an important point for people to know rose :hi:

[rosesaylavee]

24. Good for Trapper

And yes, I don't think this is widely known. Community and locally owned banks are much much better for loans - their officers have often lived in the community a long time and are less likely to be cavalier in how they run their organizations than the larger conglomerates.

Not a big fan of bankers overall - but this has been my observation.

:hi:

[democracy1st]

22. get em Barney K & R

[Hope And Change]

23. K & R!

[Yo_Mama_Been_Loggin]

25. Good find

NT

[indepat]

26. Damn, MCC was sure sounding like a media whore in that segment

:P