IBD editorial blamed Frank for "nix[ing] reforms" of Fannie and Freddie in '02 and '03 -- when GOP controlled House

SUMMARY: An Investor's Business Daily editorial stated, "Starting in the early 1990s," Rep. Barney Frank "(and other Democrats) stood athwart efforts by regulators, Congress and the White House to get the runaway housing market under control." It specified that "[i]n 2002, Frank nixed reforms" of Fannie Mae and Freddie Mac and that in 2003, "led by Frank, Democrats stood as a bloc against any changes" that President Bush proposed making to Fannie and Freddie. But in 2002 and 2003, Republicans controlled the House and could have passed legislation regarding Fannie and Freddie in the House without the support of Frank or any other Democrats.

Comments