Barney Frank: Obama's TARP to Include Lending Push

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Nud of PA 4:12PM May 02, 2009

Carl, you say you're not a very smart person, but you sound a whole lot smarter than the crew in Washington DC. You hit the nail on the head when you ask how long will we "let government take us down the road to failure". That's the key question. These people in Washington, both Democrats and Republicans alike, are so out of touch with the American people that they no longer represent us. Their agenda is so foreign to most Americans, from support for massive immigration to spending huge amounts of taxpayer money on dubious projects, that we really need to consider a complete overhaul of the entire Congress in 2010. Here's to "Project Fresh Start". Throw out the incumbents!!

Rod Jr. of IL 11:15AM February 03, 2009

Barney will never learn. America can not continue to make stupid mistakes. The reason we are in this mess was caused by our elected leaders. I worked the last 25 years in residential construction. When i visited my brother in Florida in 2003, he told me how folks are buying there $300,000 homes with no money down, and redused payments for the first several years, i knew we are in trouble, big time. I am not very smart person by any means, but any rational thinking person could know that this is headed for disaster. Acorn should be shut down imediately, this has been corrupted by greed and fraud, let banks do the lending without goverment forcing them to make bad loans. The stimulas package must not support this corrupted organization. Will us American's continue to let goverment take us down the road to failure. A very important issue in this problem, is the moral and spiritual condition in America today. This is connected to our problems that will continue to escalate without a spiritual renewal in our nation. I pray for our new president, but he is very immature, but a very convincing speaker, but we need more than swelling words to turn the tide in this coming disaster. We must make a big turn in direction, if we want to survive financially and continue to be respected as a world power.

Carl Martin of PA 9:39AM February 03, 2009

So Barney Frank is going to force banks to make more loans. Isn't that what he did at Fannie Mae and Freddie Mac?
Engaging in the same behavior while expecting a different outcome is the definition of insanity.

Bill of NJ 3:12PM February 02, 2009

How is pushing more debt going to solve the problem that was created by bad debt? Where are the creditworthy borrowers who need loans? What are these loans for? Personal use? Homes? Cars? It does no good to make a loan to someone who doesn't have job security.
They are trying to solve this problem from the top down, rather from the bottom up. In order to stabilize anything, citizens must have job security first. Once they have job security then they can focus on the new house, new car, family vacation. Until that happens, the financially responsible citizens are going to sit on their cash, pay down current debt, and avoid new loans like its the plague.
It's like putting an infected bandaid on an open wound. Their "solution" is only going to perpetuate the problem. If they government wants the citizens to have loans so bad then maybe they should make those loans directly to them.

T of MO 2:23PM February 02, 2009