Imagine how the Democrats and their allies in the mainstream media would have reacted if Republicans had succeeded in blocking the “stimulus” and the economy remained in the doldrums. If the Republicans blamed the majority party for inaction, they would accuse us of hypocrisy while lecturing us on the evils of Republican obstructionism.
Although the “stimulus” passed, it has not worked as advertised, job losses continue to mount to levels far higher than those the Administration had forecast. While the economic picture remains bleak, at least we can take some satisfaction in being proven right.
But, despite his best efforts (with the media covering for him), the unhappy Barney Frank cannot say the same thing about Republican efforts reform Fannie Mae and Freddie Mac. You see, slthough then-President Bush repeatedly called for reform of the two government-sponsored mortgage giants, Democrats succeeded blocking Republican reforms.
And now with a report fingering Frank and others who thwarted such reforms, the mean-spirited man from Massachusetts continues to dodge responsibility and do what he always does when criticized, blame Republicans:
House Financial Services Committee Chairman Barney Frank (D-Mass.), who comes under some criticism in the GOP report, has said more foreclosures were caused by unregulated entities rather than Fannie and Freddie. He has also noted that Republicans were in control of Congress from 1995 to 2007, when the housing bubble was created.
Yup, the unhappy man is right. Republicans were in control, but he did everything in his power to prevent them from using that control to pass legislation he didn’t like. His obstructionism served a double purpose (1) preventiing Republicans from implementing policies Barney didn’t like and (2) blaming Republicans for their failure if things went south.
Barney just didn’t want to risk having Republican policies succeed.
I’m sure Barney would be singing a different tune if Republicans had blocked the “stimulus.”