No Surprises and Fannie Mae now Seeks Bailout of 8.4 Billion – Barney Frank – Retirement Options are on the Table

Fannie Maeis seeking an additional 8.4 billion in funding from the federal government on top of the 13 plus billion loss in the first quarter. Fannie Mae, sister to Freddie Mac, are examples of government run and funded programs that have spiraled out of control over the decades. The mortgage giants can be directly linked to the start of the financial crisis that began the spiral of recession in the last year of the Bush Presidency. The chief architect and cheerleader for the institutions is the Congressman from Massachusetts 4th district, Barney Frank (D-Ma), who has repeated gone to the defense for Mae and Mac.

As recently as the 5th of May, Frank had asked the White House to protect his favorite lenders from “Republican attacks”. The trail of corruption and Frank’s insistence that the two lenders are on solid ground can be traced back to 2003, when frank told a Frank insisted before Congress that the two entities were “sound” quote from NYTimes Article:

''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.''

Perhaps it is time to take government control away from certain types of institutions (namely anything relative to the financial strength of our nation). Just how many government run programs are not rife with corruptions, bankrupt and supported endlessly by politician’s who receive large donations from whichever industry happens to be at the public trough? The Federal Government should be divested from corporations it currently “oversees” (sic. “Owns outright”) and allow those to either fail or succeed based on their merits. One has to question how much debt can the United State continue to amass?

As to Barney Frank, his sister-in-arms, Nancy Pelosi, and the ringleader of the Senate Clowns, Harry Reid; it may not be long before they are replaced by conservatives (see November 2011). In Frank’s district, two republicans are running against Barney Frank: Earl Sholley, a stalwart fiscal conservative, www.sholleyforcongresss.us and a new face to Massachusetts Politics, Sean Bielat www.seanbielat.org will face off in a September primary. Whichever one of these men, who make it through the primary, should be a force in the 4th district, and deserving of support on a national basis in order to rid our nation of that imbecile, Frank. That is, of course, if Frank does not pull a Gordon Brown and simply bows out of the race at the last minute, by announcing his retirement (and those rumors have been rampant.)

Over in California, Dana Walsh is giving Pelosi a run for her money, literally. Walsh,a conservative who will not support taxing your great-grandchildren to pay for Nancy's earmarks, can be found at www.danawalshforcongress.com

In Nevada, there are so many running against Harry Reid and besting him by double digits, the conclusion is somewhat foregone. One of three or four Republicans are leading Reid according to polls at Real Clear Politics.