Look Behind The Curtain

clipped from pajamasmedia.com But rather than attacking just Cramer—who does seem to be an unreliable source of financial information—why not go after Barney Frank who, also in 2003, argued that “these two entities, Fannie Mae and Freddie Mac, are not facing any kind of financial crisis.” As the Washington Post reported, Frank “said the [Bush] administration’s position [on tighter regulation of Fannie and Freddy] is driven by concerns about the financial safety and soundness of the companies ‘to the exclusion of concern about housing.’” To the exclusion of concern about housing. But here is a potential difference: Frank hasn’t attacked Barack Obama’s stimulus plan as “causing the greatest destruction of wealth I have ever seen by a president,” as Cramer recently did. But of course, you rubes, cable television is the real malevolent power behind the financial crisis. Mustache-twisting CEOs use financial news programs to manufacture consent! Pay no attention to the corrupt legislator behind the curtain.