Let's be frank. Barney Frank continues to yodel about AIG. He is a big pain in the Fannie. Back in 2002, Mr. Frank was a major advocate for expanding not only Fannie but Freddie. (There are a million jokes in that line, but.....)
In 2003 Mr. Frank declared that both were "not in crisis" and that they were "fundamentally sound financially." He steadfastly made the same diatribe in 2005
when he rejected the argument that us taxpayer-type-folks were the ones who are responsible for F&F.
In 2007, Barney actually came up with the idea of raising the caps on both F&F.
All this would do would raise the risk of more exposure to taxpayers. Hence the subprime mortgage mess.
Watching ole Barney huff and puff in his "grilling" (pardon the pun) of AIG CEO Ed Liddy was even more amusing. After Jabba the Hut (aka Barney) finished with his partisan dance, he sulked under the microphone and muted away.
At least temporarily.
