Barney Frank on the $700-Billion Bailout
Posted by Caleb O. Brown on September 23rd, 2008 in economics |
“I think we have to recognize the reality that we don’t have a choice now of debating whether this is a good or a bad thing,” said Barney Frank, chairman of the House Financial Services Committee.
Are you kidding me? It is precisely, exactly 100% Barney Frank’s job to debate “whether this is a good or a bad thing.” One huge concern that I have is that Frank might use this crisis to push his proposal for global controls on the flow of capital. That would be disaster socialism at its best.
One Response
I think it is slightly more honest to say that they are going to do whatever they want regardless of the merits, as Frank does, than to say that what they are doing is a good, necessary thing. I guess that’s as close as I’ll get to siding with Barney Frank against Mitch McConnell. The outrage is that we are going to take so much money from people who have been more or less responsible and giving it to those who have been irresponsible.