Barney Blames Racist Republicans for Credit Mess

The Wall Street Journal published an article recently in regards to Barney Frank's latest explanation of the credit crisis: Racist Republicans !

"They get to take things out on poor people." "Let's be honest, the fact that some of the poor people are black doesn't hurt them either, from their standpoint."
Rep. Barney Frank (D-MA)House Financial Services Chairman

Not all Democrats agree with Barney:

"Like a lot of my Democratic colleagues I was too slow to appreciate the recklessness of Fannie and Freddie. I defended their efforts to encourage affordable home ownership when in retrospect I should have heeded the concerns raised by their regulator in 2004. Frankly, I wish my Democratic colleagues would admit when it comes to Fannie and Freddie, we were wrong."

Representative Arthur Davis of Alabama(D-AL) Member of the Congressional Black Caucus

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