An associate for the economic crisis Inquiry Commission reacts to your meeting with Barney Frank, arguing that minus the federal federal government’s intervention, there is no housing crisis
On 9, The Atlantic published online an interview with Congressman Barney Frank december. He called me personally a “real extremist. Inside it, ” This name-calling had not been just false but in addition improper to the severity associated with the problem — that will be whether federal government housing policy, and never the banking institutions or perhaps the personal sector, caused the 2008 crisis that is financial. I made the decision to answer both Congressman Frank’s statements while the questions he had been expected about federal federal government housing policy while the crisis that is financial.
We are hearing Republicans within the presidential main fault the housing crisis in the Clinton-era push to provide more to the indegent. In your view, just exactly what caused the home loan crisis and later the economic crash?
Congressman Frank, needless to say, blamed the crisis that is financial the failure acceptably to manage the banking institutions. In this, he’s after the conventional Washington training of blaming other people for his very own errors. For some of his job, Barney Frank had been the main advocate in Congress for making use of the us government’s authority to force reduced underwriting standards when you look at the company of housing finance.