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Posted: 8:45 a.m. Thursday, July 30, 2009
By Neal Boortz
I have a message for Slobbering Barney Frank: stay out of the housing crisis. You've already caused enough damage for this country. Please butt out ... if I can use the phrase "butt out" with you.
Who am I kidding? Yesterday Barney Frank threatened the banks. Yep he says that if the banks do not volunteer to save more homeowners from foreclosure, Congress is going to force them. All hail the imperial federal government!
Barney Frank is going to revive the legislation that I told you about earlier in the year. This is the bill that would allow bankruptcy judges to modify home loans. He also says that his committee will not consider any legislation to help banks with lending unless there is a "significant increase" in mortgage modifications.
Promise you this ... as soon as bankruptcy judges are allowed to modify the provisions of home loans, including the principal balance due, mortgage interest rates will be on the way up. Way up.
You know ... maybe the real goal here on the part of Slobbering Barney and his Democrat fellow travelers is to nationalize the home mortgage business. Only by making the government the one and only mortgage lender can you make sure that Barney stays happy.