Barney Frank is one of the only Democratic politicians that can talk about President Obama's stimulus package or the Wall street bail out to the Ame
Barney Frank is one of the only Democratic politicians that can talk about President Obama's stimulus package or the Wall street bail out to the American people and make any kind of sense using economic jargon. He did a good job with Olbermann trying to explain that in '06 the Republicans blocked his attempts at making shareholders vote on golden parachute for CEO's.
"That was treated by my Republican colleagues as if it was the Russian revolution arriving on our shores. They wouldn't even let the bill come up for a vote."
We all know that the Republican base is made up of CEO's. Just ask Bush's ex-treasury man Paul O'Neil. In '07, the WSJ crowd had to protect the Holy CEO too which emboldened them to only make things worse and then in '08, Paulson wouldn't put any restrictions on how the first 350B dollars would be used by the financial sector. With the Bush administration it was impossible to do do things the right way. Frank predicts that the Obama administration will do a much better job at making sure that the TARP money is used in a much more responsible manner. 8 top CEO's are coming in next week to answer some questions.
" Why do we have to give you a bonus to do get you to do a job. Would they stop working Wednesday if they didn't get a bonus? The whole notion that you have to bribe highly paid, powerful people just to do their job is nuts. I'm told by their defenders of this that you want to give them incentives. I don't know Keith, what's your incentive to do your job..."
And the fact that they have no regard for how they publicly conduct themselevs is awful. They taunt the American people with their actions almost everyday.
As JPMorgan announced a $2 billion trading loss, members of Congress called for federal regulators to scrutinize and tighten banking rules and trades. New rules are being drafted as part of the Dodd-Frank bill that prevent federal banks from Read more...
I'm not sure what's gotten into Chris Matthews' drinking water lately, but we're seeing him be a bit harsher with Republicans who come on his show and just try to spew their talking points unchallenged. Matthews and Rep. Barney Frank grilled right Read more...