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View Diary: POTUS and Rep. Pelosi Announce Plans to Win Back the House (317 comments)

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  •  This (5+ / 0-)

    http://delong.typepad.com/...

    The source for the report is Barney Frank.

    •  Thanks. (4+ / 0-)

      All those people losing their homes who didn't have to....

      The banks have a stranglehold on the political process. Mike Whitney

      by dfarrah on Fri Jun 07, 2013 at 09:05:32 PM PDT

      [ Parent ]

    •  Good report from Barney Frank about Obama. (0+ / 0-)

      I had actually missed that one.

    •  I'm confused. (3+ / 0-)
      Recommended by:
      Tony Situ, aitchdee, sviscusi

      According to the piece you linked to, President Obama didn't even know about the mortgage relief proposal. His people didn't tell him about it.

      The mortgage crisis was worsened this past time because critical decisions were made during the transition between Bush and Obama. We voted the TARP out. The TARP was basically being administered by Hank Paulson as the last man home in a lame duck, and I was disappointed. I tried to get them to use the TARP to put some leverage on the banks to do more about mortgages, and Paulson at first resisted that, he just wanted to get the money out. And after he got the first chunk of money out, he would have had to ask for a second chunk, he said, all right, I’ll tell you what, I’ll ask for that second chunk and I’ll use some of that as leverage on mortgages, but I’m not going to do that unless Obama asks for it.  This is now December, so we tried to get the Obama people to ask him and they wouldn’t do it.
      http://delong.typepad.com/...

      I was curious so I read the entire New Yorker Magazine article piece you linked to supposedly quoted.  They and you seem to have left out a few things.

      Here's the entire quote.

      The mortgage crisis was worsened because critical decisions were made during the transition between Bush and Obama. TARP was basically being administered by Hank Paulson as the last man home in a lame-duck presidency. I tried to get them to use the TARP to put some leverage on the banks to do more about mortgages, and Paulson at first ­resisted—he just wanted to get the money out. And after he got the first chunk of money out, he said, “All right, I’ll tell you what, I’ll ask for a second chunk, and I’ll use some of that as leverage on mortgages, but I’m not going to do that unless Obama asks for it.” This is now December, so we tried to get the Obama people to ask him, and they wouldn’t do it. During the critical period when the TARP was being administered, there was a vacuum of political leadership. At one point, Obama said, “Well, we only have one president at a time.” I said I was afraid that overstated the number of presidents. We had no president.
      [empahsis added]

      http://nymag.com/...

      It was Barney Frank, pushing for help for home owners, not Bush.  Barack Obama would not be sworn in as President for a month, and his advisers hadn't told him about any plan for mortgage relief for homeowners.

      And yet, he's somehow to blame for this?

      Now I may be missing something, but that's stretching things a bit, isn't it?

      "Compassion is not weakness, and concern for the unfortunate is not socialism." Hubert H. Humphrey

      by Onomastic on Fri Jun 07, 2013 at 10:32:36 PM PDT

      [ Parent ]

      •  Just like the Tea Party (1+ / 0-)
        Recommended by:
        Tony Situ

        The Liar Blog Fake crowd live in their own reality.

        Step 1: Someone writes a highly misleading diary with a selective use of facts. Step 2: Someone else writes a highly misleading diary to counter the first diary with a selective use of facts. Step 3: Someone says Obama is worse than Hitler. Repeat.

        by NoFortunateSon on Sat Jun 08, 2013 at 05:12:21 AM PDT

        [ Parent ]

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