Barney’s Bubble Babbling

To hear Congressman Barney Frank tell it, he was a lone voices of fiscal reason when the surge of ill-considered mortgage debt fueled the now-popped housing bubble.

Unfortunately for Frank, this is the age of the Internet. Bloggers have proved more than willing to collate inconvenient evidence.

Thanks to Ed Morrissey on HotAir.com, then, we have two testimonies of Frank-ish speechifying. Here’s Frank in 2009:

People haven’t fully understood. One of the causes of the terrible crisis we had over the last few years . . . it came from people being pushed into buying houses, taking out loans that they couldn’t afford. Part of that was a conservative view that rental housing was a bad thing. . . . People were pushing home ownership [for] people who shouldn’t have been there.

“People in power” pushed this, eh? Which people? The irresponsible conservatives. But here’s this same sir, Barney Frank, in a clip from 2005:

We have, I think, an excessive degree of concern right now about home ownership and its role in the economy. . . . This is not the dot-com situation. . . . [Y]ou’re not going to see the collapse that you see when people talk about a bubble. And so, those of us on our committee in particular, will continue to push for home ownership.

Oh dear. Barney, just be honest already and admit you helped destroy the economy, okay?

This is Common Sense. I’m Paul Jacob.

cross posted from ThisIsCommonSense.com