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In this special preview edition of this week’s show, CWR co-hosts Francesca Rheannon and Bill Baue interview US Representative (D-MA) Barney Frank, chair of the House Financial Services Committee that is now ushering the Troubled Asset Relief Program bill, or TARP, through Congress. The bill revises the President’s proposed bailout of financial institutions to the tune of $1 trillion, which has been labeled “Cash for Trash.” The bill is changing practically by the hour, and we caught Rep Frank today as the bill makes its way toward debate in Congress.
Troubled Asset Relief Program (TARP) bill as of 1:09 p.m. on September 22, 2008
Check back and tune in Wednesday for the full show, which will include this interview, as well as a conversation with Bob Pollin of the Political Economy Research Institute at the University of Massachusetts in Amherst in his new Green Recovery report, and the CWR ViewPoint from futurist Hazel Henderson of Ethical Markets on the market meltdown.
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Barney Frank, bob pollin, hazel henderson, house financial services committee, political economy research institute, troubled asset relief program
this guy is the biggest scam artist in America….his largest political donor is Brown Harrimann..the largest lender of securities in the U.S….they cater to HEDGE FUNDS…you know those accussed of abusive short selling the market…other donors are he CBOE and the CME….the option traders have been prominently mentioned as abusive in their shorting strategies…wait it gets better (worse) one of his bosom buddies whom he has worked closely with in the past in the co-authoring of bills during the Clinton Administration is none other than Chris Cox the controversial head of the SEC eho in July of 2007 changed the uptick rule and also allowed naked shorting…John McCain recently said he would fire his fellow republican Cox if he were president for breech of the public trust…in other words it was the change in the short selling rules that brought about the crisis…it gets even worse….Frank as head of the Financial Services Committee ahs been blamed by many for blocking legislation to strengthen the requirements for Freddie and Fannie…Rupert Murdoch blames him for the implosion…so here is the scenario…Frank lobbied Cox on behalf of his short selling clients to shange the short selling rules that had been in place since the 1930’s,,,suddenly the entities he has oversight over is mysteriously beset by rumors of trouble…the shorting begins, the economy begins to head south as the rumors get everyone to tighten their belts…the feeding frenzy enlarges and since its Freddie and Fannie it shakes the whole system and shorting becomes easier across the board…now Frank sits there and no mention of short selling is heard from him as he is there to deflect and deceive the real problem, that his donors ahve fleeced America…you will not here short selling uttered from his deceitful lips….the FBI needs to be alerted to these relationships…and the bogus studies that they intorduced to get the rule changed should be brought to the light of day…and then these traitors who TRIED TO DESTROY THE SYSTEM (AND STILL ARE) SHOULD BE PUT IN SHACKLES…