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Barn barn needs to own up!
nother View: Barney Frank should own up ?to his mistaken policy predictions
The former congressman backed programs that fueled the housing bubble and led to its bursting.
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With respect to Barney Frank’s most recent column (“Predictions proven wrong still matter,” Aug. 30):

Mr. Frank correctly argues that “politicians, commentators, public officials and others” ought to be held accountable for their predictions and prognostications. This is especially true of our governing representatives, past and present, including Mr. Frank.


Mr. Frank, unabashedly in favor of a policy that government legislate as much of our daily lives as possible, derides all criticism of federal intrusion into the U.S. economy. Yet he ignores federal intervention that has been an abject failure.

Take, for instance, the legislation that then-Rep. Frank spearheaded during the Clinton administration demanding that Fannie Mae and Freddie Mac make more funds available so that poor people could also enjoy the benefits of homeownership.

The resultant imbalance of demand versus supply caused home prices to soar beyond realistic valuations, and when the bubble burst it was the very people who Mr. Frank sought to help who were hurt the most.

Mr. Frank’s real point is that opposition to past government programs has been wrong (a questionable conclusion), and therefore, opposition to current and future proposals is, by definition, invalid, especially with respect to the current debate over the Iran deal.

His premise is itself invalid. Debate is healthy. We ought to re-engage, especially in view of the fact that Iran has already demonstrated an unwillingness to be fully cooperative.

http://www.pressherald.com/2015/09/05/another-view-barney-frank-should-own-up-%E2%80%A8to-his-mistaken-policy-predictions/