Trying to avert foreclosures, once you can't just force the banks to do it as a condition of getting aid, means that you have to put some public money into it or you have to do other things that are politically unpopular. From the macroeconomic standpoint there is overwhelming need to help people reduce what they owe so that we don't get the foreclosures and we don't get people kicked out of their homes. On the other hand, there is great resistance politically to helping people, not all of whom would be worth recipients of the help.
Barney FrankFor many of those who had historically supported welfare programs in the broadest sense, it was perfectly reasonable to enact legislation in which poor people were the objects of efforts to assist them.
Barney FrankThe single most important thing you can do politically for gay rights is to come out. Not to write a letter to your congressman but to come out.
Barney FrankI am not aware of any specific provision that mandates any tightening of lending to small business other than a requirement that people who lend and then sell that loan be prepared to take a part of the risk. And I'm proud of that.
Barney FrankIn America, unlike England, unlike Israel, unlike Japan, other democracies, we have elections that have staggered terms.
Barney Frank