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 FrankThere were a lot of Romneys. There's the Romney who was going to be better on gay rights than Ted Kennedy; now there's a Romney who checks with Rick Santorum on that issue.
Barney FrankI can tell you about health care and also about the financial reform bill. The Barack Obama, the President personally and his administration officials at his direction were very much involved.
Barney FrankIncreasing inequality in income distribution in this country has broader policy implications, and there is also the growing problem of perverse incentives that result from executives receiving grossly disproportionate compensation based on decisions they themselves take.
Barney Frank