Just answer the questions, Mr. Chairman

February 12, 2009 in Finance

Barney Frank (D - MA) is the chairman of the House Financial Services Committee, which means he plays quite a role in analyzing the meltdown of 2008.  Yesterday, he led the interrogation of the bank CEO's.  Today, Caroline Baum's Bloomberg column hypothesized what would transpire if the situation were reversed:

Chairman Frank, on July 14, 2008, you made the following pronouncements about Fannie Mae and Freddie Mac, the two huge government-sponsored enterprises that are the key players in mortgage finance:

“Fannie and Freddie are fundamentally sound.”

“They are not in danger of going under.”

“Looking at the financials, they’re solid.”

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