Barney Frank Is Not In Jail Why Again?

RealClearMarkets - Barney Frank Comes Home to the Facts: "Some would say Frank's mea culpa is politically motivated in advance of an election where bailout nation and big government are public enemies number one and two. Of course, poll after poll shows that the $150 billion Fan-Fred bailout, which the Congressional Budget Office estimates could rise to $400 billion, is detested by voters and taxpayers everywhere.

In fact, these failed government agencies are in such bad shape that they can't even pay Uncle Sam the dividends owed under the conservatorship deal reached two years ago. That's right. In order to pay a $1.8 billion dividend on Treasury department stock, Fan and Fred had to borrow $1.5 billion from - you guessed it - the Treasury.

Then there's this head-scratching detail: In an absolutely outrageous move last Christmas Eve, President Obama signed off on $42 million in bonuses for the top twelve Fannie and Freddie executives, including $6 million apiece for the two CEOs. (Hat tip to attorney Stephen B. Meister.)"

Because people have the memory of fleas and believe his horsepuckey.