Barney Frank Seeks to Curb Securitization

Mish comments on Barney Frank's new drive to curtail securitization of mortgages and everything:

Dear Barney "You are a first order magnitude hypocrite. I am talking about your support of HR 600, the down payment assistance program that allows for 0% skin in the game via seller financed down payments."

FHA loans are blowing up 3 times as fast under programs sponsored by Frank.

Barney Frank didn't mind turning Joe Sixpack into a risky hedge fund.Frank wasn't bothered by 4% down mortgages which is 25 to 1 leverage.Just think,Barney Frank still has his job.You've got to wonder about the standards voters have in his district.Can America afford anymore of Barney Frank's leadership and oversight?