Wednesday, February 04, 2009

Memo to Barney Frank (a Simple Request)

Dear Representative Frank,

Please add my e-mail address to your distribution list, so that I can be notified in advance of the beginning of the People's Armed Revolution you're calling for here.

I'd hate to show up late.

Thanks much.

See you then.

~ Bruce

Barney Frank: TARP's comp curbs could be extended to all businesses

Congress will consider legislation to extend some of the curbs on executive pay that now apply only to those banks receiving federal assistance, House Financial Services Committee Chairman Barney Frank said.

There’s deeply rooted anger on the part of the average American,” the Massachusetts Democrat said at a Washington news conference today.

Well, you got that part right, asshole. F***in' nailed it!

He said the compensation restrictions would apply to all financial institutions and might be extended to include all U.S. companies.

But, don't you dare call him a socialist. That would suddenly become a secret Republican code word for "I hate black gay people!".

Just kidding, we all know that Barney Frank, that upstanding stalwart of "progressive" compassion and tolerance for others would never stoop so low as to try to discredit someone in such a vile, disingenuous manner.


Here's the Money Quote from the article. This one's an absolute gem, and could have been a four-page blog post unto itself.

The bill, which the committee is working on in consultation with the Obama administration, also will require financial institutions that bundle mortgages into securities to share in potential losses. This would give banks and mortgage-specialists an incentive not to make bad loans, he said. Institutions that securitize loans improperly will incur tougher penalties.

There have been too few constraints on major financial institutions incurring far more liability than they could handle,” Mr. Frank said.

You don't say.

Term Limits...half a mile of rope...I'm pretty flexible.