Posted by
Defend America on Tuesday, October 07, 2008 10:26:13 AM
| Frank says GOP housing attacks racially motivated |
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Oct 6 08:12 PM US/Eastern
By GLEN JOHNSON
AP Political Writer |
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BOSTON
(AP) - Rep. Barney Frank said Monday that Republican criticism of
Democrats over the nation's housing crisis is a veiled attack on the
poor that's racially motivated.
The Massachusetts Democrat,
chairman of the House Financial Services Committee, said the GOP is
appealing to its base by blaming the country's mortgage foreclosure
problem on efforts to expand affordable housing through the Community
Reinvestment Act.
He said that blame is misplaced, because
those loans are issued by regulated institutions, while far more
foreclosures were triggered by high-cost loans made by unregulated
entities.
"They get to take things out on poor people," Frank
said at a mortgage foreclosure symposium in Boston. "Let's be honest:
The fact that some of the poor people are black doesn't hurt them
either, from their standpoint. This is an effort, I believe, to appeal
to a kind of anger in people."
http://www.breitbart.com/article.php?id=D93LAKT01&show_article=1
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