Judges and Mortgage Modification

Rep. Barney Frank has threatened the banking industry with legislation that would allow judges to write down loan payments if the banking industry doesn't modify more loans. This guy is a real tool and those who elected him should be ashamed of themselves. The fact of the matter is, the banks wouldn't be in a position to have to modify loans if Rep. Frank and his cronies had not forced the banking industry to loosen their lending rules in an effort to increase the number of home owners, particularly minorities. It was Rep. Frank's own rules that created this mess and now he's threatening the banks. You can bet when they do meet his modification goals many of them will no longer be solvent. When that happens look for one Rep. Barney Frank to then step up to the microphone and accuse the banks of gross mismanagement. Does it surprise anybody that this guy comes from Massachussetts which has provided us with the likes of ultra-liberals Edward Kennedy and John Kerry?