Sex Sells…

…and taxpayers have been sold down the Recession River.

Ya' know it really pisses me off that the liberal do-gooders wanna' outlaw pure bred dogs—while mongrels are doin' it on every streetcorner—but think liberal humans who hump anything in sight aren't worth fussin' about.

'Course when John McCain spent what was considered too much time with a female lobbyist, that was worth a big New York Times investigation. But when Mr.-I'm-Bendin'-Over-For-Love-Of-Fannie-Mae set up housekeepin' with Fannie Mae exec Herb Moses, at the same time that Rep. Frank was sittin' on the House Bankin' Committee, there's not a blink.

Unqualified home buyers were not the only ones who benefitted from Massachusetts Rep. Barney Frank’s efforts to deregulate Fannie Mae throughout the 1990s.

So did Frank’s partner, a Fannie Mae executive at the forefront of the agency’s push to relax lending restrictions.

Now that Fannie Mae is at the epicenter of a financial meltdown that threatens the U.S. economy, some are raising new questions about Frank's relationship with Herb Moses, who was Fannie’s assistant director for product initiatives. Moses worked at the government-sponsored enterprise from 1991 to 1998, while Frank was on the House Banking Committee, which had jurisdiction over Fannie.

[…]

Frank met Moses in 1987, the same year he became the first openly gay member of Congress. "I am the only member of the congressional gay spouse caucus," Moses wrote in the Washington Post in 1991. "On Capitol Hill, Barney always introduces me as his lover."

The two lived together in a Washington home until they broke up in 1998, a few months after Moses ended his seven-year tenure at Fannie Mae, where he was the assistant director of product initiatives. According to National Mortgage News, Moses "helped develop many of Fannie Mae’s affordable housing and home improvement lending programs."

Critics say such programs led to the mortgage meltdown that prompted last month’s government takeover of Fannie Mae and its financial cousin, Freddie Mac. The giant firms are blamed for spreading bad mortgages throughout the private financial sector.

Although Frank now blames Republicans for the failure of Fannie and Freddie, he spent years blocking GOP lawmakers from imposing tougher regulations on the mortgage giants. In 1991, the year Moses was hired by Fannie, the Boston Globe reported that Frank pushed the agency to loosen regulations on mortgages for two- and three-family homes, even though they were defaulting at twice and five times the rate of single homes, respectively.

So 'cause Barney Frank likes to take it up the Fannie so much, he figures the US taxpayer should too.

Dug up at NRO's The Corner. And please note I managed to get thru the whole post without makin' reference to partin' the waters or a big purple dinosaur which, BTW, was pushed on unsuspectin' children by Michelle Obama. "When an opportunity came in to handle the budding public television career of Barney, the purple dinosaur poised to become a phenomenon among American children, [the Sidley & Austin law firm] felt it had Michelle's name written all over it."

posted by Harrison at 10:57 PM