Barney Frank is a former MA congressman who played a huge role in the market crash of 2008 through his involvement in the Fannie and Freddie scheme. Now he wants the Fed to prop up the market because he’s a afraid a crash before election day would hurt Hillary’s chances.
Sputnik News reports:
Hillary Surrogate Begs Fed to Artificially Prevent Market Crash Until Election
Former Congressman Barney Frank, one of the architects of the failed Dodd-Frank “Wall Street Reform” act” called on the apolitical Federal Reserve to keep interest rates low fearing that if the American economy slipped into recession Hillary may lose.
One of the central tenets of the Trump campaign is that the US economy has been artificially inflated due to the Federal Reserve flooding the market with cheap money and that when the central bank eventually reverses its backdoor stimulus policy the reality of the country’s economic woes will come crashing all at once. It appears that is a view shared by Hillary’s top financial expert Barney Frank.
The problem with historically low interest rates that have yet to creep upwards eight years into the crisis is that it removes the market’s risk control mechanism leading to the inflation of asset bubbles as businesses are always able to cover gaps in their balance sheet with loads of cheap credit.
It has long been expected that the Federal Reserve would soon move to raise interest rates in order to prevent the development or worsening of such economic bubbles, but many market insiders believed that this would likely not occur until after the election season – the last time such an action was undertaken was under Alan Greenspan in 2000 which led to a softening of the US economy perhaps stripping support from Al Gore. The US economy ultimately entered a recession by March 2001.
Democrats don’t care about the people at all. They just want to retain power.