Franks Plays the Race Card

Barney Franks is a really smart guy, but even worse, he is a very smart politician. Making legitimate questions of the value of making horrifically risky loans to people who shouldn't get them into a racial issue is pure genius on Franks part.

Interestingly though, this is the same, lame line that was used against Republicans when they had legitimate concerns with what Fannie and Freddie were up to. By claiming that Republicans were trying to deprive low income Americans of the dream that was their birthright...and because minorities are disproportionately represented among low income earners....Franks and his cronies in the Congress effectively browbeat attempts to regulate Fannie and Freddie.