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10/2/08

AP Ignores Bailout Leaders' Past Failures

Rep. Barney Frank, who AP mentions promised a solution that "the people can understand", got lamblasted on the O'Reilly Factor for his role in setting up the financial crisis, for claiming Fanne Mae was a good investment.

Five years ago he said, "Fannie Mae and Freddie Mac, are not in a crisis... I must say we have an interesting example of self-fulfilling prophecy. Some of the critics of Fannie Mae and Freddie Mac say that the problem is that the Federal Government is obligated to bail out people who might lose money in connection with them. I do not believe that we have any such obligation. And as I said, it is a self-fulfilling prophecy by some people."

AP fails to mention Barney Frank's appalling failures, or the failures from the others who are the very politicians pushing the bailout. If a surgeon botched a procedure on you before, would you ask him to try it again? People have a right to know.

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