Follow this link to the 27 minute video of Washington Journal on C-SPAN Thursday, July 24, 2008.
Rep. Barney Frank (D-MA), Financial Services Committee Chairman talks about the stability of and changes in the domestic and international markets as more and more assets are held outside the traditional banking system. He also discusses the passage of the housing bill by the House.
There is a lot to learn in this video including some thoughts on good investments and bad.
I stumbled across this video trying to do some research to respond to a comment on the Worcester T & G website about Barney Frank’s statement that Freddie Mac and Frannie Mae were sound. Perhaps he should not have said this, but it may be that at the time he said this it was true. The situation deteriorated in ways that could not have been foreseen at that point.
My post on this blog titled Private sector loans, not Fannie or Freddie, triggered crisis tries to address the complexity of both sides of the issue.