Memo to Barney Frank: Four steps to fix finance

I believe that hedge funds need to be held to same standards as any investment funds. They played havic with all commodity prices this past year and they have taken advantage of the commodity market, not as was originated.
Also there needs better enforcement of short selling.

WHAT I WOULD TELL HIM IF I HAD THE CHANCE WOULD BE FOR HIM TO RETIRE AND GO FISHING BECOUSE HE KNOWS NOTHING ELSE

The idea of Mr. Frank, who said he thought Fannie and Freddie were sound, discussing next steps is a tad terrifying.

Hey Barney,
How about raising the Capital Loss deduction for individuals so that we can deduct all of our individual financial losses in a shorter period of time. At the current 3k per year IRS limit, many taxpayers won't use it up during their lifetime. Yet Corporations get to deduct it immediately. How about a small bailout for the average individual investor? Please RAISE THE CAPITAL LOSS DEDUCTION TO AT LEAST 10K PER YEAR.

Mr.Frank,sir.To regain some control and confidence over the financial disaster produced on your watch,I propose the following:Either nationalize the auto,banking insurance and housing industry or let them all enter chapter 11 and sort themselves out.There is sufficient talent and money out there such that they would recover from chapt 11 as viable enterprises.

Barney Frank makes me ill. Pompous, arrogant, and self serving, with no apparent substance. The perfect lifetime congressman from massachusetts.

Isn't Barney Frank the epitome of the root cause of this financial emlt down. Wasn't it Mr. Frank who VEHEMENT FOUGHT AGAINST and VOTED AGAINST implementing any "level of regulation and oversight" of Frannie, Freddies, etc.?

In my personal opinion, I firmly believe that Barney Frank is the epitome of the CORRUPTION in Congress that has enabled and perpetuated the economic and business practices that have led to this entire debacle. How can Barney Frank possibly contribute ANYTHING CONSTRUCTIVE to the recovery efforts. Barney Frank is CORRUPTION PERSONIFIED.

I would love to tell Rep. Frank that if the banks insist on "not telling" the taxpayers what they did with that bailout money, then any bank that received these bailout funds will find themselves assessed a special tax that would amount to a 90% tax rate.

Oh, and since these banks can borrow from the Fed at 0%, insist these "bailout barons" cut their credit card interest rates to a MAXIMUM of 12% for ANY customer.

Congress is the primary CULPRIT in the economic problems of the USA. They basically "sold out" to the special interests groups . . . and Barney Frank was one of the worst Of the Congressmen in regard to this issue.

Reportedly his "boy friend" or "significant 'other'" held a high paying job at Fannie Mae at the time that Frank VEHEMENTLY FOUGHT AGAINST regulation and oversight of Fannie, Freddie, etc.

Frank is a stumbling,bumbling buffoon; the people of MA need to have a recall election to replace the guy. He simply is not competent to be a Congressman.

Hi,

Wish U A Happy New Year 2009 ;)

Insurance Agent

BARNEY FRANK

WHAT A JOKE

At the time Frank said F&F were sound, 2003, they were sound. So was Bear Stearns. So was Lehman, etc.

That was before GWB administration and his drunken lunatic buddies in private industry had finished screwing up the world.