Barney Frank: “Fifty million has been set aside in a reserve for defaults if and when they come. Not a penny of it has been given to…”

“Fifty million has been set aside in a reserve for defaults if and when they come. Not a penny of it has been given to anybody. It is simply sitting in that account, in case, and the 42 loans have nothing to do with that. The 8 billion is a fantasy. The CBO says at its best, this is going to cost $175 million. The 8 billion is a purely bookkeeping account. The explanation for this expenditure to go to Brazil, that the poor gentleman from Alabama voted for, is Barack Obama made him do it. The President is a very convenient place for them to hide. In fact, if he is asking me if I am critical of the President in that, yes, I am critical of the President many times.”