These were not bad guesses about derivatives. This was not overconfidence about mortgages. This was conscious deception in their own self-interest.
Editor's note · Context
Frank criticizes financial institutions for intentional deception during the financial crisis.
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More from Barney Frank
I am tired of the Republicans' death-by-1,000-cuts strategy to roll back the significant gains we have made since Dodd-Frank enactment.
One thing that not only Barney Frank, Ms. Barnes and also Sandra Day O'Connor, Justice O'Connor agreed on is that that Kelo decision stripped those three words out of the Fifth Amendment, 'for public use.'
I think that on the heels of what we have just seen in South Carolina, where we are eliminating symbolism, it seems to me that we have an opportunity to actually get into the invidious discrimination that still takes place.
I urge staff to pay close attention to the differences in products offered by nonbank institutions and to be mindful of Congress's intent in financial reform that State consumer protection laws be preserved to the extent possible.





