Comments on: Bad idea: Barney Frank legislation on mortgages https://www.overlawyered.com/2007/10/bad-idea-barney-frank-legislation-on-mortgages/ Chronicling the high cost of our legal system Wed, 24 Oct 2007 15:16:36 +0000 hourly 1 By: Tom Meadows https://www.overlawyered.com/2007/10/bad-idea-barney-frank-legislation-on-mortgages/comment-page-1/#comment-9352 Wed, 24 Oct 2007 15:16:36 +0000 http://overlawyered.com/wpblog/?p=5479#comment-9352 It appears Congressman Frank is grand standing. His new proposed rules would create a credit crunch in housing worse that in the early 1970’s.

His proposals clearly illistrate that he does not understand the real world of real estate financing. Remember in the late 1970’s New Yorks 8% usury law? Remember what happen in Georga a few years ago when it first passed is predatory lending law (that was soon after modified)?

I believe it is his idea of how to get more political donations for his party.

His proposals/new rules will be a great fund raiser for the Democrats.

Keep track of the number of financial firms that will appear on his contribution disclosures.

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