Barney Frank Bitchslaps The Republicans On The Economy

In today’s Globe reporter Beth Healy interviews Representative Barney Frank, chairman of the House Financial Services Committee, in a Q & A.

A couple of interesting bits from the interview:

Q.Why not bail out Lehman Brothers?
A. What you had was a lot of conservatives saying, oh, let’s let them go belly up. And as I’ve said, as it turns out, looking at a dead belly isn’t as enjoyable as they thought it would be. I am thinking about a bill that would make Sept. 15 Free Enterprise Day in America, because it was the only day in which the Bush administration lived by it. The problem is this, their failure to regulate sensibly has so endangered the economy and so burdened it with bad stuff that it’s become very vulnerable.

Q.So suddenly the government is in the business of intervening in corporate America. What does that mean?
A. The Republicans – their own philosophy blew up in their face. They were so extreme in their insistence that there be no government intervention that they have wound up provoking far more government intervention than the Democrats ever would have.

You go, Barney!

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