10 things a satirist gives thanks for

  1. The Bush Administration
  2. GM’s “leadership” (What’s the difference between the cub scouts and GM? Adult supervision.)
  3. Sarah Palin and her handlers sarah-palin-turkey-slaughter-big
  4. The voters of Minnesota. Jesse Ventura! Al Franken! (someone’s spiked the 10,000 lakes).
  5. Jaguar Land Rover for applying for a bailout.
  6. Barney Frank: “These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis. The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.
  7. The Chicago Cubscub curse
  8. Alan Greenspan
  9. The phrase “too big to fail.” Econ speak for: About to bite the dust.
  10. Joe Biden: “When the stock market crashed, Franklin Roosevelt got on the television and didn’t just talk about the princes of greed. He said, ‘look, here’s what happened.’”

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The kind of forward thinking people we want working on this problem

“These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis. The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.” —  Rep. Barney Frank of Massachusetts, September, 2003. Frank is now the chair of House Financial Services Committee.

Frank spoke against a Bush administration plan to create an agency to oversee Fannie Mae and Freddie Mac. The proposed agency would have had the authority “to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios.”