If Barney Frank Says There’s No Bailout…

Good news, everybody! Barney Frank says that there’s no bailout in the Democrats’ financial reform bailout bill:

On MSNBC a few minutes ago, Rep. Barney Frank (D-MA) criticized Republican claims that the Democrats’ financial reform bill is a “bailout bill,” calling that assertion “triply phony.”

“There is the issue that the Republicans tried to say, ‘It’s a bailout bill,’ which is the phoniest issue I’ve seen in a very long time,” Frank said.

“That’s saying something,” said MSNBC’s Andrea Mitchell. “That’s saying a lot, because you’ve seen a lot of phony things in your time up there.”

“I have,” Frank said, “and this one is about triply phony.”

“No one will be bailed out,” Frank continued, saying that money couldn’t be used to bail out financial institutions until they’re dead. No more AIG-like bailouts, he said.

Well, if the guy:  who:  claims that he knew nothing about an on staff gay prostitute running a sex ring from his own home says that there’s no bailout in the bill, then we can take it to:  the:  bank.

Better yet, we could take it to Fannie Mae and Freddie Mac, both of which Barney Frank once assured us were completely financially sound and therefore, didn’t need to be reformed.

Yes, if a man with the observational powers of Barney Frank says it, it must be true!

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