Kudlow reports Barney Frank has changed his mind about the two government funded housing agencies, Fannie Mae and Freddie Mac. From being a supporter, Frank has switched to being an opponent who says:
I hope by next year we’ll have abolished Fannie and Freddie. It was a great mistake to push lower-income people into housing they couldn’t afford and couldn’t really handle once they had it. I had been too sanguine about Fannie and Freddie.
It is rare to see a politician do a 180 degree reversal to oppose a policy of which he was a great public supporter. I am impressed, Chairman Frank. You've shown some class.
