And this is the same crew that wants to raise taxes on anyone over $250K income - and this guy especially

    This posting came from Jim Miller on Politics.   I would love to hear his justification for this bit of legislation in light of the other major points the Dems are pushing.   Can you spell hypocrisy?  Thought you could.

Barney Frank Backs Continuing Subsidies for rich home owners.

Congress should extend increased loan limits on mortgages backed by Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB) that are set to expire at year end, the powerful chairman of the House Financial Service Committee said on Wednesday.

"I hope we do do it before we adjourn" for the congressional recess ahead of the November 2 mid-term elections, Democratic Rep. Barney Frank of Massachusetts Democrat said at a hearing on the future of housing finance.
. . . 
The higher limits, which vary by region, top out at $729,750 for single family homes in the most expensive parts of the country, except for Alaska and Hawaii, which have higher limits. Previously the cap was $417,000.

I rather like his honesty in saying that he hopes this passes before the election.

(I can understand arguments for encouraging home ownership, and arguments for helping the poor and maybe even the middle class buy homes.  I may not agree with them, but I can understand them.  But I have never been able to understand arguments for subsidizing home ownership among the rich.)

- 8:30 AM, 16 September 2010   [link]