Jun 24, 2009 10:14 PM
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New York, 6:27 AM
Wed Feb 10
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Remember when Bill O'Reilly and Barney Frank almost killed each other on national television? It was, without question, one of the greatest moments in world history, if only because it inspired this Lil' O'Reilly skit. Tonight they met again.
Tonight's interview, in comparison with the last one at least, was somewhat cordial and centered around Frank's calling on Fannie Mae and Freddie Mac to relax recently tightened standards on mortgages for condominium purchases.
In March, Fannie Mae said it would no longer guarantee mortgages on condos in buildings where fewer than 70 percent of the units have been sold, up from 51 percent, the paper said. Freddie Mac is due to implement similar policies next month, the paper said.
In a letter to the CEO's of both companies, Representatives Barney Frank, the chairman of the House Financial Services Committee, and Anthony Weiner warned that a 70 percent sales threshold "may be too onerous" and could lead condo buyers to shun new developments, according to the paper.
The legislators asked the companies to "make appropriate adjustments" to their underwriting standards for condos, the paper added.
So O'Reilly expressed his concerns, somewhat legitimate concerns we might add, that Frank's proposals would lead us down the same road that got us into so much financial trouble previously, and Frank explained his position. But what was probably the best thing about this entire interview was Frank looking as though he'd rather be any place else in the world other than on television with Bill O'Reilly. He actually picked his fingernails during much of the time O'Reilly spoke, but who can really blame him?
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