OMG! Shut Barney Frank up! Anybody see him vs Reich today?

[UtahJosh]

43. Consider the words he said carefully, please.

"Then later when Barney was going on about how it wasn't the 'size' of the banks that caused the problem, it was their 'debt'"

No, Frank said it was the debt that caused "too big to fail". That's actually correct.


"Robert made him look like a fool again by pointing out that with 'size' comes political influence, so Big Banks have both financial and political risks to deal with, not just 'debt'"

No, because Reich continually ignored the debt point that Frank was making (seemingly purposefully, but perhaps he didn't catch it?). Neither made the other "a fool", but there was a great deal of cross-talk and misunderstandings going on.

Size DOES equal political influence, sure, but "too big to fail" is a specific issue, as Frank said, and has to do with leverage and debt, something apparently too subtle for most to grasp.

Frank, being in the thick of things way back when he helped the Pelosi Congress bring us back from the brink, knows a thing or two about the issue.

I like Reich, but in this interview, he was ignoring the finer points in a big way (with a lot of catch phrases along the way).