"Frank: Romney made 'literally no sense' on Dodd-Frank" By Peter Schroeder at the Hill

[applegrove]

Frank: Romney made 'literally no sense' on Dodd-Frank

By Peter Schroeder at the Hill

http://thehill.com/blogs/on-the-money/banking-financial-institutions/260579-frank-romney-made-literally-no-sense-on-dodd-frank

"SNIP...................................................

The rules for what exactly constitutes a qualified mortgage are still being written by regulators, and Romney suggested that that lack of clarity was keeping banks from lending and holding back the housing market.

"It's been two years! We don't know what a qualified mortgage is yet, so banks are reluctant to give loans," he said.

But Frank pointed out that the rules for qualified mortgages are not retroactive, so they should not be holding back lending currently.

"There is no basis for the assertion that the future promulgation of a test that has no retroactivity is in any way retarding current lending," he said.

...................................................SNIP"

[Angry Dragon]

1. Willard .......... The Great American Liar and Fraud

[Major Hogwash]

2. Of all of Mitt's stupid answers, that was the most convoluted one of all.

I started laughing when he started talking about it as if he knew what he was saying.
Mitt obviously was using the strategy of "if you can't dazzle them with brilliance, then baffle them with bullshit."

Mitt didn't know what the fuck he was talking about.