I still have friends asking me about the major events of the bailout -- what happened, why did it matter? -- and it occurred to me that not everybody had been glued to CNBC throughout the crisis. About the same time, someone said to me that they loved, for whatever reason, listening to Barney Frank and that they'd love to have Barney Frank personally explain the crisis to them.
Well! Barney Frank to the rescue! I'll hand it over to the Congressman here. Be sure to catch the fourth video, which is the funniest.
The Fed flexes its muscles! Fed Chairman Ben Bernanke called Barney Frank into his office to talk about bailing out insurance giant AIG, which had been teetering on the verge of collapse. "I asked Mr. Bernanke if he had $85 billion to do that, he said he had $800 billion to do that." WATCH:
The government allows Lehman Brothers to fail! Barney Frank tells Charlie Rose that this was the single example of the Bush administration sticking to its professed commitment to free enterprise. "We have consequences that we have to deal with and there are often no good choices...." WATCH:
The White House sends a bailout bill to Congress! The debate begins -- will Congress reject it out of hand? Will they make changes? Will Democrats and Republicans be able to come together? "The president sent in a bill that was kind of a Dick Cheney wish list." WATCH:
The bailout vote fails in the House (and it turns out Barney Frank is very funny wokka wokka)! When Barney Frank was asked if Speaker Pelosi's harsh speech could have been the reason that not enough Republicans voted for the bill. "Give me those 12 people's names and I will go talk uncharacteristically nicely to them." WATCH:
The (second) revised bailout passes! "But now we have to perform more serious reform." WATCH:
Bonus: Barney Frank on the Factor! Bill O'Reilly screamed at Barney Frank and Barney Frank attempts to have a fact-based conversation. "Your stupidity gets in the way of rational discussion." WATCH:
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