Frank Defends Immigrants in Housing Debate
Rep. Barney Frank (D-Mass.) took a podium before a banking convention this morning with the clear goal of alleviating industry fears over the Democrats’ plans
Jul 31, 2020297.4K Shares4M Views
Rep. Barney Frank (D-Mass.) took a podium before a banking convention this morning with the clear goal of alleviating industry fearsover the Democrats’ plans to reform the finance industry this year.
But Frank also spent a good deal of his floor time dispelling the notion that the housing crisis is somehow the fault of immigrantsfor taking out loans they couldn’t afford — a myth fueling some conservatives’ calls for an immigration crackdown.
Rather, Frank argued, policymakers should be encouraging home-ownership for legal immigrants, who contribute extensively, he said, to the entrepreneurial spirit of the country.
“Lazy people don’t become immigrants,” said the chairman of the House Financial Services. “It’s the risk-takers that immigrate.”
Rhyley Carney
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