http://www.cnsnews.com/news/article/former-bbt-ceo-bankruptcy-us-mathematica
Yup just like Fannie and Freddie and the very same people that wouldn't listen then won't listen now.
Barney Frank should be removed from office. His Freddie and Fannie reality avoidance are costing us out the ass every quarter.
It's very obvious he knows nothing (or doesn't cares at all) about keeping this country financially sound.
I don't believe the bankruptcy is 25 years away either. I'm pretty sure it's walking in the backdoor that the FED opened up for it.
John Allison, who for two decades served as chairman and CEO of BB&T, the nation's 10th largest bank, told CNSNews.com it is a “mathematical certainty” that the United States government will go bankrupt unless it dramatically changes its fiscal direction.
“I was on a committee, a Financial Services Roundtable, for nine years trying to do something about Freddie Mac and Fannie Mae,” said Allison.
“You couldn’t help but see it coming,” he said. “You ran the numbers, particularly the last several years, and it was mathematically certain Freddie and Fannie were going bankrupt.”
“We met with Congress. We met with [House Financial Services Chairman] Barney Frank and [Senate Banking Chairman] Chris Dodd and they absolutely wouldn’t see it,” said Allison.
