Rep Barney Frank (D-MA): What we need is a lot more government intervention

(By Ed Morrissey, Hot Air) - Via The Right Scoop, Barney Frank offers Charlie Rose both a blizzard of buffalo dung and the hair of the dog in attempting to defend the Democrats’ economic policies. Frank tells Rose that the recovery was going great until the European crisis this spring — but notably avoids mentioning the nature of that crisis, which was skyrocketing debt. He also claims that private-sector employment has been growing, but that banks aren’t lending, which is choking off the recovery. Frank blames this on over-eager regulators, which he sees as a big problem that can only be solved by a massive purchase of bank stocks by the Treasury: