Barney Frank Provides the Best Reason Yet to Not Bail Out the Auto Industry

Barney Frank, today:

Quoting Barney Frank:

"The House is ready to [bail out automakers]," said Democratic Rep. Barney Frank of Massachusetts, chairman of the House Financial Services Committee.  "There’s no downside to trying."

Barney Frank, 3 months before Fannie Mae and Freddie Mac collapsed:

Quoting Barney Frank:

Fannie and Freddie are fundamentally sound, [they] are not in danger of going under... their prospects going forward are very solid.

With the endorsement of Barney Frank, what could possibly go wrong?