"We’re Glad To See Barney Frank Retire".
We’re glad to see Barney Frank retire
By the Daily News
Not everyone will shed tears over the announcement of the retirement of U.S. Rep. Barney Frank of Massachusetts.
This announcement is long past due, but it is good to know that the long-term liberal Democrat will not be seeking re-election in 2012.
Frank, who was first elected to Congress in 1980, said at his announcement that his decision was largely based on congressional redistricting, which moved 325,000 new constituents into his district.
Frank’s career will be remembered as one of scandals regarding the housing market and his personal life, his partisan approach on issues and his outspoken opposition to military spending.
Personally, Frank will be remembered as one of the few openly gay members of Congress, a media hog and a man with a very sharp tongue. He will also be remembered for being involved in a gay prostitution scandal in the 1980s that involved a convicted drug dealer Frank was paying for sex. The man ended up running a prostitution ring from Frank’s home. Frank was reprimanded by the House for making misleading statements to a Virginia prosecutor on behalf of the prostitute - who Frank eventually put on his payroll - and fixing 33 parking tickets on his behalf.
Frank should have been kicked out of office then, but unfortunately he wasn’t.
What people will remember most about Frank is his failure to rein in the disaster at Fannie Mae and Freddie Mac while serving as chairman of the House Financial Services Committee. The government-backed mortgage giants were at the center of the housing bubble and the subsequent financial crisis.
In July 2008, Frank said in an CNBC interview, “I think this is a case where Fannie and Freddie are fundamentally sound, that they are not in danger of going under. They’re not the best investments these days from the long-term standpoint going back. I think they are in good shape going forward.”
One has to wonder what planet Mr. Frank had been living on.
It was later revealed that Frank had received campaign contributions from Fannie and Freddie totaling $42,350 between 1989 and 2008.
Conservatives rightfully claimed the donations from Fannie and Freddie influenced his support of their lending programs, and said Frank did not play a strong enough role in reforming the institutions in the years leading up to the economic crisis of 2008.
Essentially, Frank was derelict in his duty in regard to Fannie Mae and Freddie Mac and bears some responsibility for the current housing mess we are in. As a result of his failure to act on this issue, many Americans are upside down on their homes.
It was well past time for Mr. Frank to retire. He and his ego will not be missed.
By the Daily News
Not everyone will shed tears over the announcement of the retirement of U.S. Rep. Barney Frank of Massachusetts.
This announcement is long past due, but it is good to know that the long-term liberal Democrat will not be seeking re-election in 2012.
Frank, who was first elected to Congress in 1980, said at his announcement that his decision was largely based on congressional redistricting, which moved 325,000 new constituents into his district.
Frank’s career will be remembered as one of scandals regarding the housing market and his personal life, his partisan approach on issues and his outspoken opposition to military spending.
Personally, Frank will be remembered as one of the few openly gay members of Congress, a media hog and a man with a very sharp tongue. He will also be remembered for being involved in a gay prostitution scandal in the 1980s that involved a convicted drug dealer Frank was paying for sex. The man ended up running a prostitution ring from Frank’s home. Frank was reprimanded by the House for making misleading statements to a Virginia prosecutor on behalf of the prostitute - who Frank eventually put on his payroll - and fixing 33 parking tickets on his behalf.
Frank should have been kicked out of office then, but unfortunately he wasn’t.
What people will remember most about Frank is his failure to rein in the disaster at Fannie Mae and Freddie Mac while serving as chairman of the House Financial Services Committee. The government-backed mortgage giants were at the center of the housing bubble and the subsequent financial crisis.
In July 2008, Frank said in an CNBC interview, “I think this is a case where Fannie and Freddie are fundamentally sound, that they are not in danger of going under. They’re not the best investments these days from the long-term standpoint going back. I think they are in good shape going forward.”
One has to wonder what planet Mr. Frank had been living on.
It was later revealed that Frank had received campaign contributions from Fannie and Freddie totaling $42,350 between 1989 and 2008.
Conservatives rightfully claimed the donations from Fannie and Freddie influenced his support of their lending programs, and said Frank did not play a strong enough role in reforming the institutions in the years leading up to the economic crisis of 2008.
Essentially, Frank was derelict in his duty in regard to Fannie Mae and Freddie Mac and bears some responsibility for the current housing mess we are in. As a result of his failure to act on this issue, many Americans are upside down on their homes.
It was well past time for Mr. Frank to retire. He and his ego will not be missed.
Labels: General information
posted by KYJurisDoctor at 2:55 PM
0 Comments:
Post a Comment
<< Home