Rep. Barney Frank has decided to leave congress. Simply put, Frank has done more to hurt the economy than just about anybody else. When it comes to economics, he is as stupid as meth user after drinking a 18 pack of beer.
From Fox News: Longtime Rep. Barney Frank, D-Mass., announced Monday he is not seeking re-election, saying that redistricting has made it too strenuous to continue to campaign.
The 16-term lawmaker, whose name is emblazoned on the banking reform law that passed Congress last year, had long been rumored to be ready for retirement. He said Monday that he actually decided "tentatively" to retire after passage of the law, serving out one more term, but when Republicans won the 2010 midterm he decided he didn't want to be a lame duck so didn't announce his plans until now.
Frank said he now wants to do some combination of writing, teaching and lecturing, but will not become a lobbyist. http://www.foxnews.com/politics/2011/11/28/barney-frank-to-announce-retirement/?test=latestnews
The 16-term lawmaker, whose name is emblazoned on the banking reform law that passed Congress last year, had long been rumored to be ready for retirement. He said Monday that he actually decided "tentatively" to retire after passage of the law, serving out one more term, but when Republicans won the 2010 midterm he decided he didn't want to be a lame duck so didn't announce his plans until now.
Frank said he now wants to do some combination of writing, teaching and lecturing, but will not become a lobbyist. http://www.foxnews.com/politics/2011/11/28/barney-frank-to-announce-retirement/?test=latestnews
Karl Rove nails it: Mr. Frank’s departure in January 2013 will remove from the House one of its more offensive members. Until then, this petulant, abrasive and downright nasty Congressman will keep making his presence known.
However, it is unlikely that Mr. Frank is leaving for the reason he should depart Congress: out of shame for all he did to stop reform of Fannie and Freddie while there was still time to avert the disaster that almost took down the American economy.
In 2003, he called Fannie and Freddie “fundamentally sound financially” and accused the Bush Administration of trying to “exaggerate a threat of safety… [to] conjure up the possibility of serious financial losses to the Treasury, which I do not see."
A year later, he said talk of financial problems at Fannie and Freddie were “an artificial issue created by the administration...I don't think we are in any remote danger here."
In 2007, as Chairman of the House Financial Services Committee and just as Fannie and Freddie – overleveraged and stuffed to the gills with risky mortgages they’d encouraged and facilitated – were about to go over the cliff, Mr. Frank attacked President George W. Bush’s call for reform as “inane.”
Yet when Fannie and Freddie went belly up in the fall of 2008, Mr. Frank voted for the same Bush Administration reforms that could have averted the bankruptcies of Fannie and Freddie.
Why did Mr. Frank oppose giving these two gigantic financial institutions the same scrutiny as a local bank, a neighborhood savings and loan or a community credit union?
Fannie and Freddie provided “grease” for the Democratic political machine through hundreds of millions in charitable contributions to left wing community and advocacy groups that are critical to Democratic get-out-the-vote efforts. Read more: http://www.foxnews.com/opinion/2011/11/28/real-reason-barney-frank-should-quit/#ixzz1f4O0R2fr
Good lord, what can he lecture about? How to run a house of prostitution? Well, I suppose he would be a perfect fit in Nevada for that one.
However, it is unlikely that Mr. Frank is leaving for the reason he should depart Congress: out of shame for all he did to stop reform of Fannie and Freddie while there was still time to avert the disaster that almost took down the American economy.
In 2003, he called Fannie and Freddie “fundamentally sound financially” and accused the Bush Administration of trying to “exaggerate a threat of safety… [to] conjure up the possibility of serious financial losses to the Treasury, which I do not see."
A year later, he said talk of financial problems at Fannie and Freddie were “an artificial issue created by the administration...I don't think we are in any remote danger here."
In 2007, as Chairman of the House Financial Services Committee and just as Fannie and Freddie – overleveraged and stuffed to the gills with risky mortgages they’d encouraged and facilitated – were about to go over the cliff, Mr. Frank attacked President George W. Bush’s call for reform as “inane.”
Yet when Fannie and Freddie went belly up in the fall of 2008, Mr. Frank voted for the same Bush Administration reforms that could have averted the bankruptcies of Fannie and Freddie.
Why did Mr. Frank oppose giving these two gigantic financial institutions the same scrutiny as a local bank, a neighborhood savings and loan or a community credit union?
Fannie and Freddie provided “grease” for the Democratic political machine through hundreds of millions in charitable contributions to left wing community and advocacy groups that are critical to Democratic get-out-the-vote efforts. Read more: http://www.foxnews.com/opinion/2011/11/28/real-reason-barney-frank-should-quit/#ixzz1f4O0R2fr
Good lord, what can he lecture about? How to run a house of prostitution? Well, I suppose he would be a perfect fit in Nevada for that one.
A lot of people are hurting badly because of Barney frank. If he wasn't in the House, he would have had his butt thrown in jail.
So good bye Barney, and don't let the door hit you in your big fat ass.
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