November 28, 2011

Barney Frank - OUT!

I'd like to say not a moment too soon, but actually, this is several moments, several moves, too late;
Rep. Barney Frank (D-Mass.) will announce Monday that he is not seeking reelection, ending a 32-year career in the House.

Frank, 71, is the top Democrat on the Financial Services Committee and the architect, with former Sen. Chris Dodd (D-Conn.), of the sweeping Wall Street regulatory reform law enacted in 2010...

His legislative legacy is likely to be the Dodd-Frank financial reform bill that passed in 2010 in the wake of the Wall Street meltdown that sent the economy into a tailspin in 2008. Hailed by the Obama administration, the law has drawn sharp criticism in the Republican presidential nomination fight, and one leading contender, former Speaker Newt Gingrich (R-Ga.), even suggested that Frank be jailed, along with Dodd, for their support of the mortgage giants Fannie Mae and Freddie Mac in the lead-up to the financial crisis.
A crisis of his making (in significant part), with a 'cure' of his making, is sure to drive more problems in the future.  Sure, the guy had a quick wit, but he does not deserve praise for his supposed brilliance.  He was part of the problem in the financial mess the country finds itself in now. 
Related Posts Plugin for WordPress, Blogger...

Share This