Posted by: chronicler55 | November 2, 2008

Barney Frank is still in congress–Why?

 It is common knowledge that Barney Frank was involved in a long term affair with a high ranking official who worked for Fannie Mae.  The affair went on for 11 years while Frank sat on the House Banking Committee which was responsible for the regulation of the mortgage giant. This is a conflict of interest that would have ruined any Republican who has proven to be involved anything so unsavoury.

Fox News’ Bill Sammon reports that a top Republican House aide told him, “He writes housing and banking lawas and his boyfriend is a top executive at a firm that stands to gain from those laws? And no media ever take note?” 

Critics charge that such programs led to the mortgage meltdown and the recent government takeover of Fannie Mae and Freddie Mac “are blamed for spreading bad mortgages throughout the private financial sector.” 

 Franks affair with Moses went on from 1987-1998. In 1994 Frank blocked a Clinton administration attempt to regulate Fannie Mae. He also blocked more recent attempts to regulate the mortgage giant under the Bush administration.

My first reaction–Yuck. My second–indict. 

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