Bob Owens

The saddest truth in politics is that people get the leaders they deserve

Frank flees House

Written By: Bob - Nov• 28•11

Massachusetts liberal Barney Frank, who has done more damage to the U.S. economy than any other individual in Congressional history, is retiring.

Longtime Rep. Barney Frank, D-Mass., will announce his retirement Monday at an afternoon press conference in Newton, Mass.

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 was previously chairman of the House Financial Services Committee but is now ranking member since Democrats lost the majority in the 2010 midterm election.

The Dodd-Frank law, a contentious set of provisions that Republicans say add layers of regulatory burdens without preventing potential future meltdowns, was made in response to the near collapse of the banking industry in 2008. Among other actions, it created a Consumer Financial Protection Bureau to oversee access to banking products and required listing ratios of executive pay to median employee salaries.

Massachusetts has a storied history of electing big-spending control freaks that have wrecked the business climate in this nation. It remains to be seen why Frank is retiring… I would not be surprised if it was related to prostitution or unethical financial activity.

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5 Comments

  1. Neo says:

    The stunning part of the conference was learning – as part of casual conversation during breaks, meals, and other socializing time – how many rich people are planning for the eventual collapse of European society.

    Not stagnation. Not gradual decline. Collapse.

    It sounds like there is more than a euro-disaster afoot.

    Then on Wednesday, the Federal Reserve rocked financial markets by forcing America’s 31 largest U.S. banks to “stress test” balance sheets to determine their capability to withstand an 8% drop in the economy; which would cause home prices to plunge by 21%, and unemployment rate to jump to 13%.

  2. Wildman7316 says:

    Massachusetts lost (another) Congressional Seat after the 2010 Census and after the Redistricting it appears unlikely that Barney Frank could win the Primary Election much less the General.

  3. harp1034 says:

    He is over 70 years old. Maybe he decided to take a very nice retirement pension and enjoy is final years. With his money he can get young men as lovers.

  4. Junk Science Skeptic says:

    Perhaps there’s a job opening at Penn State? ;-)

  5. Mark L says:

    Probably wants to enjoy his senior citizen discounts without getting a lot of grief over taking them.

    I mean, what’s the use in ill-gotten gains if you can’t enjoy them Scrooge McDuck fashion?