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Showing posts with label People Frank Barney. Show all posts
Showing posts with label People Frank Barney. Show all posts

Wednesday, November 30, 2011

Kevin Dayhoff – The Tentacle: Good Riddance Barney

Good Riddance Barney

November 30, 2011



In an historic, extraordinary step in the proper direction for the economic future of our great country, Rep. Barney Frank (D., MA) announced Monday that he is retiring from Congress.

Representative Frank’s retirement bookends another step in the right direction – the retirement of Sen. Christopher Dodd (D., CT) on January 3, 2011.

Frank’s retirement at 71 represents a growing tsunami of liberal lawmakers headed for the door and not seeking to run for another term. He was first elected to the House in 1980 and chaired the House Financial Services Committee from 2007 to 2011… http://www.thetentacle.com/ShowArticle.cfm?mydocid=4774

[20111130 TTpubverseo Good Riddance Barney]

Barney Frank – by Kevin Dayhoff November 29, 2011

*****

Monday, November 28, 2011

Americans for Limited Government: Rep. Barney Frank retires, ALG responds: "Good riddance!"

For Immediate Release                                                      Contact: Robert Romano (press); Rebekah Rast (TV & radio)
Nov. 28, 2011                                                                                                                 Phone: (703) 383-0880  

Rep. Barney Frank retires, ALG responds: "Good riddance!"

Nov. 28, 2011, Fairfax, VA—Americans for Limited Government President Bill Wilson today in a statement responded to Rep. Barney Frank's decision not to seek reelection in 2012:

"Barney Frank has been a staunch defender of Fannie Mae and Freddie Mac throughout the buildup of the housing bubble, even accusing critics of exaggerating the risks posed to the Government Sponsored Enterprises in the 2000's.  Under legislation Frank voted for in 1992, Fannie and Freddie only needed $900 of capital behind a $200,000 mortgage they guaranteed

"From 2007 until the end of 2010, Frank was the chairman of the House Financial Services Committee, and when the crisis hit was blindsided by the bankruptcy of the GSEs.  Frank led the House's efforts to bail out Fannie and Freddie and other financial institutions in 2008.  To his departure, American taxpayers say good riddance.

"When the time came to reform the financial system, Frank excluded Fannie and Freddie from his signature legislation, even though the GSEs were ground zero of the financial crisis.  Frank ignored the warning signs of the crisis, and then when it hit, did everything in his power to cover for Fannie and Freddie.  Meaningful financial reform would have been to unwind government involvement in housing finance, instead of affirming it.

"Frank leaves behind a disastrous record that will have consequences for years if not decades to come.  His departure comes about twenty years too late."

Interview Availability: Please contact Rebekah Rast at (703) 383-0880 or at rrast@getliberty.org to arrange an interview with ALG President Bill Wilson.


###

Americans for Limited Government is a non-partisan, nationwide network committed to advancing free market reforms, private property rights and core American liberties. For more information on ALG please call us at 703-383-0880 or visit our website atwww.GetLiberty.org.


Americans for Limited Government: Rep. Barney Frank retires, ALG responds: "Good riddance!"
*****

The Washington Post PostPolitics Afternoon Edition: Barney Frank leaves historic, fiery legacy

Earlier on Monday, November 28, 2011:

Rep. Barney Frank will not seek re-election

Rep. Barney Frank (D-Mass.) will not seek re-election in 2012, according to a statement from his office. The 16-term Democrat will make an announcement this afternoon. 

Read more at:
http://www.washingtonpost.com/politics

Or visit washingtonpost.com.

The Washington Post





Monday, November 28, 2011
Politics Afternoon Edition

The Washington Post PostPolitics Afternoon Edition: Barney Frank leaves historic, fiery legacy

HEADLINES

  1. Frank leaves historic, fiery legacy

    In announcing retirement, the 16-term congressman from Massachusetts may be best remembered for his work on fiscal policy and promotion of gay rights.
    » Read full article
  2. Is Frank a bellwether for jumpy Democrats?

    The party isn't yet seeing an avalanche of retirements, but the next few months will determine whether Democrats believe they can regain the House majority.
    » Read full article
  3. What the Union Leader endorsement means for Newt Gingrich

    Winning the support of New Hampshire's largest newspaper matters. But how much will it help?
    » Read full article
  4. Obama pushes for better digital records

    The White House orders are part of Obama's "We Can't Wait" campaign.
    » Read full article
  5. Fact-checking Grover Norquist on taxes

    According to the anti-tax advocate, spending always goes up after Democrats cut a deal to increase taxes. Really?
    » Read full article

QUOTE OF THE DAY

"I did not think I lived a good enough life to see Newt Gingrich as the Republican nominee... He would be the best thing to happen to Democrats since Barry Goldwater."



Q&A DISCUSSIONS

Q: Do you feel that there is a conflict of interest if a justice's spouse (Thomas, in this case) was lobbying either for or against the case being brought before the court?
John Steele:
We have to be careful when using a spouse's political activities or views to disqualify a judge. Spouses are permitted to have political lives, too. Judge Reinhardt, in the 9th Circuit, is married to an ACLU lawyer who had been involved in the same sex marriage case, which was then assigned to Judge Reinhardt. He didn't recuse himself and I think he was correct not to do so.



MULTIMEDIA

Mike Ross
Barney Frank is not alone. A number of long-serving members of Congress won't seek reelection in the upcoming cycle.

*****

Saturday, July 30, 2011

Washington Examiner: Dodd-Frank's winners: Revolving-door regulators by Timothy P. Carney


Washington Examiner




It may not prevent another bailout or protect consumers from dangerous financial products, but the Dodd-Frank financial regulation law -- now one year old -- has already benefited one group of people: the government officials who wrote and implemented the law before cashing out as lobbyists or consultants for Wall Street, hedge funds and big banks.

The top staff lawyers in charge of crafting the legislation in both chambers of Congress have both left Capitol Hill for K Street, as has a Securities and Exchange Commission staffer who helped implement the law. This is "private-sector job creation, Obama-style," as blogger Ira Stoll drolly notes.

The Great Wall Street Cashout is another example of how President Obama's agenda of bigger government -- and congressional Democrats' style of leaving the key details up to executive-branch regulators -- accelerates the revolving door and breeds crony capitalism.

Dodd-Frank was supposed to prevent future bailouts, tamp down on excessive risk taking by financial institutions and, through a new agency called the Consumer Financial Protection Bureau, protect regular people from predatory lenders or harmful and complex financial products… http://washingtonexaminer.com/politics/2011/07/dodd-franks-winners-revolving-door-regulators/116494

[…]

If you're looking for Dodd-Frank's big winners, they're easy to spot: They're the ones passing through the revolving door.

The big losers, according to a Bloomberg Government Study: 23 of the largest public financial companies in the United States face $22 billion in additional expenses and lost revenue, and likely a good deal more once all the regulations are put in place.

Timothy P. Carney, The Examiner's senior political columnist, can be contacted at tcarney@washingtonexaminer.com. His column appears Monday and Thursday, and his stories and blog posts appear on ExaminerPolitics.com.



Bus Econ Dodd-Frank, Bus Econ 2011, Bus Econ, Bus Econ over-regulation, Governance regulations, Bus Econ Banking, Business Banking, Journalists Carney Timothy
*****

Saturday, May 08, 2010

Smoking Gun: Frank Memo Exposes Dem Campaign To Protect Financial Crisis Culprits


House Republican Leader John Boehner - - Smoking Gun: Frank Memo Exposes Dem Campaign To Protect Financial Crisis Culprits
GOP Leader: “The Only Reason For Democrats To Continue Coddling Fannie Mae And Freddie Mac Is To Protect Themselves, Not American Taxpayers.”

Washington, May 6 -

Just hours before one of the government mortgage companies responsible for triggering the financial meltdown reported that it will need another taxpayer bailout, one of its chief enablers on Capitol Hill, House Financial Services Chairman Barney Frank (D-MA), issued a memo urging the Obama Administration to circle the wagons.

For years, Republicans consistently raised red flags about Fannie and Freddie’s financial condition and proposed responsible reforms only to be thwarted by Democrats such as Chairman Frank who have deep political ties to the worst offenders. These same powerful Democrats are now pushing for a financial reform bill that doesn’t even address the need to fix these government mortgage companies. Now, with Freddie Mac set to ask American taxpayers for another massive bailout check, Chairman Frank is pleading with fellow Democrats to hold the line.

According to Politico, Chairman Frank’s memo – which was not written for public consumption expresses concern “that the GOP is scoring points with its attacks on housing giants Fannie Mae and Freddie Mac, and he’s urging the White House to fight back.” House Republican Leader John Boehner (R-OH) responded to Chairman Frank’s memo and Washington Democrats’ coordinated effort to protect Fannie Mae and Freddie Mac:

“After freely enabling the high-risk lending that allowed Fannie Mae and Freddie Mac to run our economy into the ground, Washington Democrats are shamelessly propping up their political benefactors at taxpayer expense. The only reason for Democrats to continue coddling Fannie Mae and Freddie Mac is to protect themselves, not American taxpayers. But with Americans clamoring for an end to backroom deals and permanent bailouts, Chairman Frank and Washington Democrats have nowhere left to hide.”

A must-read editorial in today’s Wall Street Journal notes how “reforming the financial system without fixing Fannie and Freddie is like declaring a war on terror and ignoring al Qaeda”:

“One sign that the White House financial reform is less potent than its advertising claims is that it doesn't even attempt to reform the two companies at the heart of the housing mania and panic, Fannie Mae and Freddie Mac.

Unreformed, they are sure to kill taxpayers again. Only yesterday, Freddie said it lost $8 billion in the first quarter, requested another $10.6 billion from Uncle Sam, and warned that it would need more in the future. This comes on top of the $126.9 billion that Fan and Fred had already lost through the end of 2009. The duo are by far the biggest losers of the entire financial panic—bigger than AIG, Citigroup and the rest.

“From the 2008 meltdown through 2020, the toxic twins will cost taxpayers close to $380 billion, according to the Congressional Budget Office's cautious estimate. The Obama Administration won't even put the companies on budget for fear of the deficit impact, but it realizes the problem because last Christmas Eve it raised the $400 billion cap on their potential taxpayer losses to . . . infinity. Moreover, these taxpayer losses understate the financial destruction wrought by Fan and Fred.”

In an editorial last week, The Christian Science Monitor asked the obvious question:

How can Wall Street itself be reformed without a Fannie-Freddie overhaul? The US mortgage market remains the second largest market for securities in global finance. The two GSEs represent nearly half of the residential mortgage market. And even as Mr. Obama promises no repeat of the big bailouts of 2008-09, he’s still putting money into these big players.”

Much like the backroom deal-laden health care law President Obama and the Democratic Congress forced upon a nation that didn’t want it, President Obama’s Wall Street bailout bill contains a host of special-interest carve-outs and loopholes designed to favor Democrats’ most powerful campaign contributors, bureaucrats, and political allies. Today’s Politico takes a look out how “when Democrats set out to reform Wall Street, they also included a few provisions that benefit their allies in the labor movement.” To learn more, visit the GOP Leader Blog.

House Republicans have listened to the American people and introduced comprehensive financial reform legislation that would end the endless bailouts, reform Fannie Mae and Freddie Mac, and hold Wall Street accountable. For more information on the House Republican plan,
click here.

http://republicanleader.house.gov/News/DocumentSingle.aspx?DocumentID=184451

*****

Kevin Dayhoff Soundtrack: http://kevindayhoff.blogspot.com/ = http://www.kevindayhoff.net/ Kevin Dayhoff Art: http://kevindayhoffart.blogspot.com/ or http://kevindayhoffart.com/ = http://www.kevindayhoff.com/ Kevin Dayhoff Westminster: http://kevindayhoffwestgov-net.blogspot.com/ or http://www.westgov.net/ = www.kevindayhoff.org Twitter: https://twitter.com/kevindayhoff Twitpic: http://twitpic.com/photos/kevindayhoff Kevin Dayhoff's The New Bedford Herald: http://kbetrue.livejournal.com/ = www.newbedfordherald.net Explore Carroll: www.explorecarroll.com The Tentacle: www.thetentacle.com

Sunday, March 21, 2010

Protester Disrupts House Health Care Deliberation

WASHINGTON (AP) ―Protester Disrupts House Health Care Deliberation - - Mar 21, 2010 2:00 pm US/Eastern
http://wjz.com/politics/Pep.rally.health.2.1578457.html

A Democratic lawmaker says a protester stood up in the House gallery, yelled "Kill the bill" and was cheered by Republicans.

Angry demonstrators opposed to the health care bill gathered outside the Capitol on Sunday. Democratic Rep. Barney Frank of Massachusetts says that one stood up in the House gallery and shouted, "Kill the bill. The people don't want this."

As the man was yelling and ushers tried to escort him out, several Republicans stood up on the House floor and cheered.

Said Frank: "I've never seen this -- for the Republicans to stand up and cheer the guy on." Frank called the Republicans "clowns."

Read the rest here: http://wjz.com/politics/Pep.rally.health.2.1578457.html

*****

Kevin Dayhoff Soundtrack: http://kevindayhoff.blogspot.com/ = http://www.kevindayhoff.net/ Kevin Dayhoff Art: http://kevindayhoffart.blogspot.com/ or http://kevindayhoffart.com/ = http://www.kevindayhoff.com/ Kevin Dayhoff Westminster: http://kevindayhoffwestgov-net.blogspot.com/ or http://www.westgov.net/ = www.kevindayhoff.org Twitter: https://twitter.com/kevindayhoff Twitpic: http://twitpic.com/photos/kevindayhoff Kevin Dayhoff's The New Bedford Herald: http://kbetrue.livejournal.com/ = www.newbedfordherald.net Explore Carroll: www.explorecarroll.com The Tentacle: www.thetentacle.com

Saturday, April 18, 2009

Tapscott Congress ignored regulators' repeated warnings about problems at Fannie, Freddie


Examiner Editorial Section Sunday

Congress ignored regulators' repeated warnings about problems at Fannie, Freddie

April 18, 2009

Examiner Editorial Section Sunday

Examiner Editorial

Congress ignored repeated warnings it received from federal regulators about problems at Fannie and Freddie..
Read the full story

Michael Reagan, Examiner Columnist
Barack Obama's homeland security chief says conservatives who support the 10th Amendment are "rightwing extremists."
Read the full story.

Mark Tapscott, Examiner Editorial Page Editor
Those Tea Party Protestors display some of the same spirit Edmund Burke saw in Americans in 1775.

Read the full story.
Fresh and insightful opinion from Tapscott's Copy Desk, by the Washington Examiner's Editorial Page Editor Mark Tapscott. Got a tip or an oped to place? Send an e-mail to mark.tapscott@gmail.com.

Sign up for the Washington Examiner Opinion Feed

Sign up for the Tapscotts Copy Desk RSS Feed

Sign up for Tapscotts Copy Desk Email Alerts

20090418 SDOSM Examiner Editorial Section Sunday

Kevin Dayhoff www.kevindayhoff.net http://kevindayhoff.blogspot.com/

Wednesday, April 08, 2009

“Harvard student takes on Rep. Frank”

“Harvard student takes on Rep. Frank” http://tinyurl.com/ce6tdv

http://www.youtube.com/watch?v=hgTUxCpYP2w






Fox 25 My Fox Boston http://www.myfoxboston.com/ often is chock full of good content and is one of my regular stops when I’m surfing the net for news.

In this clip from last Monday, April 6, 2009, “Fox 25 My Fox Boston” has captured an exchange between “Rep. Barney Frank (D-Mass) and a conservative Harvard law student…”

CAMBRIDGE, Mass. (myfoxboston) - It all started with a question: "How much responsibility, if any, do you have for the financial crisis?"

Rep. Barney Frank (D-Mass) and a conservative Harvard law student debated over how Frank should have handled his role as the House Chairman of the Financial Services Committee. Frank was at Harvard University for a speech at the Kennedy School of Government.

Read the entire Fox 25 My Fox Boston http://www.myfoxboston.com/ story here: http://tinyurl.com/ce6tdv

And oh, Rep. Frank’s explanation of events is inconsistent with much of my reading. In October 2008, I wrote a three-part series, called “Congress and the Rattlesnake” in The Tentacle. Part 3 was published on October 3, 2008 – and it addresses some of the history of the ultimate subprime mortgage economic crash of September 18, 2008… It may be found here: http://www.thetentacle.com/ShowArticle.cfm?mydocid=2806

And – while you are there, check out some of these video/stories also on Fox 25 My Fox Boston:

Rep. Frank calls Scalia a 'homophobe'
Massachusetts Rep. Barney Frank called Supreme Court Justice …
Frank assails AIG bonuses
Rep. Barney Frank charged Monday that a decision by fin…
Frank hopes to draft financial overhaul
The chairman of the House Finance Committee says he hopes to …
Frank: No Fannie, Freddie Bonuses
A key lawmaker is calling on the federal government to cancel …
Bill O'Reilly on FOX25
FOX25's Maria Stephanos interviewed Bill O'Reilly from FOX's …

www.kevindayhoff.net
http://www.myfoxboston.com/dpp/news/politics/local_politics/Frank_pushing_for_financial_changes_040609

20090406 My Fox Boston Harvard student takes on Rep Frank
Kevin Dayhoff www.kevindayhoff.net http://kevindayhoff.blogspot.com/

Thursday, March 26, 2009

TimesWatch Tracker: Our Latest Analysis Thursday, March 26, 2009




TimesWatch Tracker: Our Latest Analysis Thursday, March 26, 2009

TimesWatch Tracker Documenting and Exposing the Liberal Agenda of the New York Times

Amazing Omissions in Times Interview of Barney Frank
A Times writer manages to talk to Barney Frank about Fannie Mae, Freddie Mac, and an SNL skit without bringing up a single challenging question.

Free-Market Radical From Czech Republic "Embarrasses" EU Again
Once again, the Times chides a Czech Republic leader's infuriating embrace of free-market principles.

Striving to Paint a More Positive Picture of a Cop-Killer
Lovelle Mixon killed four Oakland police officers -- but was he also a victim of the California penal system?

Amazing Omissions in Times Interview of Barney Frank

http://www.timeswatch.org/articles/2009/20090326153108.aspx

A Times writer manages to talk to Barney Frank about Fannie Mae, Freddie Mac, and an SNL skit without bringing up a single challenging question.

Posted by: Clay Waters 3/26/2009 3:40:56 PM

The Times' special Deal Book section on Thursday featured a Q&A with Rep. Barney Frank by Times contributing writer Cyrus Sanati, "
Rep. Barney Frank's To-Do List for Changing Wall Street."

“Wall Street is bracing for a regulatory tsunami to make its way up from Washington. Lawmakers are considering sweeping changes to the Depression-era securities laws and regulatory agencies that failed to prevent the economic downturn.

“As these new proposals gain momentum, Representative Barney Frank, the Massachusetts Democrat who is chairman of the House Financial Services Committee, will have a central role in influencing the size and scope of these new regulations.”

That's the lead-in to an extremely friendly interview (described as "edited and condensed excerpts from the discussion") with the liberal Democrat Frank, who heads up the House Financial Services Committee and will have a hand in creating new regulations and laws on executive compensation.

Not one of Sanati's 10 questions were critical of Frank, and none delved into his controversial ties and strong defense in the past of Fannie Mae and Freddie Mac, the government-sponsored mortgage lending companies, in their quest to ease up requirements for mortgage loans in the name of "affordable housing," which many experts think contributed to the mortgage crisis.

Sanati even asked Frank a question about Fannie and Freddie, but ignored Frank's previous support of the entities, captured by the Times itself in September 2003. At a hearing, Frank lectured that "these two entities, Fannie Mae and Freddie Mac, are not facing any kind of financial crisis....The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing."

Oops.

But Sanati ignored all that and painted Franks as some kind of Freddie and Fannie reformer:

“Sanati: Subprime mortgages played a large part in the downturn, as well as the need for the government to rescue the mortgage financing giants Freddie Mac and Fannie Mae. In an op-ed in the Financial Times in 2007, you said, “The subprime crisis demonstrates the serious negative economic and social consequences that result from too little regulation.” What have you done since to tighten regulation of that market?”

In Frank's answer, Sanati let the congressman get away with passing the buck to the Bush administration:

“Frank: We passed shortly thereafter a bill that would prevent the type of subprime mortgages that went bad. Unfortunately, it never passed the Senate. I am returning to that now. Earlier in 2007 we passed legislation to improve the regulation of Freddie Mac and Fannie Mae, but the Senate didn’t get on to passing it until July 2008 and by that time it was too late. The problem was with George Bush in power. It was hard to get the approval we needed for the degree of regulation that we thought was necessary.”

Saturday Night Live mocked Frank in a skit that aired on the network on the night of October 4, 2008, putting some blame on Frank for the banking crisis, The official online version of the skit was later controversially http://pajamasmedia.com/rogerlsimon/2008/10/07/nbc-reactionaries-ban-inconvenient-snl-sketch/ redacted by NBC in a way that removed all mention of Frank. Bizarrely, Sanati talks about a Frank' impression on SNL -- but another one, one featuring a Frank impressionist chairing the Big 3 auto hearings, which aired on November 22, 2008 and didn't attract nearly as much attention as the banking skit.

“Sanati: Many Americans have been following your committee’s hearings -- so much so that even “Saturday Night Live” did a skit about them, featuring you grilling the Big Three automakers. How do you think they did in impersonating you?”

“Frank: I am impressed with Fred Armisen’s range given that he impersonates me and Barack Obama, so I guess that’s, um, sort of interesting. The only time I was upset was when they had someone doing me that was really fat.”


20090326 TimesWatch Tracker for March 26 2009


Kevin Dayhoff www.kevindayhoff.net http://kevindayhoff.blogspot.com/