Does Mr Frank have children or grand children? I ask because he is putting future tax payers on the hook.
See Barney in action.
See Barney in action.
Barney Frank and the US economy
- Thread starter Aaron Copland
- Start date
Because "The Commodity Modernization Act of 2000", created by a number of Republicans in the Mid-West - - - which gave birth to Enron "gaming" California's power grid during the recession of 2001, WTI trading overseas in London and Dubai with ZERO CFTC oversight and no position limits, AND $70 TRILLION in credit default swaps that traded OTC without any SEC regulation . . . dwarfs anything that Barney Frank did, or didn't do.
http://www.isda.org/
Yup.
And to top it off, Phil's wife Wendy was invited to take a position on the Enron board of directors in charge ( of all things ) the Audit Committee after she resigned from her position as head of the CFTC.
Nice "payback" for allowing Enron to be exempt from regulation in the trading of energy derivatives.
At least she and the board of directors agreed to collectively pay $13 million to settle claims of insider trading.
http://en.wikipedia.org/wiki/Commodity_Futures_Modernization_Act_of_2000
Ohio Republican House of Representative, Mike Oxley would say otherwise:
"Mr Oxley reached out to Barney Frank, then the ranking Democrat on the committee and now its chairman, to secure support on the other side of the aisle. But after winning bipartisan support in the House, where the bill passed by 331 to 90 votes, the legislation lacked a champion in the Senate and faced hostility from the Bush administration.
Adamant that the only solution to the problems posed by Fannie and Freddie was their privatisation, the White House attacked the bill. Mr Greenspan also weighed in, saying that the House legislation was worse than no bill at all.
âWe missed a golden opportunity that would have avoided a lot of the problems weâre facing now, if we hadnât had such a firm ideological position at the White House and the Treasury and the Fed,â Mr Oxley says.
When Hank Paulson joined the administration as Treasury secretary in 2006 he sent emissaries to Capitol Hill to explore the possibility of reaching a compromise, but to no avail.
http://www.ft.com/cms/s/0/8780c35e-7e91-11dd-b1af-000077b07658.html?nclick_check=1
Most of you are too young to remember this but Frank's boyfriend was busted for running a gay prostition ring out of Frank's apartment.
He was reprimanded by congress but was allowed to keep his seat.
He claimed that he was unaware that this boyfriend was running gay whores in and out of his house. lol.
John
http://www.washingtonpost.com/wp-srv/local/longterm/tours/scandal/gobie2.htm
http://www.time.com/time/magazine/article/0,9171,958598,00.html
"In late 1985, Gobie says, he began to use Frank's apartment and two other locations for prostitution. Frank knew about the prostitution all along, but it was never explicitly discussed, Gobie says.
"He knew exactly what I was doing," Gobie said. "It was pretty obvious. If he had to come home early {from work}, he would call home to be sure the coast was clear . . . . He was living vicariously through me. He said it was kind of a thrill, and if he had been 20 years younger he might be doing the same thing."
Frank denies that he knew, saying he learned from his landlord and kicked Gobie out in August 1987. Gobie supports this part of Frank's story. "
He was reprimanded by congress but was allowed to keep his seat.
He claimed that he was unaware that this boyfriend was running gay whores in and out of his house. lol.
John
http://www.washingtonpost.com/wp-srv/local/longterm/tours/scandal/gobie2.htm
http://www.time.com/time/magazine/article/0,9171,958598,00.html
"In late 1985, Gobie says, he began to use Frank's apartment and two other locations for prostitution. Frank knew about the prostitution all along, but it was never explicitly discussed, Gobie says.
"He knew exactly what I was doing," Gobie said. "It was pretty obvious. If he had to come home early {from work}, he would call home to be sure the coast was clear . . . . He was living vicariously through me. He said it was kind of a thrill, and if he had been 20 years younger he might be doing the same thing."
Frank denies that he knew, saying he learned from his landlord and kicked Gobie out in August 1987. Gobie supports this part of Frank's story. "
True, but you forget to add that Frank was being "blackmailed" by Steve Gobie. Two years later, Gobie tried unsuccessfully to sell his story to the Washington Post. He then gave the story to the Washington Times for nothing. No one seems to have given Gobie's claims any credibility.
Gee, I wonder why?
After an investigation, the Ethics Committee found no evidence that Frank had known of or been involved in the alleged illegal activity and dismissed all of Gobie's more scandalous claims.
Frank later won re-election in 1990 with 66% of the vote, and has won by even larger margins since.
Just the facts.
It seems odd that a Democrat is involved in a gay prostitution......I would expect that from conservatives like Ted Haggert, Larry Craig, Mark Foley etc.....