Tuesday, November 29, 2011


Barney Frank, ranking minority member on the house Financial Services Committee has announced he will not seek re-election in the upcoming election. In his many years of service to the country in government, Representative Frank has certainly made a mark on the landscape of the country, both financially and politically.

Despite his long and somewhat storied career in politics, ultimately Frank's legacy will be in his involvement in the economic crash we are currently experiencing; specifically in the issues with Fannie May and Freddy Mac, the failure to oversee Wall Street, the push to end the unfair practices by the financial sector towards granting loans to minority communities (which resulted in loan application abuses in order to reach acceptable loan percentages) and the lack of oversight of the housing bubble indicated by the creation of default swap products that devistated many financial institutions to the point of near elimination.

However the history books judge his involvement in the economic crisis, or any other portion of his 30 year political career....they will all pale in comparison to the effect his retirement will have upon the Financial Services Committee......

Ranking Minority Member Maxine Waters.

I could go into a 200 word rant about the political buffoonery, her complete lack of political acumen of Ms. Waters over the years, but let me just quote something from her memo on Rep. Franks retirement as testimony......

“I will miss Barney deeply. I will miss his wit, his sense of humor.....

May I submit to the ranking chair of the

Financial Services Committee

of the House of Representatives....

wit and a sense of humor is virtually the same thing.

Good Lord help us.... we have 12 months to unload our stocks.

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