Wall Street Reform Architect?

Yeah, that’s one way to describe him. There are plenty of others. Check out the lead:

“Representative Barney Frank, the outspoken, witty Democrat closely tied to the 2008 U.S. bank bailout, faces a tough re-election battle after 15 terms in office at a time when incumbency itself is a liability.”

To put this in perspective, I could describe George Bush as the quirky, offbeat architect of reform and change in Iraq. One wonders how that lead might be received. Certain journalists either don’t recognize the consequence of word choices or don’t think their readers recognize it. I’m not saying the lead should read “Barney Frank, the belligerent representative from Massachusetts know for his obnoxious attitude towards dissent and closely associated with the housing crash of 2008…” but that would be just as accurate. The job of the journalist reporting the story is not to take a position at all. It seems to have become a lost art.

My favorite sentence is this one:

“But Frank has unfinished business — reform of Fannie Mae and Freddie Mac and defense of the Dodd-Frank Act against a Republican assault.”

You mean the same witty Barney Frank who opposed President Bush’s “inane” efforts to reform Fannie and Freddie in the early 2000′s? You mean this Barney Frank:

”These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis.”

How about this Barney Frank:

“We see entities that are fundamentally sound financially. . . . And even if there were a problem, the federal government doesn’t bail them out.”

Very outspoken. Here’s another important sentence from that Post op ed:

“During this period, Sen. Richard Shelby led a small group of legislators favoring reform, including fellow Republican Sens. John Sununu, Chuck Hagel and Elizabeth Dole. Meanwhile, Dodd — who along with Democratic Sens. John Kerry, Barack Obama and Hillary Clinton were the top four recipients of Fannie and Freddie campaign contributions from 1988 to 2008 — actively opposed such measures and further weakened existing regulation.”

I’m sure Barney Frank and his fellow Democrats have unfinished business with Fannie Mae and Freddie Mac. Bernie Madoff has unfinished business on Wall Street as well. The right thing for voters to do is to stop him before he finishes anymore business on the banking committee. He’s “finished” quite enough already.