Barney Frank’s Friends with Benefits; Update: New Fannie/Freddie lavish comp figures
Barney Frank’s Friends with Benefits
by Michelle Malkin
Creators Syndicate
Copyright 2011
If you want to watch a corruptocrat start sputtering like Porky Pig with allergies, confront him with three simple words: conflict of interest. Asked this week about his role in securing an ex-lover’s highly coveted job at government mortgage giant Fannie Mae, Massachusetts Democratic Rep. Barney Frank retorted:
“Aba-dee aba-dee aba-dee aba-dee.”
Or that’s what it sounded like, anyway. Frank was rather miffed about the recent disclosure that he helped former lover Herb Moses land a job with the behemoth lender while sitting on a House committee that regulates lenders a decade ago. The Boston Herald reported Thursday that Frank immediately invoked the Everybody Does It card: “It is a common thing in Washington for members of Congress to have spouses work for the federal government. There is no rule against it at all.”
Frank then switched to the Everybody Knew defense: “It was widely known. It was out there in the public.”
Next, he dismissed any controversy about his ethical judgment with the Nobody Cares shield: “It’s nonsense.”
No doubt he’ll spring the Homophobia Card on critics at an opportune moment to ice his multitiered cake of excuses.
Funny thing. Not too long ago, it was Frank himself counseling fellow Democratic scandal magnet Rep. Maxine Waters to butt out of Boston-area OneUnited Bank’s bid for $12 million in federal TARP bailout funds because of conflict-of-interest odors. Waters’ husband, Sidney Williams, was an investor in one of the banks that merged into OneUnited and owned stock holdings estimated at $350,000.
Frank’s exact words to Waters: “You should stay out of it. … You should stay away from this.”
Waters didn’t listen. The House ethics committee charged her with several ethics violations (though no trial has yet been scheduled). Frank nearly broke his arm patting himself on the back and pronouncing himself “vindicated” after the charges were filed last year.
But where was Mr. Clean when his own sleazy dalliances needed self-policing?
While head of the House Financial Services Committee in 2009, amid economic upheaval across the country, Frank was jet-setting with hedge-fund mogul and TARP beneficiary S. Donald Sussman to his private Caribbean resort. The foxes in the House Ethics henhouse granted what they called “unusual” permission for the jaunt because Frank’s partner, Jim Ready, is close pals with Sussman. When Republicans raised questions about ethical improprieties, Frank — whose party has perfected the art of class warfare demagoguery — whinnied that it wasn’t a crime to have wealthy friends.
What should be criminal is the Democratic friends and fat cats protection racket run by the Fannie Mae and Freddie Mac overlords. While political operatives have raked in tens of millions of dollars in directors’ fees and lavish compensation packages, the government-sponsored lenders have bled billions and will soak up an estimated $400 billion in bailout funds. Financial journalist Gretchen Morgenson reported this week that Frank “was very aggressive and really tough” on Fannie critics after the corrupt institution “rolled out the red carpet” for his ex-lover. After his friend with crony benefits broke up with him, Frank remained a dogged Fannie defender.
Sneering at financial reformers before a 2003 House hearing, Frank asserted: “I want to begin by saying that I am glad to consider the legislation, but I do not think we are facing any kind of a crisis. That is, in my view, the two government-sponsored enterprises we are talking about here, Fannie Mae and Freddie Mac, are not in a crisis. … I do not think at this point there is a problem with a threat to the Treasury.”
Not that such spectacular bad judgment and lack of foresight should be any surprise coming from a politician whose early career was punctuated by a formal reprimand for using his office to fix another lover/prostitute’s parking tickets and lying about his criminal probation history. As a cocky Frank said at the time of that scandal: ”I think members of Congress rise or fall on their own individual records.” Eventually, yes.
***
Related: As Fannie, Freddie flounder, six top execs receive handsome rewards
Over the last two years, the Obama administration has approved a whopping $34.4 million in compensation to the top six executives of the financially troubled Fannie Mae and Freddie Mac mortgage giants while lacking basic protections to ensure such compensation is warranted, a federal watchdog found.
The largesse flowed to the six executives even though the two companies they run struggle to staunch billions of dollars in losses, remain in government conservatorship, and are required to repay taxpayers for assuming the companies’ liabilities during the mortgage crisis. Fannie and Freddie are tapping Treasury Department funds each quarter to help pay 10 percent dividends owed to the U.S. government.
“The need for effectiveness, integrity, and transparency in FHFA’s programs and operations cannot be overstated,” said Inspector General Steve Linick, a former Justice Department prosecutor confirmed by Senate last year to watch over federal housing programs. “Fannie Mae and Freddie Mac have received almost $154 billion in taxpayer funding to support the still-fragile housing market. In addition, they own or guarantee about $5.4 trillion in residential mortgage obligations.”
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I can’t believe Ilovemygerbil hasn’t chimed in. This would seem to be right up his alley.
happyscrapper…heard that one but still funny. Never get tired of Iowa jokes.
Think again, Red! Sarah is more bawdy and raucous than you know!
She is a hoot!
Hasn’t got up yet. Still at home wrapped in his Snuggie watching The Price Is Right.
Barney Frank is one of the many poster boys for what is wrong with our country. That the citizens of MA keep electing him is a disgrace – they, too, apparently have no shame.
The one good thing that hopefully could come out of this and the many other debacles, is that in the elections of 2012 the Dems and liberals will be run out of Washington in large numbers.
Yes, and we will continue the ‘turn-over’ to be sure those we have elected do what they were elected by us to do. That means work.
The following Taxachusetts citizens were subpoenaed today to testify before a special House sub-committee investigating alleged ethics violations by senior Congresswoman Bwarney Fwank:
1). Doctor Ben Dover, MD — Mrs. Fwank’s personal physician.
2). Connie Stipation, RN — doctor Dover’s srub nurse.
3). Red Ruffensore, MD — Proctologist to the Stars.
All are residents of Boston’s “Back Bay” area.
On May 27th, 2011 at 11:17 am, greenfairie said:
Here’s the actual tweet:
That’s quite a deck of cards you have there, Bwany.
And it’s stacked so cold it could liquefy helium.
I am regularly disappointed by Republicans but I will not be defeatist about it. There are people out there who will fight back. We just have to get them to either run for office or if in office, support them when they attempt to take a stand.
All this brings to mind Maxine Waters – how is that ethics case of Leather face coming along – oh wait – it isn’t.
Now go away, or I’ll taunt you a second time!
Reminds me of NATO’s ROE during the Bosnian No Fly Zone missions.
“Unknown aircraft in the no-fly zone. Exit the area immediately or I will be forced to read this warning again!”
It was pretty close to that.
A word of warning…over there ‘fannie’ means your backside…not…your minge.
–Keith/The Office (BBC)
longbow nailed it completely. It’s the same old story for Bwarney. This guy has so many scandals attached to him and yet the idiots of his district keep reelecting him no matter what. This clown could rob a bank with video cameras capturing it and he’d still be reelected. The more this clown stays in the House, the more powerful he becomes, even if his party is out of power.
My problem is not with this low life child molester (ran a male prostitution ring out of his house), it’s with the other members of congress who allow this crap to go on time and time again and the law enforcement of the their particular state. I asked my own congressman the same question at a town hall meeting…what does this clown have to do for the body of congress to do? His response was an overblown statement about how difficult it would be…blah, blah, blah.
Let’s face it, there are certain congress people that are completely untouchable. Fwank is one, Maxine Water, Rangle and several others. My question is why aren’t they behind bars?
THAT explains why I cannot get a federal job, I haven’t slept with Bawney.
Those unwritten requirements are always hardest to fill.
Hey, nothing to see here folks. When you work for the DC MOB, then it’s free passes, mucho excuses, and winky-winks all around, eh?
So everybody does it. Yeah, right! Everybody with no ethics, integrity or honor does it, because it is the way stupid people have to do things since they can’t work to achieve anything except the “line my own pockets with other people’s money while I lie through my teeth” skills. Dear Barney there is nothing wrong with fannie/freddie” Frank, I hope and pray that your gov retirement plan includes spending the rest of your natural life in prison for participation in the tanking of the economy and the destruction of the housing market.
When you play ball with Barney, things come your way.
Oh no you didn’t!! And MM let it through? Heh.
“As a cocky Frank said…”
oh no you did-n’t.
Hey Obama! Haven’t they made enough money?
Hey Obama! What have these clowns done to deserve such compensation? What’s that? They’ll be contributing to elect democrats in 2012? Never mind.
The government has no money. IT’S THE TAXPAYERS’!!!!!
TMI
I meant that purely from financial point of view, Happy.
I wouldn’t even think of trying to slip something through the back door.
Ummm…
nevermind
You bring up a great point, 1ConcernedMom.
Who was it that wanted to tax the AIG executives 100% for their bonuses?
Oh, yeah, Shumer. But, there’s this:
Plus…
Well, Prez? What do you have to say about the Fanny/Freddie execs?
Obama – Umm, uh, you know … (long pause).
AAAHHH! #121 was supposed to read:
Obama – Umm, uh, you know … (long pause) … it’s Bush’s fault.
Must be one heckuva slime trail left behind wherever Barney Frank walks.
Everybody does do it. Politicians are slimy; it’s a slimy profession. It is utopian to think that their power will not corrupt them. Term limits will solve a good deal of the problem.
The only thing keeping this monster out of prison is the fact that a prison sentence would be a reward for all of its bad behavior.
Barney Frank hates Bush.
yeah, I went there.
For Barney’s next trick…he will get his lover a job as a tight end with the Pats.
Hey Tom Brady…watch out in the locker room!
Barney looks like he’s sharing Old Bengay’s gerbil.
Someone asked Barney how he knew he was a homosexual. Barney replied that while the majority of homosexuals are born that way, the remainder, like himself just got sucked into it.
The problem is that giving government jobs to lovers or friends happens on both sides of the aisle. When one side wants to demonize the other they trot out this silliness. Now if both sides would outlaw or make rules against this practice I could see getting upset when this happens. IOW, both sides are cr00ks!
überqueer
ugh.
Photos of both Barney Frank and Rosie O’Donnell visible on the main page.
Excuse me while I throw up.
Frank is a disgusting creature. Anyone with any common sense knows this “guy” should be in jail. He better not get a pass because he is gay. Not that there is anything wrong with that. Does Bawney have any teeth? Just wonderin’.
What’s this? Washington is clueless on how to deal with the economic problems of the USA?
Washington IS the problem.
“In recent years, Republican Sen. John Ensign was told to beat it over his extramarital affairs. World Bank President Paul Wolfowitz was told to quit over insufficiently recusing himself from setting his girlfriend’s salary. Sen. Larry Craig was forced out over what he called a “wide stance” in a public restroom.”
“But authentic corruption — the kind that affects the public because it involves using public funds for private gain and as well as looking the other way — somehow doesn’t merit congressional sanction for Barney Frank.”
Neither Bawney “Mr Rumple” Fwank or Maxine “Leather face” Waters have yet to answer for their crimes -
I always thought Maxine Waters looked like Aunt Ester
Prejudice is so evil. But, it saves time.
Prejudice: Barney Frank is a rump ranger, therefore he has low morals and can’t be trusted in office.
Prejudice: Barney Frank had a male sexual playmate who ran a prostitution ring out of their apartment, therefore he has low morals and can’t be trusted in office.
Prejudice: Barney Frank, while touting the solvency of Fannie and Freddie, was securing his sexual playmate employment with Fannie, therefore he has low morals and can’t be trusted in office.
There’s a reason why people have an instinct for pre-judging.
We have all kinds of preventive laws that are based on nothing more than prejudice, and everybody but me is okay with them. But, even suggest using prejudice as a way to avoid having scumbags in office, and oh my goodness, it’s the same as suggesting we boil babies alive.
Hopefully we will gain the presidency and senate. The never ending flood of money to states like Massachusetts needs to stop. Their economy is reliant upon tax subsidized fraud in the union construction and financial industries. We need to stop the pork going to these liberal states. It is the only way to throw these pigs, like Barney Frank, out of office. He should be sitting in jail with consecutive life sentences along with so many other criminal Democrats. Hell cannot come soon enough for these evil bastards destroying our country while eating the fruits of our labor.
Frank and Dodd are the persons most responsible for the last several years financial mess. At least Dodd had the decency to not run for reelection. Frank even got reelected. They vote weirdly in the northeast.
***
HI DUFF65–#139. I lived in Boston for a year–1969–1970. I couldn’t believe how corrupt government was there. My co-workers paying bribes to employees of the state traffic agencies to fix their traffic tickets–including DWI’s–which disappeared from the files.
***
A city government that fired their 5 road repair workers and replaced them with phantom “workers” from a company run by the wife of a city government member–at twice the pay. Done as a Money Saving action yet! The potholes would tear out your shock absorbers since no work had been done for years. Court actions were starting to get the hundreds of thousands of bucks back from the phony company.
***
I stood in line for 4 hours or more to get my Mass driver’s license. Two windows open–8 shut–a line halfway around the block. When I finally got in and looked over the glass partitions–there were 15 “workers” sitting at their desks. A few reading newspapers, a guy with a Hustler magazine, a few doing crossword puzzles, and one guy asleep on his hands! Only a few actually doing their desk jobs shuffling papers.
***
When I returned to Texas the 5 workers in our Driver License office took about 15 minutes to handle 30 people. Everyone working hard at their jobs.
***
The newspapers were filled with stories of corruption and very lenient sentences handed out to the few who were actually charged with crimes. And these Mass voter clowns keep electing and re-electing these crooks! While continuing to complain about the problems.
***
John Bibb
***
Don’t cross the beams.
That would be bad.
Herman Cain may not be the candidate that can win, but his belief that a business approach to running government is absolutely on the money. It is not a myth that government workers have developed an entitlement attitude about their jobs and pensions. The whole system borders on criminal.
Barney Frank is a scumbag.
If it were up to me, he would be tarred and feathered.
RWR
http://www.rightwingrocker.com
Please.
I really didn’t need that imagery.
EEEEEEEEEEEEEEWWWWWWWWWWWWWWWWWWWWW!
RWR
http://www.rightwingrocker.com