Thread: Frank was and remains a stalwart defender of Fannie Mae

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  1. #1 Frank was and remains a stalwart defender of Fannie Mae 
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    Media Mum on Barney Frank's Fannie Mae Love Connection

    Democratic House Financial Services Committee Chair promoted GSEs while former 'spouse' was Fannie Mae executive.
    Are journalists playing favorites with some of the key political figures involved with regulatory oversight of U.S. financial markets?

    MSNBC’s Chris Matthews launched several vitriolic attacks on the Republican Party on his Sept. 17, 2008, show, suggesting blame for Wall Street problems should be focused in a partisan way. However, he and other media have failed to thoroughly examine the Democratic side of the blame game.
    Prominent Democrats ran Fannie Mae, the same government-sponsored enterprise (GSE) that donated campaign cash to top Democrats. And one of Fannie Mae’s main defenders in the House – Rep. Barney Frank, D-Mass., a recipient of more than $40,000 in campaign donations from Fannie since 1989 – was once romantically involved with a Fannie Mae executive.

    The media coverage of Frank’s coziness with Fannie Mae and his pro-Fannie Mae stances has been lacking. Of the eight appearances Frank made on the three broadcasts networks between Jan. 1, 2008, and Sept. 21, 2008, none of his comments dealt with the potential conflicts of interest. Only six of the appearances dealt with the economy in general and two of those appearances, including an April 6, 2008 appearance on CBS’s “60 Minutes” were about his opposition to a manned mission to Mars.

    Frank has argued that family life “should be fair game for campaign discussion,” wrote the Associated Press on Sept. 2. The comment was in reference to GOP vice presidential nominee Sarah Palin and her pregnant daughter. “They’re the ones that made an issue of her family,” the Massachusetts Democrat said to the AP.
    The news media have covered the relationship in the past, but there have been no mentions since 2005, according to Nexis and despite the collapse of Fannie Mae. The July 3, 1998, Reliable Source column in The Washington Post reported Frank, who is openly gay, had a relationship with Herb Moses, an executive for the now-government controlled Fannie Mae. The column revealed the two had split up at the time but also said Frank was referring to Moses as his “spouse.” Another Washington Post report said Frank called Moses his “lover” and that the two were “still friends” after the breakup.

    Frank was and remains a stalwart defender of Fannie Mae, which is now under FBI investigation along with its sister organization Freddie Mac, American International Group Inc. (NYSE:AIG) and Lehman Brothers (NYSE:LEH) – all recently participants in government bailouts. But Frank has derailed efforts to regulate the institution, as well as denying it posed any financial risk. Frank’s office has been unresponsive to efforts by the Business & Media Institute to comment on these potential conflicts of interest.

    While the relationship reportedly ended 10 years ago, Frank was serving on the House Banking Committee the entire 10 years they were together. The committee is the primary House body which along with the Office of Federal Housing Enterprise Oversight (OFHEO) has jurisdiction over the government-sponsored enterprises.

    He has served on the committee since becoming a congressman in 1981 and became the ranking Democrat on the committee in 2003. He became chairman of the committee, now called the House Financial Services Committee, in 2007.
    Moses was the assistant director for product initiatives at Fannie Mae and had been at the forefront of relaxing lending restrictions at the company for rural customers, according to the Feb. 23, 1998, issue of National Mortgage News (NMN).
    “Herb Moses, who helped develop many of Fannie Mae’s affordable housing and home improvement lending programs, has left the mortgage industry,” Darryl Hicks wrote for NMN. “Mr. Moses - whose last day was Feb. 13 - spent the past seven years at Fannie Mae, most recently as director of housing initiatives. Over the course of time, he played an instrumental role in developing the company’s Title One and 203(k) home improvement lending programs.”
    http://paxalles.blogs.com/paxalles/2...-franks-1.html
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  2. #2  
    Super Moderator BadCat's Avatar
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    Frank has argued that family life “should be fair game for campaign discussion,”
    Then why doesn't he want to talk about the gay prostitution ring that was running in his basement?
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  3. #3  
    Senior Betwixt Member Bubba Dawg's Avatar
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    Quote Originally Posted by BadCat View Post
    Then why doesn't he want to talk about the gay prostitution ring that was running in his basement?
    Maybe it was it called Fannie May?
    Hey careful man! There's a beverage here!
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  4. #4  
    Senior Member LibraryLady's Avatar
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    The way he swings it was more likely "Freddie May"
    This is bigger than presidential politics. This is a battle for America.
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  5. #5  
    Super Moderator BadCat's Avatar
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    Quote Originally Posted by LibraryLady View Post
    The way he swings it was more likely "Freddie May"
    Or "Fanny Will"?
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  6. #6  
    Senior Betwixt Member Bubba Dawg's Avatar
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    Ah Barney, the Butt of so many jokes. :D
    Hey careful man! There's a beverage here!
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  7. #7  
    Senior Member LibraryLady's Avatar
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    Don't forget his sister Ann Lewis

    http://www.youtube.com/watch?v=1i09QxPvie8


    Ann Lewis Senior Advisor for Hillary Clinton for President, has served as the Director of Communications for HillPAC and Friends of Hillary 2005-2007 and from 1997 –2000 as Director of Communications and then Counselor to Bill Clinton.

    She was head of Political Division of the DNC in 1981-85.

    Lewis is the sister of United States Congressman Barney Frank.

    She was Director of Communications and Deputy Campaign Manager for the Clinton-Gore Re-Election Campaign in 1995- 1996, and Senior Advisor to the campaign of Hillary Rodham Clinton for U.S. Senate in 2000. As the National Chair of the DNC Women's Vote Center, she led the Democratic Party’s major initiative to reach, engage, and mobilize women voters from 2003- 2004.
    This is bigger than presidential politics. This is a battle for America.
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  8. #8  
    Senior Betwixt Member Bubba Dawg's Avatar
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    Barney and Ann. Something runs in that family. Not sure what. But it definitely runs.
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  9. #9  
    Senior Member LibraryLady's Avatar
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    The only thing she has in common with the other Ann Frank is religion.
    This is bigger than presidential politics. This is a battle for America.
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  10. #10  
    Senior Betwixt Member Bubba Dawg's Avatar
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    Quote Originally Posted by LibraryLady View Post
    The only thing she has in common with the other Ann Frank is religion.
    Dang. Ann Frank. Hadn't thought of that.
    Hey careful man! There's a beverage here!
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