Barney Frank to Announce He Won’t Seek Re-Election
The Fat Cat Big Shot who brought us the Housing Market Bubble and the worst Financial Disaster since the Great Depression is calling it Quits!
Longtime Rep. Barney Frank, D-Mass., will announce Monday he is not seeking re-election, holding an afternoon press conference in Newton, Mass., to offer details behind his decision.
The 16-term lawmaker, whose name is emblazoned on the banking reform law that passed Congress last year, had long been rumored to be ready for retirement. He was previously chairman of the House Financial Services Committee but is now ranking member since Democrats lost the majority in the 2010 midterm election.
The Dodd-Frank law, a contentious set of provisions that Republicans say add layers of regulatory burdens without preventing potential future meltdowns, was made in response to the near collapse of the banking industry in 2008. Among other actions, it created a Consumer Financial Protection Bureau to oversee access to banking products and required listing ratios of executive pay to median employee salaries.
Enjoy your Retirement with your Friends at Fire Island Barney
That is until we find a way to put you in Jail where you’ll make New Friends I’m Sure