Barney Frank

From Wikipedia, the free encyclopedia
Jump to: navigation, search
Barney Frank
Barneyfrank.jpg
Member of the U.S. House of Representatives
from Massachusetts's 4th district
In office
January 3, 1981 – January 3, 2013
Preceded by Robert Drinan
Succeeded by Joseph Kennedy
Chair of the House Financial Services Committee
In office
January 4, 2007 – January 3, 2011
Preceded by Mike Oxley
Succeeded by Spencer Bachus
Member of the Massachusetts House of Representatives
from the 8th Suffolk district
In office
January 3, 1979 – January 3, 1981
Preceded by Francis Dailey
Succeeded by Thomas Vallely
Member of the Massachusetts House of Representatives
from the 5th Suffolk district
In office
January 3, 1973 – January 3, 1979
Preceded by Eliot Wadsworth
Succeeded by Daniel Pokaski
Personal details
Born Barnett Frank
March 31, 1940 (1940-03-31) (age 77)
Bayonne, New Jersey, U.S.
Political party Democratic
Spouse(s) Jim Ready (m. 2012)
Alma mater Harvard University

Barnett "Barney" Frank (born March 31, 1940) is an American politician who served in the U.S. House of Representatives from 1981 to 2013. A member of the Democratic Party, he served as chairman of the House Financial Services Committee (2007–2011) and was a leading co-sponsor of the 2010 Dodd–Frank Act, a sweeping reform of the U.S. financial industry. Frank, a resident of Newton, Massachusetts, is considered the most prominent openly gay politician in the United States.

Frank was born on March 31, 1940 in Bayonne, New Jersey.[1] He studied at Harvard University. He has been married to Jim Ready since 2012.[2]

Fannie Mae Controversy

Taxpayers and members of congress accuse House Committee member of Fannie Mae conflict of interest.

Unqualified home buyers were not the only ones who benefitted from Massachusetts Rep. Barney Frank’s efforts to deregulate Fannie Mae throughout the 1990s.

So did Frank’s partner, a Fannie Mae executive at the forefront of the agency’s push to relax lending restrictions.

Now that Fannie Mae is at the epicenter of a financial meltdown that threatens the U.S. economy, some are raising new questions about Frank's relationship with Herb Moses, who was Fannie’s assistant director for product initiatives. Moses worked at the government-sponsored enterprise from 1991 to 1998, while Frank was on the House Banking Committee, which had jurisdiction over Fannie.

Both Frank and Moses assured the Wall Street Journal in 1992 that they took pains to avoid any conflicts of interest. Critics, however, remain skeptical.

"It’s absolutely a conflict," said Dan Gainor, vice president of the Business & Media Institute. "He was voting on Fannie Mae at a time when he was involved with a Fannie Mae executive. How is that not germane?

"If this had been his ex-wife and he was Republican, I would bet every penny I have - or at least what’s not in the stock market - that this would be considered germane," added Gainor, a T. Boone Pickens Fellow. "But everybody wants to avoid it because he’s gay. It’s the quintessential double standard."

References[change | change source]

  1. "Barney Frank Biography". The Biography Channel. 
  2. McLaughlin, Tim. "Congressman Barney Frank weds in same-sex marriage". Reuters Canada. Retrieved 8 July 2012. 

Other websites[change | change source]

Media related to Barney Frank at Wikimedia Commons