Wall Street Journal
Comment by Jim Campbell
Washington will become a far better place the the most evil and criminal member of congress, Barney “There will be no housing bubble,” leave his seat after his current term. With the redistricting put in place it was likely that a more conservative constituency would have shown him the door at the ballot box. The You Tube below put up by his competition is very well done and funny.
Go Mr. Frank and those like you and never darken the door step of the halls of congress again.
That’s my story and I’m sticking to it, I’m J.C. and I approve this message.
Video of Franks Retirement Rationale Here. In a nut shell, he couldn’t win in the district whose demographics have shifted to conservative voters. This loser couldn’t handle losing. He is unlikely to be misses.
By ALAN ZIBEL And JENNIFER LEVITZ
Massachusetts Democratic Rep. Barney Frank, a key lawmaker on financial issues and a longtime liberal voice on Capitol Hill, said Monday that he will retire from Congress at the end of next year.
Mr. Frank was a driving force behind last year’s Dodd-Frank financial overhaul that bears his name. He has spent much of this year defending the law against criticism from Republicans. He also worked closely with Federal Reserve Chairman Ben Bernanke and former Treasury Secretary Henry Paulson on the 2008 rescue of the financial industry.
Mr. Frank is a New Jersey native who worked in Massachusetts politics before being elected to Congress in 1980. He has been a hero to the left, a crotchety, no-nonsense type known for verbally sparring with opponents. He once told an angry woman at a public forum on President Barack Obama’s health-care law that he wouldn’t argue with her, that he “would rather argue with a dining-room table.”
The announcement came shortly after the Massachusetts Legislature approved new congressional district lines, whittling the state’s U.S. House members to nine from 10 because of slower population growth in the 2010 U.S. Census.
The redistricting significantly changed Mr. Frank’s reliably liberal district. He kept liberal Boston suburbs like Newton. But he gained more conservative suburbs west of the Boston and lost New Bedford, a working-class coastal city where Mr. Frank was known as a champion of the fishing industry.
The next in line to succeed Frank on the financial-services panel would be Rep. Maxine Waters (D., Calif.), a liberal lawmaker and ardent critic of the banking industry.
But Ms. Waters has faced allegations that she used her influence to help a bank with ties to her husband, a case that was under review by the House Ethics Committee until that committee’s probe was halted last year amid a partisan fight. After Ms. Waters, the second-most-senior Democrat is Rep. Carolyn Maloney (D., N.Y.).
Jaret Seiberg, a Washington-based policy analyst with Guggenheim Securities, said Mr. Frank’s decision could benefit banks and make a rollback of some of the Dodd-Frank law’s provisions more likely.
Mr. Frank “was probably the most articulate defender of the law in the House. His removal from the debate should make it incrementally more likely for regulatory relief legislation to advance,” Mr. Seiberg wrote in a note to clients.
However, he said it is “not a clear plus for banks,” because of Mr. Frank’s thorough understanding of the banking industry. “There are rarely unintended consequences to his actions,” he wrote. “We are not sure the same could be said for other Democrats who could chair the committee if Democrats retake the House.”