Has President Obama served or hurt the Democratic Party in his six years in office. Any basic review of the facts gives a...
Name me a politician whose lover ran a prostitution ring out of the politician’s house or another lover who got caught growing Marijuana in his summer house and survive. A politician who has an affair with an official of an agency whose was regulated by the politician’s committee. Well, that is Barney Frank career, who has managed to survive many of arrows shot his way and now he is retired as senior statesman in spite of supporting housing policies that led to 2008 meltdown. What is worse, he is the author of the Dodd-Frank bill which is supposed to solve our banking problems but has codified too big to fail. It is estimated that many small and medium size banks will not stay in business due to regulation but don’t worry; the big boys on Wall Street will survive.
Frank is one of those legislators who spent most of his life in the public sector, never truly understanding the economy he attempted to regulate from Congress. What served Frank is that he lived in a district that regularly sent Democrats to Congress and whether the person had lovers who ran prostitution rings out of their personal house or not; it didn’t matter. If the D was behind his name, he went to Washington. Frank was considered brilliant but the reality he was hardly understood market economy and because of that, he helped nearly destroyed a financial system. Frank has managed to be mediocre and a rogue.