Categories
ideological culture incumbents

Frankly Speaking

Representative Barney Frank’s recently announced retirement is not exactly a shock. His sense of timing may be better than most of his incumbent colleagues. Perhaps he smells something repellent slouching towards Washington: a secondary bust, another kick in the economy’s collective pants.

Funny, his timing had been a little slow soon after the Crash of 2008, when he protested that it hadn’t been he who had been pushing cheap mortgages and a policy of lax mortgage standards — oh no! — or he who had just recently proclaimed Fannie and Freddie to be doing just fine, thank you.

The New York Times, dubbing him a “top liberal,” cited redistricting as the major spark for his decision. Then it went on to quote Rep. Frank as blaming Newt Gingrich and the “conservative news media” for uglying up the tone in Washington, calling the present ideological climate a “bitter divide.”

Of course, before the Internet and Fox News, a near-​monolithic liberal slant dominated major media. Adding an offsetting bias might have made it tougher for Frank, but surely the new toughness reflects actual American opinion better than the previous left-​leaning cultural hegemony ever did.

Frank amusingly claims he has, now, but “one ambition: to retire before it becomes essential to tweet.” I bet he tweets soon.

Summarizing the advantages of not running for re-​election, he explained that he would no longer “have to try to pretend to be nice to people” he doesn’t like.

No more Mr. Nice Guy? No more Mr. Clean?

This is Common Sense. I’m Paul Jacob.

Categories
Accountability free trade & free markets too much government

Barney’s Bubble Babbling

To hear Congressman Barney Frank tell it, he was a lone voices of fiscal reason when the surge of ill-​considered mortgage debt fueled the now-​popped housing bubble.

Unfortunately for Frank, this is the age of the Internet. Bloggers have proved more than willing to collate inconvenient evidence.

Thanks to Ed Morrissey on HotAir​.com, then, we have two testimonies of Frank-​ish speechifying. Here’s Frank in 2009:

People haven’t fully understood. One of the causes of the terrible crisis we had over the last few years … it came from people being pushed into buying houses, taking out loans that they couldn’t afford. Part of that was a conservative view that rental housing was a bad thing.… People were pushing home ownership [for] people who shouldn’t have been there.

“People in power” pushed this, eh? Which people? The irresponsible conservatives. But here’s this same sir, Barney Frank, in a clip from 2005:

We have, I think, an excessive degree of concern right now about home ownership and its role in the economy.… This is not the dot-​com situation.… [Y]ou’re not going to see the collapse that you see when people talk about a bubble. And so, those of us on our committee in particular, will continue to push for home ownership.

Oh dear. Barney, just be honest already and admit you helped destroy the economy, okay?

This is Common Sense. I’m Paul Jacob.

Categories
term limits too much government

A Barney Frank Appraisal

Guess what: The disastrous policies that spawned our recent mortgage crisis prove that congressional term limits would be a very bad idea.

Not my opinion,
I hasten to add. It’s the view of one Edward Tucker, writing a letter to the Wilmington [DE] News-​Journal. Sorry, Ed, about how this Internet thing keeps your communiqué from dropping immediately into the ash heap of history.

Tucker’s view is typical of those who claim term limits would disastrously eject “experience” from the halls of power. He has nothing but praise for the expertise and gab gift of Representative Barney Frank, who has clung to his seat since 1981.

“The ability of only a few elected officials, such as … Barney Frank of Massachusetts, to speak intelligently about financial issues…has been impressive and reminds us that elected officials can grow expertise in office.”

Sorry, Mr. Tucker. But Barney was not one of the few congressmen who had been trying to curb the reckless lending policies of the Federal Reserve and Fannie Mae and Freddie Mac. (The three Big Fat F’s that each deserve a Big Fat F.) Frank was, frankly, one of the chief enablers of federal policies that pushed easy credit and shaky mortgage loans.

Long-​time incumbents may become expert indeed at spewing plausible-​sounding nonsense in front of the cameras. But expertise in con-​artistry isn’t quite the cure-​all it’s cracked up to be.

This is Common Sense. I’m Paul Jacob.