Barney Frank Admits he helped BF get Fannie job

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    May 26, 2011 6:51 PM GMT
    [url]http://bostonherald.com/news/politics/view/2011_0526frank_knocked_on_his_fannie_rep_admits_to_helping_lover_land_job_at_mortgage_giant_in_91/srvc=home%26position=0[/url]
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    May 26, 2011 6:54 PM GMT
    More here: http://www.npr.org/templates/transcript/transcript.php?storyId=136496032

    DAVIES: What's fascinating about this story is that you have this entity [Fannie Mae], which you said became the largest and most powerful financial organization in the world, you had this entity, which has government guarantees and government subsidies, although perhaps indirect, but it engages in major political contributions and lobbying expenses. How big a player were they in terms of contributing to politicians and lobbying?

    Ms. MORGENSON: They were very large. The numbers might not seem large in today's terms, but they were extremely shrewd and, you know, took great care, especially of the congressmen that were on the House Financial Services Committee and the senators on the Banking Committee.

    They knew that these were very important people to their livelihood and to maintaining the government perquisites as they were.

    One of the really big beneficiaries, albeit indirectly, was Congressman Barney Frank of Massachusetts. Back in 1991, when Congress was writing the legislation that would, you know, enhance or improve the oversight of Fannie Mae, or so they thought, Frank actually called up the company and asked them to hire his companion, who had just gotten an MBA from the Amos Tuck School of Business.

    Of course the company was happy to provide a job for his companion and rolled out the red carpet in a series of interviews with a variety of executives, and it ultimately did hire the man. And he stayed there for I believe seven years.

    So that was an example of the kind of thing that Fannie Mae would do. Now, when I asked Mr. Frank about this, I asked him, did it have any impact on his approach to the company. You know, was it a conflict? Did he feel that it had been a conflicted, put him in a conflicted spot? And he said absolutely not, that he didn't really remember being interested or having much to do with the 1992 legislation.

    But the record shows that he was very aggressive and really tough on those who were testifying in Congress about reining in Fannie Mae and Freddie Mac. He was very aggressive to, for instance, the head of the Congressional Budget Office at that time, who was trying to call for increased capital requirements and to call for a focus on safety and soundness at Fannie Mae, that Frank really took him apart in testimony.


    DAVIES: Right, and you write there were a number of occasions on which he defended Fannie and their record of promoting home ownership but in the end had a different view of the company, right?

    Ms. MORGENSON: Well, after the taxpayers had to take it over, he, you know, came around, finally. But by then it was too late. He said: Well, we should shut them down. But, you know, it really was far too late, and he had been such a vocal supporter for so long that it was sort of an odd turnabout.
  • Bigolbear

    Posts: 528

    May 26, 2011 7:17 PM GMT
    LOL @ the title of the thread.

    It made me think of this:

    BodyLiftDiag2.jpg
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    May 26, 2011 9:15 PM GMT
    This surprises who?

    I would wager that Frank's companion was better qualified for his position than Michael "heck of a job" Brown was to head FEMA.
  • Bigolbear

    Posts: 528

    May 26, 2011 9:31 PM GMT
    Christian73 saidThis surprises who?

    I would wager that Frank's companion was better qualified for his position than Michael "heck of a job" Brown was to head FEMA.



    I think you are underestimating Brown's ability to manage a federal emergency. Just because he botched one little response isn't a sign of failure. Just imagine what he could have done had New Orleans been stampeded by horses. Then you would praise him in all of his IAHA glory!
  • Webster666

    Posts: 9217

    May 26, 2011 10:47 PM GMT
    And, your point ?
    Most employers would rather hire someone recommended by someone who's already in the company.
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    May 27, 2011 3:51 AM GMT
    Christian73 saidThis surprises who?

    I would wager that Frank's companion was better qualified for his position than Michael "heck of a job" Brown was to head FEMA.


    Ah so you're saying that what Frank did given his position is acceptable? Your contributions are revealing yourself to be nothing more than a partisan hack and apologist for Democrats and the current Administration that can do little if any wrong. That frankly, is disappointing.
  • Webster666

    Posts: 9217

    May 27, 2011 4:30 AM GMT
    southbeach1500 said
    Webster666 saidAnd, your point ?
    Most employers would rather hire someone recommended by someone who's already in the company.


    How many corporations are you an owner of, Webster-the-Devil?

    As an employer-owner of two corporations, I can assure you, employers do not "rather hire someone recommended by someone who's already in the company."





    Let's review.
    You're an airline pilot and the owner of two CORPORATIONS, not one corporation, not one or two companies, not one or two businesses, but TWO CORPORATIONS.

    LOL.

    14y1uog.jpg
  • Webster666

    Posts: 9217

    May 27, 2011 4:32 AM GMT
    riddler78 said
    Christian73 saidThis surprises who?

    I would wager that Frank's companion was better qualified for his position than Michael "heck of a job" Brown was to head FEMA.


    Ah so you're saying that what Frank did given his position is acceptable? Your contributions are revealing yourself to be nothing more than a partisan hack and apologist for Democrats and the current Administration that can do little if any wrong. That frankly, is disappointing.




    So, are you claiming that Barney Frank's "companion" was unqualified for the job ?
    I have a pretty good feeling that you were just looking for something Democratic to bitch about.
  • CuriousJockAZ

    Posts: 19138

    May 27, 2011 5:25 AM GMT
    Christian73 saidThis surprises who?

    I would wager that Frank's companion was better qualified for his position than Michael "heck of a job" Brown was to head FEMA.



    Of course you would, Christian -- could you be any MORE predictable? icon_rolleyes.gif
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    May 27, 2011 3:19 PM GMT
    Webster666 saidSo, are you claiming that Barney Frank's "companion" was unqualified for the job ?
    I have a pretty good feeling that you were just looking for something Democratic to bitch about.


    It's possible he was qualified for the job, but given Frank's position of power and oversight over Fannie Mae, at the very least this seems wrong and at the very worst, unethical. I'm sure if we replaced his name with a Republican even you could see the difference. The difference of course is that I think it's wrong irrespective of party affiliation - especially in light of how bad a job Frank did on the oversight of Fannie Mae.

    More gets revealed here: http://nalert.blogspot.com/2011/05/barney-franks-moms-group-gets-fannie.html

    As it turns out Fannie Mae made a sizeable contribution to a charity Frank's mother co-founded:
    Fannie Mae made sizable grants — $25,000 in 1994 and $50,000 in 2001 — to a Boston organization cofounded by Frank’s late mother and twice gave the group an award for its work in providing housing for the elderly.
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    May 27, 2011 3:27 PM GMT
    riddler78 saidIt's possible he was qualified for the job, but given Frank's position of power and oversight over Fannie Mae, at the very least this seems wrong and at the very worst, unethical. ...

    Given the overall corruption associated with Fannie and the conduct of that organization along with Frank and his cohorts, this act is just a drop in the bucket. I posted this link in another thread, but it is a good read on the relationship between Fannie and several Democrats, including you know who.

    http://hotair.com/archives/2008/09/17/mccains-attempt-to-fix-fannie-mae-freddie-mac-in-2005/
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    May 27, 2011 3:38 PM GMT
    Do we really need to go through all the unqualified people in the Bush administration, starting with Condoleeza Rice and ending on the disastrous and hilarious Harriet Miers?!?

    And despite SouthBeach's apparent parallel universe of hiring, the number one way to predict who will get a job is having an inside connection, and many employers like referrals.
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    May 27, 2011 3:47 PM GMT
    Christian73 saidDo we really need to go through all the unqualified people in the Bush administration, starting with Condoleeza Rice and ending on the disastrous and hilarious Harriet Miers?!?

    And despite SouthBeach's apparent parallel universe of hiring, the number one way to predict who will get a job is having an inside connection, and many employers like referrals.


    You presume that his boyfriend that he encouraged a company over which he had oversight over - which wasn't even with his own money, was competent? What evidence do you have of this?
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    May 27, 2011 4:01 PM GMT
    southbeach1500 said
    Christian73 saidDo we really need to go through all the unqualified people in the Bush administration, starting with Condoleeza Rice and ending on the disastrous and hilarious Harriet Miers?!?


    No we don't, because this topic is about Barney Frank and his boyfriend, so stick to the topic. If you want to bring up the Bush administration, create a topic of your own.

    Just a quick comment - to compare Bush appointments with Obama's, look at the czars. No need to go back to the USSR to find Communists and others with similar "qualifications".
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    May 27, 2011 4:15 PM GMT
    Christian73 saidDo we really need to go through all the unqualified people in the Bush administration, starting with Condoleeza Rice and ending on the disastrous and hilarious Harriet Miers?!?

    And despite SouthBeach's apparent parallel universe of hiring, the number one way to predict who will get a job is having an inside connection, and many employers like referrals.


    Condoleeza Rice, unqualified? Are you kidding me? That lady, while I may not have been a fan of everything she stood for and defended, has got to be one of the classiest people ever. She is also highly intelligent!

    She could probably be president if she ran.
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    May 27, 2011 4:18 PM GMT
    mocktwinkie said
    Christian73 saidDo we really need to go through all the unqualified people in the Bush administration, starting with Condoleeza Rice and ending on the disastrous and hilarious Harriet Miers?!?

    And despite SouthBeach's apparent parallel universe of hiring, the number one way to predict who will get a job is having an inside connection, and many employers like referrals.


    Condoleeza Rice, unqualified? Are you kidding me? That lady, while I may not have been a fan of everything she stood for and defended, has got to be one of the classiest people ever. She is also highly intelligent!

    She could probably be president if she ran.

    The radical left really goes after minorities who are successful in life and don't share their extremist view.
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    May 27, 2011 6:09 PM GMT
    welcome to politics boys, enjoy your stay.
  • TrentGrad

    Posts: 1541

    May 28, 2011 8:06 AM GMT
    mocktwinkie said[url]http://bostonherald.com/news/politics/view/2011_0526frank_knocked_on_his_fannie_rep_admits_to_helping_lover_land_job_at_mortgage_giant_in_91/srvc=home%26position=0[/url]


    You are kidding, right twinkie?

    On the one hand, you have Barney Frank, whose partner was appointed to an entry level position, that apparently he (Frank) didn't even vote on.

    On the other hand, you have Scott Walker, a man who appointed a drunk driving drop out with no work experience to a position overseeing "environmental and regulatory matters and dozens of employees at the Department of Commerce." Of course it helped that the drunk driving drop out's father wrote Scott Walker a big fat cheque and is a Republican supporter. Keep in mind, this is the same Scott Walker who refuses to support a current law that allows gays to visit infirmed partners in hospitals, and the same Scott Walker who declared war on public sector workers who, in many cases, were earning far less than the $81,500 starting salary that Scott Walker's failure protege was given!

    And this is the same Scott Walker that mocktwinkie has pledged his heart and soul to defend, no matter what!

    Seriously dude, how do you sleep at night? I realize that you're a child of privilege...but still, so hypocritical...and trying to call attention to Barney Frank's actions from two decades ago? That's weak, even for a Republican!
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    May 28, 2011 11:30 AM GMT
    socalfitness said
    mocktwinkie said
    Christian73 saidDo we really need to go through all the unqualified people in the Bush administration, starting with Condoleeza Rice and ending on the disastrous and hilarious Harriet Miers?!?

    And despite SouthBeach's apparent parallel universe of hiring, the number one way to predict who will get a job is having an inside connection, and many employers like referrals.


    Condoleeza Rice, unqualified? Are you kidding me? That lady, while I may not have been a fan of everything she stood for and defended, has got to be one of the classiest people ever. She is also highly intelligent!

    She could probably be president if she ran.

    The radical left really goes after minorities who are successful in life and don't share their extremist view.


    Rice was National Security Adviser at the time of the terrorist attack in our country's history. Perhaps the fact that her expertise was Russian history had something to do with her inability to see all the warnings provided to her by the Clinton administration.
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    May 28, 2011 1:46 PM GMT
    Christian73 said
    socalfitness said
    mocktwinkie said
    Christian73 saidDo we really need to go through all the unqualified people in the Bush administration, starting with Condoleeza Rice and ending on the disastrous and hilarious Harriet Miers?!?

    And despite SouthBeach's apparent parallel universe of hiring, the number one way to predict who will get a job is having an inside connection, and many employers like referrals.


    Condoleeza Rice, unqualified? Are you kidding me? That lady, while I may not have been a fan of everything she stood for and defended, has got to be one of the classiest people ever. She is also highly intelligent!

    She could probably be president if she ran.

    The radical left really goes after minorities who are successful in life and don't share their extremist view.


    Rice was National Security Adviser at the time of the terrorist attack in our country's history. Perhaps the fact that her expertise was Russian history had something to do with her inability to see all the warnings provided to her by the Clinton administration.

    Don't try to get into foreign policy, because you really look like a fool, maybe I should add a racist fool, just for good measure.
  • HndsmKansan

    Posts: 16311

    May 28, 2011 1:54 PM GMT
    socalfitness said

    Don't try to get into foreign policy, because you really look like a fool, maybe I should add a racist fool, just for good measure.


    Let's not pull the racial card, thats really pretty inappropriate and that wasn't what he was asserting.....

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    May 28, 2011 2:32 PM GMT
    socalfitness said
    Don't try to get into foreign policy, because you really look like a fool, maybe I should add a racist fool, just for good measure.


    This reflex of calling progressives "racist" for pointing out the racist dog whistles coming from the right-wing is just hilarious. Pointing out that the president is being treated very differently by the Right for maintaining long-standing policies that are completely uncontroversial or that the First Lady is being constantly criticized for wanting to reverse the trends in childhood obesity, both with thinly veiled references to their race is not "racist". It's the opposite of racist. You defending it is racist.

    And, given your desperate attempts to paint Obama's Middle East speech as "anti-Israel", you either do not understand the region or the English language.
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    May 28, 2011 2:42 PM GMT
    Christian73 said
    socalfitness said
    Don't try to get into foreign policy, because you really look like a fool, maybe I should add a racist fool, just for good measure.


    This reflex of calling progressives "racist" for pointing out the racist dog whistles coming from the right-wing is just hilarious. Pointing out that the president is being treated very differently by the Right for maintaining long-standing policies that are completely uncontroversial or that the First Lady is being constantly criticized for wanting to reverse the trends in childhood obesity, both with thinly veiled references to their race is not "racist". It's the opposite of racist. You defending it is racist.

    And, given your desperate attempts to paint Obama's Middle East speech as "anti-Israel", you either do not understand the region or the English language.

    Your reading comprehension must be pretty low. I did not characterize Obama's speech as anti-Israel, though I do have a definite opinion where his allegiance lies. In the other thread, I was pointing out the poor judgement he used in making that speech given the reaction of Netanyahu and the Congress, and the likely negative impact on the peace process.
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    May 28, 2011 2:47 PM GMT
    HndsmKansan said
    socalfitness said

    Don't try to get into foreign policy, because you really look like a fool, maybe I should add a racist fool, just for good measure.


    Let's not pull the racial card, thats really pretty inappropriate and that wasn't what he was asserting.....

    I have a different perspective on this. He had changed the thread topic to discuss Bush appointee qualifications and mentioned Rice. My response: "The radical left really goes after minorities who are successful in life and don't share their extremist view." I stand by that response. Many on the left, including on RJ, continually throw out the race card against others. Guess they don't like it when it comes back to bite em, eh?