Lawmaker Accused of Fannie Mae Conflict of Interest

[308Mike]

Linkarooni

Lawmaker Accused of Fannie Mae Conflict of Interest

Friday, October 03, 2008

By Bill Sammon

WASHINGTON — 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."

A top GOP House aide agreed.

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[Darrell]

O'Reilly tore Barney Frank a new asshole during an interview Thursday night... um, perhaps I should rephrase that. The vid's around on the web in case you missed it. It was great.

[mekender]

yeah it was awesome...

frank and dodd need to go to jail over this one...

[The Quiet Man]

frank and dodd need to go to jail over this one...

And yet, they will be reelected and will keep doing what they have been doing. Being a corrupt duplicitous lying scumbag...and suffering no consequences...is what being a democrat is all about.

Frank, Dodd, Schumer, Maxine Waters, and a whole cast of unsavory characters (mostly democrats) are hip deep in this shit and nobody is throwing a fit. Last election cycle the republicans had one guy who sent suggestive text messages to a congressional page and that was proof to the left (and their lackeys in the press) that the entire republican party is nothing but a bunch of corrupt perverts who prey on young congressional pages and they must be thrown out of congress to save the nation. That was over one scumbag. Now that the tables are turned and there is a whole lot of scumbags involved, the silence is almost deafening. These scumbags will pay no price for their malfeasence...and they know it. It's the double standard that really chaps my ass.

[308Mike]

These scumbags will pay no price for their malfeasence...and they know it. It's the double standard that really chaps my ass.

Let me tell you, your's isn't the only one and mine has been raw for a LONG TIME!

[Frankingun]

I pray that McCain turns this issue into campaign ads RFN. He was a cosponsor of Senate bill 190 tried to put some curbs on Fannie and Freddie a few years ago and his bill died in committee.

This mortgage crap took the one steady thing and turned into another liberal bullcrap guaranteed outcome debacle that brings everyone down.

Gerald O'Hara: Do you mean to tell me, Katie Scarlett O'Hara, that Tara, that land doesn't mean anything to you? Why, land is the only thing in the world worth workin' for, worth fightin' for, worth dyin' for, because it's the only thing that lasts.

[Termite]

I pray that McCain turns this issue into campaign ads RFN.

I doubt he will. And even if he does, the MSM won't run them.

Nobody in Washington, and I mean NOBODY(well, maybe Ron Paul) wants to take the neccessary steps to truly fix this problem, and punish the people guilty of causing it..

There are precious few people who want to address the real underlying causes. And when those few do, they are called idiots, out of touch, genetic throwbacks, racist-bigot-homophobes, etc.

[mekender]

word on the street is that tuesday night is going to be all bets off... but im afraid that it might be too late for the gloves to come off.

[Frankingun]

God, I hope he comes out punching.

[308Mike]

Republicans lose their office and get prosecuted for such crap - why do dhimmicraps always seem to get a pass?