Barney Got Frank Squeeze Entry Position in Fannie

[roo_ster]

http://www.bostonherald.com/news/politics/view.bg?articleid=1340643

Barney Frank, Congresscritter from Mass., finally admitted what has been know for quite some time: he helped get his then-lover a job at Fannie Mae while he was responsible for regulating Fannie Mae.

U.S. Rep. Barney Frank admitted he helped his ex-lover land a lucrative post with Fannie Mae in the early 1990s while the Newton Democrat was on a committee that regulated the lending giant — but he called questions of a potential ethical conflict “nonsense.”
...
In an interview Tuesday on WBUR’s “Fresh Air,” Morgensen said Frank “was very aggressive and really tough on those who were testifying in Congress about reining in Fannie Mae and Freddie Mac” during hearings after Moses was hired. She said Fannie Mae “rolled out the red carpet” for Moses as part of a strategy to curry favor with Frank and other members of the Financial Services Committee.

Morgensen also noted that members of the committee raked in tens of thousands in campaign donations from Fannie and Freddie execs, including Frank, who received $42,000 in contributions from 1989 through 2008.

Some animals are more equal than others.

[AZRedhawk44]

Barney Got Frank Squeeze Entry Position in Fannie

Double-entendre much?   

[roo_ster]

Double-entendre much?   

I am practicing my tabloid headline writing skills.

[MechAg94]

That guy has been crooked for a long time.

[longeyes]

You mean he did an end-run around the law?

[makattak]

What is sad is:

“If it is (a conflict of interest), then much of Washington is involved (in conflicts),” Frank told the Herald last night. “It is a common thing in Washington for members of Congress to have spouses work for the federal government. There is no rule against it at all.

That is completely right. The people in Washington think nothing of nepotism, cronyism, and other corruptions.

[roo_ster]

What is sad is:

That is completely right. The people in Washington think nothing of nepotism, cronyism, and other corruptions.

To, ah, "delve more deeply in that cavern":
http://www.washingtontimes.com/news/2011/may/25/house-members-stock-market-success-questioned/

An extensive study released Wednesday in the journal Business and Politics found that the investments of members of the House of Representatives outperformed those of the average investor by 55 basis points per month, or 6 percent annually, suggesting that lawmakers are taking advantage of inside information to fatten their stock portfolios.

“We find strong evidence that members of the House have some type of non-public information which they use for personal gain,” according to four academics who authored the study, “Abnormal Returns From the Common Stock Investments of Members of the U.S. House of Representatives.”

To the frustration of open-government advocates, lawmakers and their staff members largely have immunity from laws barring trading on insider knowledge that have sent many a private corporate chieftain to prison.

[makattak]

To, ah, "delve more deeply in that cavern":
http://www.washingtontimes.com/news/2011/may/25/house-members-stock-market-success-questioned/

Yep. But it's ok, making profit on what for anyone else would be insider trading by congressmen and their aides is not against the law. Soooo:

There is no rule against it at all.

Which is apparently the only ethical question congressman will ask. "Is it against the rules? No? Ok, we're good."

[grampster]

Barney Frank is not so much frank.

[GigaBuist]

A "lucrative" "entry level" position?  You don't usually see those words together.

Looks like much ado about nothing to me.

[longeyes]

It is much ado about nothing...in a society increasingly based on cronyism.

[roo_ster]

A "lucrative" "entry level" position?  You don't usually see those words together.

You do when policritters get you a job via those they regulate. 

Remember Jamie Gorelick?  The gal who wrote the wall between criminal & counterintel/terrorist parts of the FBI?  She moved on over to Goldman Sachs to make millions in an "entry level position."

Or, how about the Congressional staffer gal who wrote the recent regs on how to implement parts of finance reform?  She left and went to an "entry level position" at a lobbyist for those her regs effected.

[longeyes]

Welcome to a world where we are the piggy bank and they are the unruly brats with hammers.

[Doggy Daddy]

*I'm not signing this so people will think Terry did it*

[Perd Hapley]

Why do people always blame the Jews?

[roo_ster]

You do when policritters get you a job via those they regulate.  

Remember Jamie Gorelick?  The gal who wrote the wall between criminal & counterintel/terrorist parts of the FBI?  She moved on over to Goldman Sachs Fannie Mae to make millions in an "entry level position."

Or, how about the Congressional staffer gal who wrote the recent regs on how to implement parts of finance reform?  She left and went to an "entry level position" at a lobbyist for those her regs effected.

My bad.

Gorelick went from DOJ to Fannie Mae.

Even though she had no previous training nor experience in finance, Gorelick was appointed Vice Chairman of Federal National Mortgage Association (Fannie Mae) from 1997 to 2003. She served alongside former Clinton Administration official Franklin Raines.
...
On March 25, 2002, Business Week interviewed Gorelick about the health of Fannie Mae. Gorelick is quoted as saying, "We believe we are managed safely. We are very pleased that Moody's gave us an A-minus in the area of bank financial strength – without a reference to the government in any way. Fannie Mae is among the handful of top-quality institutions."[9] One year later, Government Regulators "accused Fannie Mae of improper accounting to the tune of $9 billion in unrecorded losses"
...
...from 1998 to 2002 Gorelick received a total of $26,466,834.00 in income

Fannie Mae, like Goldman Sachs, looks like one of the favorite places for Democrat bureaucrats to cash in.

Gorelick goes from position to position, leaving disaster in her wake.

[Scout26]

Gorelick goes from position to position, leaving disaster in her wake.

The term you are looking for is "Failing Upwards".

[230RN]

*I'm not signing this so people will think Terry did it*

[Scout26]

Remember Jamie Gorelick? 

I hold that uummm, Cword, personally responsible for 9/11.

[sanglant]

Why do people always blame the Jews?

because frankenfurter looks druish?









and. "ah *expletive deleted*ck, there goes the neighborhood."










figured the movie out yet? NSFW