Frank's lover was a Fannie Mae Exec, no wonder he was so against regulating them

MrVicchio · 10-04-08, 12:31 PM

Quote:

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."

FOXNews.com - Lawmaker Accused of Fannie Mae Conflict of Interest - Politics | Republican Party | Democratic Party | Political Spectrum

Yeah, ya think there was a conflict of interest here. Frank should have stepped aside on anything relating to Fannie Mae. But cause he's "gay" no one dared to bring up that glaring problem. Seriously, American's are f--king stupid to let crap like this slide.

"Hey I'm in love with the exec of Freddie Mac! But dont' worry, I'll vote what's right for America not for my lover! What, you don't like that?? It's cause I'm gay you homophobe!"

Seriously.

Tucker Case · 10-04-08, 12:36 PM

Quote:

Originally Posted by MrVicchio

FOXNews.com - Lawmaker Accused of Fannie Mae Conflict of Interest - Politics | Republican Party | Democratic Party | Political Spectrum

Yeah, ya think there was a conflict of interest here. Frank should have stepped aside on anything relating to Fannie Mae. But cause he's "gay" no one dared to bring up that glaring problem. Seriously, American's are f--king stupid to let crap like this slide.

"Hey I'm in love with the exec of Freddie Mac! But dont' worry, I'll vote what's right for America not for my lover! What, you don't like that?? It's cause I'm gay you homophobe!"

Seriously.

Honestly, I mostly just surprised it was a Fannie exec, not a Freddie exec.