The story seems a bit overwrought, but I would like to hear the Congressman respond to it.
More than 50% of his campaign funds, according to the article, come from the finance, insurance, and real estate industries, which someone has dubbed “FIRE” in a totally non-alarmist move. Some of the anger in the article is about the bailout bill, which both parties decided to pass, but Frank had the most visible role.
Obviously the industry wants to be nice to the House banking committee chairman. But we shouldn’t be jaded about this.
Maybe industries should be banned from donating to committee chairmen when the committee oversees their industry. (Yeah, I know, good luck on that one.)
Barney Frank remains, in my opinion, one of the best Congressmen we (we the nation) have, so I would be very open to his explanation. Which is a long-winded way of saying: I post this reluctantly. But it’s out there, so I see no point in not posting it.