November 28, 2011 2 Comments
Today, America learned that beloved Congressman Barney Frank (D-MA) is retiring from Congress next year.
Here’s the gist from Fox News:
Longtime Rep. Barney Frank, D-Mass., will announce Monday he is not seeking re-election, holding an afternoon press conference in Newton, Mass., to offer details behind his decision.
The 16-term lawmaker, whose name is emblazoned on the banking reform law that passed Congress last year, had long been rumored to be ready for retirement. He was previously chairman of the House Financial Services Committee but is now ranking member since Democrats lost the majority in the 2010 midterm election.The Dodd-Frank law, a contentious set of provisions that Republicans say add layers of regulatory burdens without preventing potential future meltdowns, was made in response to the near collapse of the banking industry in 2008. Among other actions, it created a Consumer Financial Protection Bureau to oversee access to banking products and required listing ratios of executive pay to median employee salaries.
Barney and his wayward ways will be missed.
Who will fill the void and take this spot? I guess time will tell…