October 03, 2008

Barney Frank's Paramour, a Fannie Exec

Fox News via Ace:

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.

Surprise, surprise, surprise!

Posted by Henry Louis Gomez at October 3, 2008 06:51 PM



Comments

I'm shocked.

Posted by: George L. Moneo [TypeKey Profile Page] at October 3, 2008 08:13 PM

Here's the whole thing. Read it and send it to all your friends. The hypocrisy, double-dealing, dishonesty and just plain evil nature of these Dem motherfuckers has to be exposed:

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.

"C’mon, he writes housing and banking laws and his boyfriend is a top exec at a firm that stands to gain from those laws?" the aide told FOX News. "No media ever takes note? Imagine what would happen if Frank’s political affiliation was R instead of D? Imagine what the media would say if [GOP former] Chairman [Mike] Oxley’s wife or [GOP presidential nominee John] McCain’s wife was a top exec at Fannie for a decade while they wrote the nation’s housing and banking laws."

Frank’s office did not immediately respond to requests for comment.

Frank met Moses in 1987, the same year he became the first openly gay member of Congress.

"I am the only member of the congressional gay spouse caucus," Moses wrote in the Washington Post in 1991. "On Capitol Hill, Barney always introduces me as his lover."

The two lived together in a Washington home until they broke up in 1998, a few months after Moses ended his seven-year tenure at Fannie Mae, where he was the assistant director of product initiatives. According to National Mortgage News, Moses "helped develop many of Fannie Mae’s affordable housing and home improvement lending programs."

Critics say such programs led to the mortgage meltdown that prompted last month’s government takeover of Fannie Mae and its financial cousin, Freddie Mac. The giant firms are blamed for spreading bad mortgages throughout the private financial sector.

Although Frank now blames Republicans for the failure of Fannie and Freddie, he spent years blocking GOP lawmakers from imposing tougher regulations on the mortgage giants. In 1991, the year Moses was hired by Fannie, the Boston Globe reported that Frank pushed the agency to loosen regulations on mortgages for two- and three-family homes, even though they were defaulting at twice and five times the rate of single homes, respectively.

Three years later, President Clinton’s Department of Housing and Urban Development tried to impose a new regulation on Fannie, but was thwarted by Frank. Clinton now blames such Democrats for planting the seeds of today’s economic crisis.

"I think the responsibility that the Democrats have may rest more in resisting any efforts by Republicans in the Congress or by me when I was president, to put some standards and tighten up a little on Fannie Mae and Freddie Mac," Clinton said recently.

Posted by: George L. Moneo [TypeKey Profile Page] at October 3, 2008 08:34 PM

As a gay guy, I am not only embarassed by Mr. Frank's lack of ethics and accountability, but I am afraid of the huge anti-gay backlash this will provoke. Remember, this comes on the heels of another well-known gay relationship that resulted in the financial disaster at Enron a decade ago.

It really bothers me because I was feeling so UP after the Palin/Biden debate last night. I mean, here was a SOCIAL CONSERVATIVE Republican for once acknowledging that our relationships deserved to be recognized, albeit not as "marriage" (which, BTW, I am fine with). It was shocking! It was revealed that there was essentially NO DIFFERENCE in this policy between the Dems and the Reps towards gays (I really wish they would repeal "Don't Ask, Don't Tell" too). And now that SOB, disgusting, ugly, putrid Barney Frank (what self-respecting fag would fuck that??!!) goes and poisons the air again. Damn...

Posted by: Cangrejero de Caibarien [TypeKey Profile Page] at October 3, 2008 09:14 PM

Cangrejero,
this is not a reflection on gays. Just like not wanting Obama to win is no reflection on blacks. Liars and cheaters come in all colors, genders and sizes. Don't worry.

Posted by: erica [TypeKey Profile Page] at October 3, 2008 09:19 PM

Dude, your gay? OMG!

LOL.

Seriously, I don't think Frank's sexual preference really affects this story. If he were straight and we were talking about his girlfriend the story would be just as disgusting because the sin was the violation of trust.

But you are right, Frank is one UGLY mo-fo.

Posted by: Henry Louis Gomez [TypeKey Profile Page] at October 3, 2008 09:19 PM

Is Barney Frank the pitcher or the catcher? Either way, who would want to do that old fart?

Posted by: mrcs_Concepcion [TypeKey Profile Page] at October 3, 2008 10:22 PM

If you're interested, mrcs_Concepcion, I can send you diagrams and an audio cassette.

Posted by: thinwhiteduke [TypeKey Profile Page] at October 3, 2008 11:15 PM

Cangrejero de Caibarien,

I agree with Erica's comment.

IMO, this should be treated as a conflict of interest and huge ethics violation ... independent of the fact that the relationship was with a Mr. Moses and not a Ms. Moses.

Frank's demeanor these past few days in casting and projecting blame on Republicans is his way of deflecting attention. It reminds me of whenever someone farts and right away starts overeacting and asks who farted? It's really a pity that all these events are happening too quickly and too close to the election ... the timing of it all is too concidental!

As to your comment about Republicans stance on gays ... the libs are good at manipulating terminology to create a distorted view of those who they despise. The moment a conservative is gaining ground in a rational debate, libs spew the "B" word (bigot) to shut up the conservative.
IMHO, both abortion and gay marriage are moral issues and should be left out of politics. Libs label Republicans as not being tolerant of gays by neglecting to mention that many object to the use of the word "marriage" to describe a gay union ... but have no problem whatsoever with it being defined as a "gay union" and as such, being the equivalent of a marriage between a man and a woman and consequently both having the same rights! This is the same tactic they employed regarding illegal immigration ... they cleverly left out the word "illegal" to insinuate that Republicans were against immigration ...

IMO, Change in Washington needs to start with the "Term Limits" for members of the Legislative Branch, just like we have in the Executive Branch ...

I wish you well :) Melek

"Of all forms of government and society, those of free men and women are in many respects the most brittle. They give the fullest freedom for activities of private persons and groups who often identify their own interests, essentially selfish, with the general welfare." - D. Thompson

Posted by: Melek [TypeKey Profile Page] at October 3, 2008 11:37 PM

If I recall correctly Bill and Hillary had tons of ethical issues and they're an old married couple. Ethics are taught, you're not born with them.

Posted by: George L. Moneo [TypeKey Profile Page] at October 4, 2008 01:01 AM

Oh, but there couldn't possibly have been any impropriety. I mean, Frank's a Democrat. It just SEEMS terrible, but he's really pure as snow. Just look at him...on second thought, scratch that. He does LOOK like a slimy, sleazy weasel, but appearances can be deceiving. This APPARENT conflict of interests would only be cause for concern if it involved a Republican. Pelosi will swear to that on a stack of plastic surgery textbooks (you know, something she really believes in, not that it's helped her any). So there's nothing to worry about. Besides, you don't want to be called a homophobe, now do you?

And by the way, why would a successful gay executive big-shot like Moses spend nine years involved with an oily toad like Frank? He might as well have been sleeping with Harry Reid. Well, it must have been Frank's mind he, uh, loved. Or his incredibly charming personality. I'm sure it had absolutely NOTHING to do with Frank's position in Congress. That would be just too disgusting, like sleeping with Pelosi for ulterior motives (or any motive, for that matter). No, it's just too awful to be credible. Only Republicans ever stoop that low (just as only right-wing dictators are ever truly unacceptable).

Poor Barney Frank. Just a misunderstood, persecuted victim, like all members of every minority (assuming, of course, they vote Democrat).

Posted by: asombra [TypeKey Profile Page] at October 4, 2008 06:58 PM

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