Bill Shannon at Fox [1]writes this morning:
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.
Heh. Welcome to the party, boys, you’re a little late. This stuff has been out here in the sphere for weeks. Still, nice to see this stuff finally being questioned. I suspect and hope Frank and the other Democrats at the root of this are set for a smackdown of epic proportions.