I sit here this evening watching a lovefest between 60 Minutes correspondent Leslie Stahl and Barney Frank. This is, in my opinion, not what I would consider to be an objective portrayal of Rep. Frank. For starters, Ms. Stahl not once, but twice, suggested he’s the smartest man in Congress. That really doesn’t say much for the rest of Congress, unless she’s suggesting he’s a savant.
Rep. Frank is the presiding chairman of the House Committee on Banking and Finance. He’s been a member of this committee for years and can be credited with stopping legislation in committee to limit the power and authority of Fannie Mae and Freddie Mac in 2004, 2005 and 2006, as reported in a series of articles in the Wall Street Journal in late October. It was later disclosed that he was having a close relationship with one of the executives at Fannie Mae, but this was not discussed in the “interview”. At no point was Rep. Frank questioned on his role in the rise and fall of Fannie and Freddie. This was, unfortunately, not a fair or balanced portrayal, because of the lack of objective criticism of his role in any of the countries current financial problems; Mr. Frank is being hailed as a hero.
This has been a strange week for our country. We can talk about, ad nauseum, all the strangeness that is Chicago/Illinois politics. We can talk about electing a President that has emerged from the slimy cesspool that is Chicago politics. But instead, 60 minutes would rather lift up Barney Frank, and if anyone at all is to be blamed for the mess created by the collapse of Fannie and Freddie, it has to be him.
It’s good to watch 60 Minutes. I need to know what the enemy is up to…