Barney Frank is a Cunning Fox, Isn’t He?
Remember that old saying about how bad it is to let the fox guard the henhouse? Well, it’s a worse idea to let the fox rebuild the henhouse after he burned it down, slaughtered all the hens, then told the farmer that everything was AOK.
House Financial Services Committee Chairman Barney Frank (D-Mass.) on Friday announced that he will hold hearings soon on financial regulatory reform amid gyrating markets and fears of a global recession.
Frank’s announcement that his panel will look at “broad regulatory and reform for the financial markets” was a shift from last week, when congressional Democrats — immediately after passing a $700 billion Wall Street rescue package — said they would wait until January to dig into their planned overhaul of the financial sector’s regulatory structure.
Frank’s first regulatory overhaul hearing is scheduled for 10 a.m. on Tuesday, Oct. 21.
The regulatory reform hearing will include an investigation of “financial institution oversight and regulation, systemic risk, and housing finance.” The release said it would be a continuation of July hearings held by the committee that focused on regulatory restructuring and systemic risk.
Then he picked a few feathers from between his teeth and grinned innocently.
Other Posts of Interest:
- Shooting Craps with the Economy
- Barney Frank: Only a Racist Would Criticize Me (UPDATE: Well, Guess Who’s A Racist Like Us?)
- Make Dodd Testify
Category: Our New Democratic Overlords, The Economy and Your Money
Yes, old Barney Frank is a cunning fox. But, I never get mad at these Clintonians because I reasoned some time ago that they are here to add humor to society. What a dull world it would be without these brainy folks. Carry on!