Barney Frank Financial Corruption - Judicial Watch
obtained internal documents from the Treasury Department proving Frank
helped steer $12 million in federal bailout funds to a Boston bank
While much of the mainstream media seems to blame conservatives in Congress
for driving liberal Democrat Barney Frank a two-time Judicial Watch Most
Wanted Corrupt Politician out of office, the truth is that a number of
corruption scandals have probably caught up with the veteran Massachusetts
lawmaker who announced his abrupt retirement this week.
It was not that long ago that Frank assured his constituents that he would
definitely run for re-election in 2012, mainly to defend his disastrous
financial regulatory overhaul from Republican attempts to repeal it. He also
said he needed to continue fighting for “full legal equality for all
citizens” and to provide for the “housing needs of low-income people.”
But this week he threw in the towel after more than three decades in
Congress, claiming in a statement posted on his House website that he would
like to do some writing, though he remains concerned about “right-wing
assaults” on his financial reform bill. Two of the nation’s largest
newspapers followed up with puff pieces describing Frank as a victim of
scorching partisan battles and a politician known for his sharp intellect
and intense, rapid-fire delivery.
The reality is that Frank, the powerful chairman of the House Financial
Services Committee, has been embroiled in two of the largest financial
scandals in recent history. The first is the collapse of
government-sponsored Fannie Mae and Freddie Mack, which triggered the
nation’s financial crisis. Judicial Watch obtained internal government
documents proving that members of Congress, including — and perhaps
especially — Frank, were well aware that Fannie and Freddie were in deep
trouble due to corruption and incompetence and yet they did nothing to stop
it.
Judicial Watch also obtained internal documents from the Treasury
Department that prove Frank helped steer $12 million in federal bailout
funds to a Boston bank (One United) that eventually got shut down by the
government. Frank intervened on behalf of his equally corrupt friend,
California Congresswoman Maxine Waters, who held shares in the failing bank
that also listed her husband (Sidney Williams) as a board member.
The Treasury documents obtained by Judicial Watch through a Freedom of
Information Act lawsuit suggest Frank personally called former Treasury
Secretary Henry Paulson regarding a cash infusion from the government’s
Troubled Asset Relief Program (TARP) for One United Bank. On November 25,
2008, following Frank’s intervention, the Treasury Department awarded
$12,063,000 in bailout funds to One United, which is located in Frank’s
district.
As if this weren’t bad enough, a mainstream newspaper reporter recently
exposed Frank’s unethical relationship with the government-run mortgage
giants he supposedly regulated by revealing that he got his live-in
companion a job at Fannie Mae while Congress was writing legislation to
improve oversight of the lender. Frank actually called up and asked that his
companion be hired, according to the report, which also says that Frank
aggressively defended Fannie Mae after it hired his live-in partner.
https://www.judicialwatch.org
/blog/2011/11/corruption-scandals-caught-barney-frank/
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