Over at Huffpo, Dishonorable Congressturd Barney Frank penned a long-winded screed to slam Republicans for their "amnesia" about how they, and not Democrats, are the only ones culpable for the current financial crisis. As anyone with a brain will notice (which cancels out those from Frank's district who keep voting for him), it is nothing more than an attempt to deflect from his own malfeasance as a (sic) member of Congress, and to deflect the fact that what happened with AIG and these bonuses is entirely a Democratic scandal. His opening line, meant to be an attention-getter for the rest of his nonsense, is actually quite apropos as it reflects what is going on with him:
Memory eventually fails us all,...
In light of the Democratic AIG/Porkulus scandal, Mr. Frank's own short-term memory has fallen into what those in my profession (I'm in IT) describe as the abyss, the "bit bucket".
Frank reflects on how he was "powerless" to stop all those eeeevil Republicans from passing bills that he would say created the current mess:
In 1999 they passed the Gramm-Leach-Bliley Act, which overturned a Depression-era law preventing commercial banks from acting like investment banks. In 2000, they passed another bill which loosened regulation of derivative markets. I voted against these bills -- but to no avail.
It's true that Frank voted against Gramm-Leach-Bliley (GLB). What Frank doesn't mention is that 155 House Democrats voted for it, while only 51 Democrats, including Frank, voted against it. I don't know about the other bill he was talking about since he decided to not, or forgot to, mention which bill it was. He also doesn't seem to remember that the President at that time, the guy who signed GLB into law, was fellow Democrat Bill Clinton. Go figure.
But have no fear. Frank was able to be "heroic" after the Democrats took control of Congress in 2007:
In March 2007, just two months after I became the Chairman of the Financial Services Committee for the first time, I moved quickly to forge a bill which would regulate Fannie Mae and Freddie Mac. The bill passed the House in May, with all 223 Democrats voting for it, and 103 Republicans voting against it. President Bush later signed that legislation into law.
How well did that work out Barney? Oh yeah; the federal government took over Fannie and Freddie a year later anyway, despite Barney's legislative "masterpiece". See, Barney is confusing doing something with doing something good, the latter being something a Democratic hack like Frank knows nothing about.
As I mentioned above, Frank is trying to provide cover for his and his party's scandalous mishandling of AIG and their bonuses. He continues to vent his (faux) "outrage" at everyone else because Frank refuses to acknowledge his own responsibility for all of this. His despicable handler, "San Fran Nan" Pelosi (D-CA), rammed through Porkulus without any Republican input or Republican votes. Sen. Chris Dodd's (D-CT) despicable handler, Sen. Harry Reid (D-NV), managed to get only three Republicans out of 41 to provide input into Porkulus and votes for it. "Brave Sir Robin" Dodd himself allowed Treasury to railroad in an adjustment to an amendment he introduced into Porkulus that allowed the AIG bonuses to be paid out; then, Dodd lied about it his involvement, as did The One, President "Hope N. Change" Obama. As did Obama's teleprompter.
Have you noticed how Frank has been remarkably quiet about the bonuses that the higher-ups at Fannie Mae and Freddie Mac are about to receive (if they haven't gotten them already)? Have you noticed that Frank never talks about the tens of millions of dollars in bonus money received by former Fannie employees (all Democrats; two of whom were Obama's economic "advisers" during his campaign) Jim Johnson, Jamie Gorelick, and Franklin Raines, who were able to get those bonuses fraudulently by cooking Fannie's books? And did you notice that Frank never demands that these individuals return their bonus money?
This isn't amnesia by Frank and the other Democrats; it is deceit on their part, plain and simple. This is the Democrats' scandal. All of them. Democrats put the bonuses in the legislation into Porkulus, Democrats voted for Porkulus without reading it, and a Democrat (and his teleprompter) signed it without reading it. They own Porkulus, and they own the scandal.