Could Barney Frank's Retirement Put Dodd-Frank in Jeopardy

Headlines and Blogs from Around the Web Could Barney Frank's Retirement Put Dodd-Frank in Jeopardy ... Mr. Frank’s retirement could put at least some of the new regulations in the Dodd-Frank act in jeopardy, particularly if Republicans hold onto the House of Representatives and gain control of the Senate in 2012. He has been a zealous advocate for protecting parts of the law from attempts to weaken or repeal them. But he has also conceded that some elements might need to be changed, like the Federal Reserve’s rules for capping the fees that banks charge merchants to accept debit-card transactions.Click to continue Read More Should Servicers Be Charged With a Crime? ... In 2004, the FBI warned Congress of an “epidemic of mortgage fraud,” of unscrupulous operators taking advantage of a booming real estate market. Less than two years later, an accounting scandal at Fannie Mae tipped us off that something was very wrong at the highest levels of corporate America.Click to continue Read More Was Barney Frank to Blame for our Woes? ... So was Barney Frank to blame for our woes? There are two lines of argument here, and neither is all that compelling. The first contention is that Frank failed to exercise diligent oversight of Fannie Mae and Freddie Mac as the housing bubble swelled. There’s something to this, though it’s worth noting that Frank was in the congressional minority for most of the period in question. The second argument is that Frank and other Democrats — by promoting policies to boost affordable housing — somehow caused the subprime mess and financial collapse.Click to continue Read More