RSSRep. Barney Frank is CAGW’s 2009 Porker of the Year
CAGW | March 6, 2010
CAGW President Tom Schatz announced the results of the online poll for 2009 Porker of the Year on CNBC’s “Squawk Box” on February 2. House Financial Services Committee Chairman Barney Frank, (D-Mass.) finished first in a field of six with 49 percent of the vote. Sen. Kay Bailey Hutchison (R-Texas) came in second at 26.3 percent, while third-place honors went to Rep. Maxine Waters (D-Calif.) at 6.6 percent. Chairman Frank garnered the lion’s share of the vote as a result of his relentless and garrulous role in the failure of Fannie Mae and Freddie Mac, the two mortgage government-sponsored enterprises (GSEs), which the federal government took into conservatorship in September, 2008 after they began to collapse and which remain on life support even after an infusion of $112 billion in taxpayer funds. Chairman Frank safeguarded the GSEs’ lavish franchises and fended off any attempts to establish greater oversight even when it became clear that their precarious condition threatened the entire financial system. “The seeds of the GSE meltdown were sown by politicians like Barney Frank,” declared Schatz. Read more about the results of the 2009 Porker of the Year poll.
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