A Beneficial Retirement

Holidays are respites from problems, but those problems don’t go away. While I love Thanksgiving because of its Christian origins, simply celebrating Thanksgiving doesn’t solve what ails us, particularly when so many in the country don’t want to recognize the Giver of all good things. Now with Thanksgiving behind us, there remain many unresolved issues:

One really good thing has happened, though: Congressman Barney Frank has announced his retirement. That, by itself, is a step toward recovery. Frank was one of the principal sponsors of our current economic crisis as the primary “pusher” of bad mortgage loans, a fact he’s never admitted.

Frank’s entire career has been one painful moment after another, starting with his open and unapologetic admission of homosexuality, to his censure for allowing a prostitution ring to operate out of his D.C. townhouse, to his constant badgering of opponents. When it comes right down to it, Barney Frank is a pretty despicable human being. I don’t often say things that baldly, but I’m willing to make an exception in his case.

Commentator Charles Krauthammer had a few choice words about Frank’s announced retirement as well:

History will remember him as the man who said [September 11, 2003] … “these two entities, Fannie and Freddie, are not facing any kind of financial crisis.” And then he goes on the offense for anybody who might imply that it was [in crisis]: “The more people exaggerate the problems, the more pressure there is on companies, the less we see in terms of affordable housing.”

Well, it wasn’t affordable housing. It was unaffordable housing. And that’s what he was pushing—and trying to deflect those who were trying to rein in these entities. …

I would say that the best thing, the most important thing he has ever done to prevent the crash from ever happening again is what he did today—retire.

Yes, his work is done, and we can all breathe a sigh of relief.