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Frank Back on Top

Last month I noted an unusual exchange Massachusetts Democrat Barney Frank had with Treasury Secretary Paulson regarding the use of the first $350,000,000,000 (that's billion, for the comma challenged) authorized under the now well known TARP legislation.

The crux of Representative Frank's concern was that Secretary Paulson was not predisposed to spend the TARP funds as the Chairman of the House Financial Services Committee saw fit. Rather, Paulson, in fluent bureaucratic dialect, told Frank to stick it. Perhaps uncharacteristically (but who is to say?) Frank disavailed himself of this suggestion and today he set out the terms under which he would submit (link requires registration) to release of the remaining $350 billion:

"We'll also need -- and have been talking to - [Treasury] Secretary-to-be [Tim] Geithner," he said. "We'll need the President-to-be to say that he supports it, so that he'll abide by it, so those conversations are going on," Rep. Frank said. "It's going to mean foreclosure relief and help for freeing up automobile credit; getting real lending from the banks -- that's what we are working on and we'll have that out on Friday."

So "President-to-be" Obama (which begs the question, "to-be" what?) has his orders from Representative Frank which will be released on Friday. One wonders that if Chairman Frank is addressing in such a manner the already elected President, what must he be saying to the Obama nominated Treasury Secretary Timothy F. Geithner, who must still make his way through confirmation hearings?


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Comments (9)

What gets me is that all th... (Below threshold)
Allen:

What gets me is that all the institutions (finical) didn't have to have a plan, and won't disclose how they are spending our taxpayers money. Nor will Paulson say who got what.

Don't you or anyone else give a shit where our taxpayers money is going. Sounds like typical GOP BS to me. Steal all you can and screw the taxpayers. Why to go gang.

But let GM or Ford et all and first thing I hear is the taxpayers have to cut their wages. Wake the hell up, the money boys are causing the problem, not the workers.

Barney Frank is an idiot. ... (Below threshold)
GarandFan:

Barney Frank is an idiot. He, along with Dodd, need to be put up against a wall.

"Perhaps uncharacterist... (Below threshold)
Marc:

"Perhaps uncharacteristically (but who is to say?) Frank disavailed himself of this suggestion...."

Who is to say you ask?

Well how about this guy

Frank is just the kind of s... (Below threshold)

Frank is just the kind of scum bucket who could thrive in Washington until he's 105 years old.

When one union worker from ... (Below threshold)
syn:

When one union worker from one industry figures out that they'll be subsidizing another another union worker from another industry then perhaps workers will finally figure out that union bosses ae not looking out for the worker.

It is like when the NYC transit union wanted to strike for more while retaining their retire at age 55 with full pension, all they did was to anger the service union workers who earn less that the transit workers and were just trying to get to work to make the money to pay the union dues.

Workers are screwing one another deeply up the anal cavities and they are giving Franks the greatest orgasm of all.

One of these days the Serfs will figure out that Serfdom is hell.

To folks like ass clown "La... (Below threshold)
JFO:

To folks like ass clown "Lawyer" marc "feggits" are what the whole point is about. Another minority group for a right wing loon to be afraid of.
depp=true

Nice of Frank to go through... (Below threshold)
LaMedusa:

Nice of Frank to go through the motions. Anyone with a legitimate concern about that worthless paper won't be heard from in the mainstream.

He will be elected again an... (Below threshold)
mag:

He will be elected again and again...

Wow, syn. Do I detect a not... (Below threshold)
Bruce Henry:

Wow, syn. Do I detect a note of wistful longing in comment # 5?




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