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Barney Frank backing away from fed?bloomberg what does that mean?why now?

Fed’s Expanded Regulatory Role in Doubt as Frank Backs Away
By Alison Vekshin

March 21 (Bloomberg) -- A proposal to put the Federal Reserve in charge of market oversight is losing congressional support after its main backer, Barney Frank, said criticism over American International Group Inc. “undercuts” his proposal.

“There’s still a need for a systemic-risk regulator,” Frank, a Massachusetts Democrat who chairs the House Financial Services Committee, said yesterday. “The argument for the Fed alone has lost a lot of political support. I think that’s now got to be re-looked at.”

Senate Banking Committee Chairman Christopher Dodd and Richard Shelby, the panel’s top Republican, said March 19 they are reluctant to expand the Fed’s role, faulting the central bank for lapses leading to the financial crisis.

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reedr3v's picture

Sniff sniff snifff, he must smell a shift

in the political winds. It certainly has nothing to do with principles or caring about the American people.

It's not like Frank hasn't gotten plenty of advice

from a certain Republican committee member. Paul's constant drip, drip, drip on the Fed may finally be soaking in.


New Hampshire and Ecuador.

i would like to believe that,

the thing is a while back mr.franks boyfriend was running a child prostitution ring out of mr Franks home??? Franks then made a comment that he will dump the beans and no more talk of it. These people if you call them that are about to kick it up into hi gear for the nwo or be exposed for who they really are,we will get no quarter from this.We earned it.so did they no quarter for them,traitors