This is an adaptation from "Reckless Endangerment" , an exploration of the origins of the recent financial crisis, by Gretchen Morgenson and Joshua Rosner. The book was published Tuesday by Times Books. This excerpt examines how Fannie Mae, the government-sponsored mortgage giant, took on greater risks in the years leading up to a taxpayer bailout -- under the guidance of its CEO, James Johnson, and with the support of Congressional defenders, like Barney Frank. This is the last of three excerpts. In the summer of , as the financial crisis gathered steam, Barack Obama , the putative Democratic presidential nominee, began the crucial search for a vice presidential candidate. The man he chose to lead his effort was James A.
Frank the person not the book retired from Congress in after 16 terms in the U. House representing a suburban Boston district. Those recent cases reminded Frank of the old analysis point that the only way Republicans, with their royalist economic policies, could be competitive with the national electorate was by appealing to social issues — God, guns and gays, as the saying goes. In fact, he said, among white men, the only subgroups among which Democrats win a majority of the vote are gays and Jews.
Politico Magazine is featuring a zillion-word gushing piece describing how former congressman Barney Frank is coming out with a book called Frank which I sincerely hope is merely a reference to his last name, and not to a coded slang word. Frank will describe Frank's bravery at being the first publicly gay congressman in the House of Representatives. I salute his bravery, and also recognize him also for another first: the first member of the House of Representatives to admit to using a gay prostitute and letting his apartment be used as a gay brothel.
Craig broke the law. Frank didn't. Drugs Limbaugh.