Thursday, February 17, 2011

Barney Frank Explains Why He Jumped Into Bed with Hank Paulson

Barney Frank, get this, has penned an introduction to the paperback edition of  former Treasury Secretary Hank Paulson's book on the financial crisis.

In the intro, Frank attempts to justify his role in the bailout of Wall Street:
Two elements made it possible for Hank Paulson and me to work together despite partisan anger about our cooperation. First, we trusted each other, admired each other’s integrity and commitment to the public good, and shared a similar and natural understanding of the crisis that faced us, and we were helped by the fact that we were both in power.

Second, to their great credit, President Bush, Speaker Pelosi and Senate Majority Leader Reid gave us their full and indispensable backing.
Commitment to the public good? Shoveling money at the behest of Paulson into to the coffers of Goldman Sachs is now considered "commitment to the public good".

Both of them ought to be locked up together in the same cell.


  1. "Both of them ought to be locked up together in the same cell."

    Somehow, I don't think Barney would mind....

  2. St. Isidore says "laws are enacted for no private profit, but for the common benefit of the citizens." Without the common good a statute is no law at all.