Monday, November 28, 2011

Barney Frank To Join Jon Corzine: Lawyered Up In The Bunker?

One former Democratic politician just crashed one of the world's largest brokerage firms:

Jon S. Corzine has hired Andrew J. Levander, a leading white-collar criminal defense lawyer, according to three people briefed on the matter, as the former New Jersey governor deals with fallout from the collapse of MF Global...

While another, Mr. Barney Frank, suddenly announces his retirement today, giving no real reason. But since he is widely blamed for creating the sub-prime mortgage disaster, and his party - which has long protected him - is rapidly falling out of favor, maybe Barney thought "The Corzine Maneuver" was best. After all, when the Republican front runner (that's Newt!) is quoted as saying:

....The fix was put in by the federal government. If you want to put people in jail, I want to second what Michele said, you ought to start with Barney Frank and Chris Dodd. And let's look at the politicians who created the environment, the politicians who profited from the environment and the politicians who put this country in trouble."

... in Chris Dodd's case, go back to look at the Countryside deals. In Barney Frank's case, go back and look at the lobbyist who was close to Freddie Mac

...maybe Barney knows that the party is over. Wait for the page B-23 announcement that Frank has hired a criminal lawyer, and you'll know why he quit, and why he's about to grab the canned goods and the boy-toy and head underground...

I plead not guilty, your honor, to bribery, misappropriation of federal funds, racketeering, insider trading...and as a side note, I had nothing to do with that gay prostitution ring operating out of my townhouse...

Although, other theories abound...

The source also speculated that Frank's longtime boyfriend Jim Ready was tired of being a political spouse.

Or just the old rats-fleeing-the-sinking-ship scenario

Rep. Barney Frank (D-Mass.) is the 17th House Democrat to announce a retirement this cycle compared to seven Republicans.

And all of those Republicans are trying to win higher office.

Of the Democratic retirements, eight are running for another position while nine are flat-out retiring.

And while this might be giddy news for those of us who believe in karma, if not justice, just remember that the wheel keeps spinning, as Jonah Goldberg reminds us:

By the way, with Frank retiring Maxine Waters is slated to be the ranking Dem on the banking committee. a shiver goes down the nation's collective spine..

UPDATE:  RS McCain has a great little round-up, while Professor Jacobson says it is the beginning of an inglourious end

...this represents a bigger deal than Barney. As more and more senior Democrats retire, the realization is sinking in that there is no next generation of Democrats...

...Who are the Democratic Party equivalents of Marco Rubio, Mitch Daniels, John Thune, Bobby Jindal, Paul Ryan or Eric Cantor?

Well, I hear Alan Grayson is going to try to run again in Florida...which reminds me of this bit of Simpsons dialogue, as Homer cohosts the Ace Awards:

Homer: And now the winner for the most promising new series on
cable: "Old Starsky and Hutches" [funky music starts]

Announcer: Accepting the award is the son of the guy who played Huggy Bear....

No comments: