What is the right way for Barney Frank to deal with this? Indeed, what is the right way for all of us to deal with things like this?:
Recently, while waiting to be interviewed by the Huffington Post, I read something that gave me a very odd sensation. I knew what it must have felt like to be an alleged Iraqi weapon of mass destruction: Dick Cheney had lied about us both.
A copy of Cheney’s autobiography was on the table, and I gave it what is known as a “Washington read”–I went to the index and found my name–and read one of the most inaccurate criticisms ever made of my public record. Cheney wrote that in 2003 the Bush administration had sent legislation to reform Fannie Mae and Freddie Mac to Congress, but “it was killed by Financial Services Committee Chairman Barney Frank.”
That year he led us into war to destroy weapons of mass destruction that did not exist. And I was not the chairman of the financial service committee in 2003–or in 2004, 2005 or 2006. A Republican was.
To be clear, Cheney’s statement that I killed the bill as chairman of the Financial Service Committee in 2003 is not an exaggeration; it is not a misinterpretation; it is not a distortion. It is a lie.
As a final demonstration of the right wing’s total rewriting of history on the subject, when our committee did vote out a bill to restrict subprime mortgages, we were attacked in an editorial on Nov. 6, 2007, by The Wall Street Journal for interfering with the free market. In a passage they now must wish they never wrote, the editorialists strongly defended the subprime loans that were a major cause of the crisis: “But for all the demonizing, about 80 percent of even sub-prime loans are being repaid on time and another 10 percent are only 30 days behind. Most of these new homeowners are low-income families, often minorities, who would otherwise not have qualified for a mortgage. In the name of consumer protection, Mr. Frank’s legislation will ensure that far fewer of these loans are issued in the future.”
As to Cheney, I guess I should feel consoled that he simply lied about me, and did not invade my home.