Lets be frank, is Barney Frank really qualified to stay as chair of the financial services committee?

in private sector long gone, cronyism @ worst.

cronyism partiality long-standing friends, appointing them positions of authority, regardless of qualifications. hence, cronyism contrary in practice , principle meritocracy. cronyism exists when appointer , beneficiary in social contact; often, appointer inadequate hold or own job or position of authority, , reason appointer appoints individuals not try weaken him or her, or express views contrary of appointer.

on september 11, 2003, bush administration recommended significant regulatory overhaul in housing finance industry since savings , loan crisis. under plan, new agency created within treasury department assume supervision of fannie mae.

democratic opposition bush's plan: "these 2 entities -- fannie mae , freddie mac -- not facing kind of financial crisis," said representative barney frank of massachusetts, ranking democrat on financial services committee. "the more people exaggerate these problems, more pressure there on these companies, less see in terms of affordable housing."

after saying fannie , freddie fine , conveniently not noticing market collapse frank deserve chair important committee?

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