The Spectacle Blog

Barney Frank Writes Some Reasonable, Some Unreasonable Things

By on 2.17.11 | 8:43AM

David Wessel reports that Rep. Barney Frank of Massachusetts has written the forward to the paperback editon of Bush Treasury secretary Hank Paulson's book on the financial crisis. Apparently Frank is very forthright about the crisis and the subsequent federal response. He writes: 

  • "By 2009, with President Bush out of power and the Democrats in control of both houses of Congress and the presidency, Republicans no longer needed to appear reasonable.... Had the situation been reversed, Democrats would have behaved similarly."
  • "Partisanship is a legitimate concept that has been discredited by the excesses of too many of its practitioners."
  • Assertions that actions taken during the financial crisis were aimed at protecting Wall Street "could not be more wrong. We were convinced then - and are still convinced now - that our efforts were essential to preventing a wide-scale economic collapse."

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