As a side note, Fox News has been running a story on their web site about Barney Frank being guilty of confliuct of interest. His lover/partner, Herb moses, was an assistant director of Fannie Mae from 1991 to 1998 while Frank was on the House Banking committee. CNN.com has yet to pick up this story. From the FoxNews.com article:
Although Frank now blames Republicans for the failure of Fannie and Freddie, he spent years blocking GOP lawmakers from imposing tougher regulations on the mortgage giants. In 1991, the year Moses was hired by Fannie, the Boston Globe reported that Frank pushed the agency to loosen regulations on mortgages for two- and three-family homes, even though they were defaulting at twice and five times the rate of single homes, respectively.
Three years later, President Clinton’s Department of Housing and Urban Development tried to impose a new regulation on Fannie, but was thwarted by Frank. Clinton [former president] now blames such Democrats for planting the seeds of today’s economic crisis.