Media Mum on Barney Frank's Fannie Mae Love Connection

by Jeff Poor - September 24th, 2008 - Business and Media

Are journalists playing favorites with some of the key political figures involved with regulatory oversight of U.S. financial markets?

MSNBC’s Chris Matthews launched several vitriolic attacks on the Republican Party on his Sept. 17, 2008, show, suggesting blame for Wall Street problems should be focused in a partisan way. However, he and other media have failed to thoroughly examine the Democratic side of the blame game.

Prominent Democrats ran Fannie Mae, the same government-sponsored enterprise (GSE) that donated campaign cash to top Democrats. And one of Fannie Mae’s main defenders in the House – Rep. Barney Frank, D-Mass., a recipient of more than $40,000 in campaign donations from Fannie since 1989 – was once romantically involved with a Fannie Mae executive [Herb Moses - assistant director for product initiatives at Fannie Mae who was at the forefront of relaxing lending restrictions which significantly contributed to the current crisis].

In addition to many other Democrat contributions to the current crisis, this blatant conflict of interest continues to be suppressed by the MSM and Democrat leadership. The double standard is contemptible. Barney Franks is off limits because he is gay and had a sexual relationship with someone whose position made Frank's role in congress a complete conflict of interest. Any Republican would be crucified in these circumstances but when it is a Democrat, the press looks the other way.

As noted in several articles posted here, the Democrats own this crisis and their constant attempt, along with the MSM, to blame Republicans is a monumental joke.