Barney Frank has died at age 86.

Guno צְבִי said:

Longtime former congressman Barney Frank, ‘deeply grounded in Jewish values and traditions,’ dies at 86​

The late Jewish representative from Massachusetts “approached Israel as a liberal Zionist: engaged, critical and deeply committed,” William Daroff, CEO of the Conference of Presidents, told JNS.​


Frank is known for co-authoring the Dodd-Frank Wall Street Reform and Consumer Protection Act with then senator Chris Dodd in 2009 to reform the financial services industry.

The Obama administration said at the time that the act, which then President Barack Obama signed into law in 2010, was the “most far reaching Wall Street reform in history,” that would “prevent the excessive risk-taking that led to the financial crisis.”

“The law also provides common-sense protections for American families, creating new consumer watchdog to prevent mortgage companies and pay-day lenders from exploiting consumers,” it said. “These new rules will build a safer, more stable financial system—one that provides a robust foundation for lasting economic growth and job creation.”

www.jns.org

Longtime former congressman Barney Frank, 'deeply grounded in Jewish values and traditions,' dies at 86

The late Jewish representative from Massachusetts "approached Israel as a liberal Zionist: engaged, critical and deeply committed," William Daroff, CEO of the Conference of Presidents, told JNS.
www.jns.org www.jns.org
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And the right wants to pretend he caused the crash it’s self



Even all the Republicans admitted at the time it was Republican deregulation of the banking industry
 
evince said:
en.wikipedia.org

Dodd–Frank Wall Street Reform and Consumer Protection Act - Wikipedia

en.wikipedia.org en.wikipedia.org



So these idiots say fixing the economic mess the entire Republican Party at the time admitted was caused by Republican deregulation of the banks was evil

Can you say cult?
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The act reorganized financial regulation through three major reforms: it created the Consumer Financial Protection Bureau(CFPB) to protect consumers against predatory lending and unfair financial practices; it established the Financial Stability Oversight Council(FSOC) to monitor systemic risks and designate firms as "systemically important"; and it created the Orderly Liquidation Authority to wind down large failing financial institutions without taxpayer bailouts.

Key regulatory changes include the Volcker Rule, which restricts banks from making speculative investments with depositor funds; requirements for derivatives to be traded through regulated clearinghouses; enhanced Federal Reserveoversight of large financial institutions; and new standards for mortgage lending and credit rating agencies. The law also strengthened whistleblowerprotections and established data collection requirements for small business lending.

Dodd–Frank is considered one of the most significant financial laws since the New Deal. The CFPB has returned over $21 billion to consumers harmed by illegal practices. Critics argued the law imposed excessive compliance costs on smaller financial institutions, and in 2018, the Economic Growth, Regulatory Relief, and Consumer Protection Act rolled back certain requirements, particularly for banks with assets below $250 billion.
 
The agency was originally proposed in 2007 by Elizabeth Warren while she was a law professor and she played an instrumental role in its establishment.The CFPB's creation was authorized by the Dodd–Frank Wall Street Reform and Consumer Protection Act, whose passage in 2010 was a legislative response to the 2008 financial crisis and the subsequent Great Recession,and is an independent bureau within the Federal Reserve.

Since its founding, the agency has returned more than $21 billion to consumers who were defrauded by financial institutions. The agency has established or proposed rules to cap overdraft charges and credit card late fees; prohibit medical debt from credit reports; limit the ability of data brokers to sell personal data; and limit predatory payday loan practices.The agency is funded through penalties collected with its enforcement actions and through transfers from the Federal Reserve.

Throughout its existence, the CFPB has been persistently targeted by Republican politicians and the financial industry.The CFPB's status as an independent agency has been subject to many challenges in court. In June 2020, the United States Supreme Courtruled that the president can remove the director without cause but allowed the agency to remain in operation. In 2024, the Supreme Court affirmed the constitutionality of the CFPB funding mechanism prescribed by Congress. At the outset of his second presidential term, Donald Trump appointed an acting director who immediately ordered the CFPB to stop regulatory activity
 
Lionfish said:
Barney Frank was instrumental in creating the home mortgage crisis. He lied about the solvency of Fannie and Freddie. The man was arrogant and incompetent.
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but it took bankers themselves to rate these known bad loans as triple AAA and then resell them into the investment market as a new product.

be fair.

bankers are also trash.
 
Ichabod Stain said:
but it took bankers themselves to rate these known bad loans as triple AAA and then resell them into the investment market as a new product.

be fair.

bankers are also trash.
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Of course the banks moved those loans. They wanted to stay in business.

The question should be, why were they given in the first place?
 
Lionfish said:
Of course the banks moved those loans. They wanted to stay in business.

The question should be, why were they given in the first place?
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they bribed the ratings agency and lied about their products.

they;re also criminals.

you need to quit sucking banker cocks.
 

Significant Rollback of Dodd-Frank Signed Into Law - Yale Journal on Regulation

On May 24, 2018, President Trump signed into law “Economic Growth, Regulatory Relief, and Consumer Protection Act,” to date the most significant rollback of the financial regulatory framework set up by the Dodd-Frank Wall Street Reform and Consumer Protection Act (enacted in 2010). The bill had...
www.yalejreg.com www.yalejreg.com


Trump and republicans have whittled away at the protections in Dodd Frank
 
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