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Barney Frank will not seek reelection in 2012

By Stephen C. Webster
Monday, November 28, 2011 10:11 EDT
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Rep. Barney Frank (D-MA) speaks at the Kimmel Center for the Performing Arts on June 5, 2007. Photo: Flickr user Payton Chung
 
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Congressman Barney Frank (D-MA), a long-serving member of the powerful House Financial Services Committee, will not seek reelection, according to published reports Monday morning.

He planned to explain his reasoning during a press conference later Monday, sources reported.

Frank has served Massachusetts’ fourth Congressional district since 1981, and is the first openly gay member of Congress.

Over his long career, he has played an instrumental role in passing significant legislation such as the Dodd-Frank Wall Street Reform and Consumer Protection Act, which imposed regulations on how financial firms trade in risk-laden derivatives markets, leveraged capital requirements for banks that carry more debt than assets, and mandated the creation of a Consumer Financial Protection Bureau.

He previously served as a member of the Massachusetts House of Representatives.

Photo: Flickr user Payton Chung.

Stephen C. Webster
Stephen C. Webster
Stephen C. Webster is the senior editor of Raw Story, and is based out of Austin, Texas. He previously worked as the associate editor of The Lone Star Iconoclast in Crawford, Texas, where he covered state politics and the peace movement’s resurgence at the start of the Iraq war. Webster has also contributed to publications such as True/Slant, Austin Monthly, The Dallas Business Journal, The Dallas Morning News, Fort Worth Weekly, The News Connection and others. Follow him on Twitter at @StephenCWebster.
 
 
 
 
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