U.S. Rep. Barney Frank (D-Mass.) appeared on the Fox Business Network Tuesday to discuss the legislation aimed at closing the loophole in the recent financial regulation laws that allow the Securities and Exchange Commission to keep from disclosing certain information when requested by journalists.
The loophole came to light last month when the SEC denied a request for information from Fox Business Network. Since then, the Society of American Business Editors and Writers and other journalism groups have spoken out against it.
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Barney Frank comes across as arrogant and ignorant. His staff is just as arrogant as they have bungled every opportunity for true financial reforms since taking charge. It would be nice if Congress was ahead of the game for a change instead of constantly wasting resource defending and chasing poor quality work.
I've interviewed Barney Frank many times, and the one adjective that does not apply to him is 'ignorant.' He may be an arrogant jerk-- especially with a partisan media outlet like Fox that has only a nodding familiarity with accuracy-- but he knows every piece of legislative arcana in his realm. He certainly has a much stronger command of the facts than most in Washington.
He may be annoyed in this interview because Fox invented this non-story about the SEC, and is now pushing a narrative about the SEC locking out journalists that is totally divorced from the reality.