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Barney Frank, in Fight of His Life, Loans Own Campaign $200,000

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Rep. Barney Frank, an influential lawmaker now in the fight of his political life against a Republican challenger, has loaned his own campaign for reelection $200,000.

Frank, the chairman of the powerful House Financial Services Committee, raised more than $316,644 last quarter and has more than $1 million on hand for the stretch run in his campaign against Republican Sean Bielat, Politico reported Wednesday. Bidding for his 16th term in a heavily Democratic district, Frank even brought in former President Clinton to campaign for him earlier this fall. A poll last month showed Bielat had shaved Frank's once-wide lead to 10 points.

Bielat, a 35-year-old business consultant and Marine veteran who says people in the district "are tired of Barney Frank," raised $400,000 last month.

Barney FrankFrank, 70, usually wins re-election by wide margins, but is being pressed enough by Bielat that he has cut down on contributions to colleagues. Normally a generous giver, he has donated only $35,000 to 12 Democratic hopefuls this cycle, compared to $248,000 to 86 candidates two years ago, according to the Center for Responsive Politics and the Wall Street Journal.

Frank, as chairman of a panel commonly referred to as the banking committee, was in the middle of efforts to deal with the financial meltdown in 2008 and the reform of Wall Street regulations enacted earlier this year.

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26 Comments

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duhausmiss

One question about Barney Frank why is now the time to fight for all family's when he has had his seat for many yr's he couldnt fight for us before onley when he might lose his seat.Hopefuly he wont be able to lie to the american public again he votes what ever he is they tell him to another criminal in Washington.What ever happened to the peoples voice it is loud but not heard.

October 21 2010 at 7:34 AM Report abuse +17 rate up rate down Reply
ellocitohobbito

I live in the district and have to say it sure doesn't feel like a "fight for his political life" is occurring. Everything I've seen suggests he'll win no problem--perhaps with just a slightly lower margin than usual. As for those of you don't like him. Like any elected official, he's not perfect. But he's done a very good job for the district and people tend to like him. And putting the housing collapse on his shoulders is of course inaccurate. First and foremost, Dems in the house were virtually powerless from 1994 to 2006. Second, even accepting that he had a degree of influence in policy-setting and at institutions like Fannie Mae, there's plenty of other people and institutions to focus on, on both sides of the aisle. Finally, as for the bailout--call me crazy, but I think the majority of us in MA think it was a necessary evil. The state has large financial services and insurance sectors, and we would have been in a lot of trouble without the bailout. Our district in particular is heavily focused on these sectors (not surprisingly, our district also pays significantly more in taxes than the vast majority of other districts throughout the nation). Anyway, I'll be happily voting for him again, as will I bet about 60 percent of the district. This article is much ado about nothing...

October 21 2010 at 2:22 AM Report abuse -10 rate up rate down Reply
D2

I am baffled. Having spent much of the past two years watching House and Senate hearings on C-SPAN, I have gained enormous respect for Frank. He is, without question, the smartest person and the smartest politician in the House. He knows his stuff and he knows how to count votes. The people in his district should be proud - esp. given some of the true dunderheads in the House.

October 20 2010 at 8:33 PM Report abuse -25 rate up rate down Reply
tensouthllc

I am not surprised by how many people want to blame Mr. Frank for causing the mortgage meltdown. It's a typical right-wing news talking point. And it's patently false. Frank has supported efforts to strengthen oversight of Fannie and Freddie. See http://mediamatters.org/research/200810100022#documented

October 20 2010 at 8:15 PM Report abuse -22 rate up rate down Reply
sueper1818

This year I changed my mind. I'm not voting for Barney Frank. According to the Wall Street Journal (whose facts I trust) Representative Frank was a key player in causing the recession. Incidentally, I blame the policies of both the Democrats and the Republications. due to his support for the "liar" no-documentation loans.

October 20 2010 at 4:26 PM Report abuse +27 rate up rate down Reply
1 reply to sueper1818's comment
realitythink

So you're saying you trust the "facts" of a publication that is owned by Rupert Murdoch? The same person that runs the right wing propaganda cable TV channel? So does this mean you still think that the James O"Keefe pimp, prostitute Acorn expose was filled with facts too?

October 20 2010 at 10:48 PM Report abuse -10 rate up rate down Reply
ahrcshaw

Wouldn't it be nice if Frank, Pelosi, and Reid all got voted out,this would be great for America. Like the man said Dodd and Frank were instrumental in the sub prime rate and mortgage meltdown. Frank was responsible for the Bank Bailout blunder allowing bonuses for failure! See Dodd's new research center "ala" the health care bill. By the way most of these guys get their money by good investments according to MR Reid, Ya because they have inside buying rights. A bill has been put up to stop this perk, this bill has been voted down b/4, I wonder why? Hope the voters up there do their duty and get this guy out.

October 20 2010 at 2:42 PM Report abuse +26 rate up rate down Reply
1 reply to ahrcshaw's comment
ziegler21wp

No it wouldn't.

October 20 2010 at 5:06 PM Report abuse -13 rate up rate down Reply
flagag

everyone now knows that he and chris dodd were the architechs of the sub prime mortgage fiasco.....dodd quit and didn't run and frank should, but probably won't lose....we now face the spectre of 100's of thousands of foreclosures,which never would have happened, except for the dems insistance of fairness and every body deserves their own home whether or not they could afford, AND the dems know that fannie and freddie guaranteed these faulty loans....he should go to jail. ps....george w. bush tried to reign in f and f, but franks committee would not allow it to come to the floor. thanks a lot.........flagag

October 20 2010 at 1:47 PM Report abuse +24 rate up rate down Reply
Terry or Susan

Once again, where do these people get that kind of money to just write a check for $200,000? A Congressman for over 30 years and able to contribute that much cash every couple of years? Barney Frank is one of the reasons this country is in such financial trouble and yet he can contribute to campaign treasure chests? Just sayin.. TDF

October 20 2010 at 11:42 AM Report abuse +44 rate up rate down Reply
trb2244

It's about time...

October 20 2010 at 11:26 AM Report abuse +23 rate up rate down Reply
Rob & Kathy

Frank is one the the biggest players in the housing meltdown. His incompetence will take us years to recover from. Why would anyone want to send him back?

October 20 2010 at 11:18 AM Report abuse +51 rate up rate down Reply

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