Frank Taunts GOP On Fannie And Freddie

Never one to let an accusation go unanswered, Rep. Barney Frank responded Tuesday afternoon to allegations that he and other Democrats are afraid to investigate improprieties at Fannie Mae and Freddie Mac.

House Republicans are calling for a Justice Department probe into the matter, alleging that Democrats are unwilling to take on the mortgage giants.

Frank said that only when Democrats took control of Congress in 2006 did any serious attempts at regulation of Fannie and Freddie begin, after years of neglect by Republicans.

“In an unusual event, even by this year’s standards, House Republicans appear to be demanding a criminal investigation of their failure to legislate,” said Frank in a statement.

“The Republican demand that their legislative record of non-action be investigated appears to be the political equivalent of the note left to the police by serial offenders: stop me before I do not legislate again.”