Cato’s Mark Calabria – a GMU Econ alum – reviews Barney Frank’s autobiography (Frank). In this autobiography, Frank admits (as Mark conveys the fact) that he [Frank]
“had not thought a great deal” about financial markets prior to taking this leadership position [on the U.S. House of Representatives Financial Services Committee].
….
It’s astonishing the choices and actions that people in politics will confess without embarrassment to having taken – choices and actions that, if taken by people in the private sector, would be causes for, at least, profuse apologies and, more likely and justly, for lawsuits alleging fraud and gross recklessness.
