I double-checked my calendar and today is NOT April 1. Therefore, it’s really hard to explain this:
CNBC is happy to announce that former Congressman Barney Frank has joined @CNBC as our latest contributor
— Ryan Ruggiero (@RyanRuggiero) December 20, 2013
To put this joyous news in better context, here are just a couple reminders of Barney Frank’s economic expertise:
Sept. 10, 2003: “I worry, frankly, that there’s a tension here. The more people, in my judgment, exaggerate a threat of safety and soundness, the more people conjure up the possibility of serious financial losses to the Treasury, which I do not see. I think we see entities that are fundamentally sound financially and withstand some of the disaster scenarios…”
Sept. 25, 2003: I do think I do not want the same kind of focus on safety and soundness that we have in OCC [Office of the Comptroller of the Currency] and OTS [Office of Thrift Supervision]. I want to roll the dice a little bit more in this situation towards subsidized housing…
In 2005: What housing bubble?