After my Wall Street Journal Op-Ed gave Massachusetts Congressman Barney Frank serious shit for personally intervening with GM’s turnaround plans—to save a parts distribution warehouse in his district—the WSJ has gone on the attack. OK, sure, they would have done it anyway. It probably had nothing to do with me whatsoever. Anyway, personal ego issues aside, the WSJ‘s forced Barney to explain his influence-peddling. Apparently, it was OK for the TARP-meister to ring-up GM CEO Fritz Henderson and ask (demand?) for the Norton facility to remain open because . . . it’s not a factory or a dealership. The headline above offers the politician’s distinction. Which begs a number of questions: how is a parts distribution center environmentally friendly? Does he seriously expect us to believe that he acted to save the planet? And if he can mess with GM, what’s to stop his colleagues?
He said keeping the distribution center open was environmentally sound because otherwise auto parts would have had to be trucked to New England from a facility in Philadelphia. Mr. Frank also waved off a suggestion that the episode proved that rules are needed to stop lawmakers from jawboning to keep plants or dealerships open.
“I can’t make the connection” that would give the justification for such rules, Mr. Frank cheerfully says. After all, he added, he didn’t call the Obama administration to keep the Norton facility open, but instead went right to GM management.
WTF? WSJ writer John Fund goes for the kill.
Hmm. That’s an argument that disproves any hope of GM being run in a “nonpolitical” matter. On the contrary, the administration might have to intervene regularly just to protect the company from 535 legislators. GM Chief Henderson is hardly in a position to ignore requests from powerful committee chairmen like Mr. Frank, because GM will never be done needing government favors, from tax rebates for car buyers to fine-tuning of mileage rules.
This man is one of the biggest bozos in Congress. How he came to a leadership position is beyond me.
“…the administration might have to intervene regularly just to protect the company from 535 legislators…”
Just one of the reasons why GM and the taxpayers would have both been better off with a non-government bankruptcy. Political meddling like that coming from Barney Frank just ups the cost for everybody. Besides the guy is a lightweight political hack. In a recent interview he exhibited an incredible misunderstanding of the basic rights of shareholders of publically owned corporations…and he’s Chairman of the Committee on Financial Services.
My God, doesn’t this man just look like someone out of central casting stereotyped as just what he is? A sleazebag.
I had to avert my eyes.
Some things you just can’t un-see, which is a pity.
I believe that I saw this Barney Frank guy in the following video:
http://www.ireport.com/docs/DOC-211744?ref=email
And a little further south, you have my Congressman, Patrick Kennedy. Actually, he’s now at a return engagement at some Betty Ford clinic/B&B, so you and we don’t have him. Actually, that’s better all the way around.
I know I need to tie this in with cars, however loosely. Here goes. 1997 Mustangs are quite durable, as proven by Cong. Kennedy’s attempted bulldozing of a Capitol barricade using one.
“I can’t make the connection” that would give the justification for such rules, Mr. Frank cheerfully says.
Of course he can’t. Taken at his word, he can’t make any connection between anything he does, what’s going on around him, and society in general. Remember this guy had a brothel being run out of his home and didn’t seem to notice, if we take him at his word.
While I agree it would have been better for Frank not to have gotten involved in this, I’d like to play devil’s advocate for a minute.
First, the distribution center’s closing is only being delayed. It will still close. Obviously, the principle is the same, but perhaps the transgression is not as bad.
Next, its likely Frank would have intervened regardless of the government’s financial ties to GM. After all, items mentioned by Fund such as tax rebates and mileage targets would be available as carrots and/or sticks in any case. So, this is not exactly an issue tied to GM’s bankruptcy.
Most important, however, is how we even came to know about this incident. Far from it being a “smoke filled room” act conducted behind the scenes, Frank took full credit via a press release. Whether you approve of what was done or not, it is important to acknowledge that at least there was transparency. Who knows what is being done outside of public view?
So, while I disagree with Frank’s actions, I’m don’t think it really amounts to as serious an offense as some would make it seem.
I don’t expect anyone to do anything about Mr. Frank since his pals are changing running the show.
a douche by any other name.
east coasters must be SO proud!
Pweese, Wobowt, wemove the picture of that man fwom this beautiful web site!
@dwford- it’s not who you know…it’s how bent you are.