I could never figure out why Barney Frank wouldn't crack down on Fannie Mae. But now we know. He was seeking to please Herb Moses, his Fannie lover

One day the world will (eventually) find out the truth. Hopefully. That will take an Independent Special Prosecutor, and probably a few Congressmen to turn states evidence.

But it is my hope that one day we'll understand what drove Chris Dodd, Maxine Waters, Barney Frank, Chris Cox, Phil Graham, George Bush and all the rest to destroy America.

And I think the truth will shock us.

Here's a little bit on Barney and his Fannie lover (no pun intended). When you're sleeping with Fannie's product development team, you probably turn a trick or two in their favor, eh? Who cares if the world financial system goes down. And no, I don't care that Barnie is gay, or moral scum. What I do care about is that he f*cked America and the world, all to please his Fannie lover.

Here's the scoop. Hide the children.

In 1991, Barney Frank received an official reprimand for reflecting “discredit upon the House.” The reprimand came as a result of his relationship with a man named Steve Gobi, a male prostitute whom Frank initially paid $80 for sex. Frank later took Gobi to live with him in his home, making him a personal aide. He paid him $20,000 in compensation (unreported to the IRS) and let him use his car. Subsequent investigation revealed that in the course of their relationship, Frank used his congressional office and stationary to fix Gobi’s 33 parking fines. Frank also used his congressional letterhead to write a reference letter to Gobi’s probation officer — Gobi was under court supervision as a convicted felon with a prison record — in which he gave false information. Most damningly, the investigation found that Gobi ran a prostitution ring from Frank’s home. In his defense, Frank asserted he knew nothing of Gobi’s illicit enterprise.

After Gobi, Barney Frank become involved in another questionable — and possibly criminally tainted — relationship with a man called Herb Moses. Moses, whom Frank called his “spouse,” was a high-level executive at Fannie Mae from 1991 until 1998. Dubbed a “mortgage guru” by the National Mortgage News, Moses boasted that he helped develop “many of Fannie Mae’s affordable housing and home improvement lending programs.” It was, of course, these kinds of programs that ultimately led to the collapse of the subprime mortgage market that wiped out trillions dollars from the economy and produced the economic turmoil that we now face. Even though there were those warning against the precarious nature of the enterprise, Barney Frank — whose committee oversees Fannie Mae and Freddie Mac — kept resisting reforms and besmirching those voicing concerns.

When the Bush administration proposed that oversight of Fannie and Freddie be transferred to the Treasury Department, Frank strongly opposed the plan, claiming:

“These two entities… are not facing any kind of financial crisis… The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.”

Frank continued to claim almost until the day of the collapse that the two mortgage giants were financially sound. If we lived in a sane world, Barney Frank would be compelled to testify about his culpability in the current crisis and what role his romantic involvement with Herb Moses — as well as the campaign contributions he received from Fannie and Freddie — played in his shilling for these two moribund institutions.