A 16-term legacy studded with legislative accomplishments. Among them: his work on the House Financial Services Committee, which he chaired from 2007 through 2011, and his co-authorship, with former Senator Chris Dodd of Connecticut, of the Dodd–Frank Wall Street Reform and Consumer Protection Act that was signed into law in 2010. With Mr. Frank leaving Congress, Wall Street is losing a major critic.
“No dumb people got America into this problem. You had to be really smart to understand collateralized debt obligation derivatives.” – to The New York Times, in 2008
“We are at a moment now when liberalism is poised to have its biggest impact on America since Roosevelt, because the conservative viewpoint has been so thoroughly repudiated by reality. Someone asked Harold Macmillan what has the most impact on political decisions. He said, ‘Events, dear boy, events.’ Events have just totally repudiated them, and we’re now in a position to take advantage of that…You know Hegel. Thesis: No regulation at all. Antithesis: Now the government owns the banks. What I gotta do next year is the synthesis.” – to The New Yorker
Frank’s War of Words Against Wall Street