Markets

Massachusetts Congressman Barney Frank Announces Retirement

U.S. Rep. Barney Frank, a Massachusetts Democrat who was a major architect of the Dodd-Frank financial regulatory bill, announced he will not seek re-election next year .

Known for his acerbic wit and liberal leanings, Frank said on Monday that he will leave Capitol Hill next year when his current term expires. Frank has served in the House of Representatives for the past 30 years, drawing the scorn of Republicans and the backing of Democrats.

The Boston Globe reports Frank, whose home district includes Newton, Massachusetts , survived a hotly contested election in 2010. Frank was one of the first openly gay public officials, and analysts said a redrawn district now encompassing more conservative communities likely prompted his decision to forego another term in office.

Know for his irascible and combative nature, Frank has long been a fierce consumer advocate, championing enhanced financial regulations in the wake of the housing meltdown. In a press conference, Frank's prose was laced with his characteristic sense of humor.

"I don't have to pretend to be nice to people I don't like," Frank affirmed. " It would have been a rough campaign," he conceded. "I don't like raising money."

Frank currently serves as the top Democrat on the House Financial Services Committee .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

US Markets