Frank hears kudos, catcalls for work on bailout legislation
Held a key role in bringing both sides to the table
- |
WASHINGTON - In the course of 18 hours, US Representative Barney Frank went from being castigated as a "coward" during an interview with Fox News host Bill O'Reilly to being hailed by House leaders as the indispensable "maestro" who orchestrated the passage of the financial rescue bill.
The Newton Democrat seemed to revel equally in both moments.
Frank was designated by the House Democratic leadership to shepherd through Congress one of the most unpopular bills in recent history, then explain why it needed quick approval.
As chairman of the House Financial Services Committee, Frank worked closely with the Bush administration - usually a nemesis - while he struggled to bring along skeptical liberals who are suspicious of Wall Street.
Unlike more circumspect congressional leaders, who speak carefully and operate largely behind closed doors, the irascible, rumpled, combative Frank made himself accessible to the press, and typically held forth with reporters in hallways, conference rooms, and television studios.
Famous for his biting wit and willingness to engage nearly anyone in debate, his decision to appear Thursday evening on "The O'Reilly Factor" - a favorite of conservatives - seemed designed to set off sparks.
O'Reilly began the segment by playing a July clip of Frank saying that the quasi-governmental mortgage companies known as
Since then, the government has bailed out the two failing mortgage-related companies and O'Reilly - who has called for Frank to give up his committee chairmanship - said those failures are proof Frank was wrong.
A five-minute argument ensued, with O'Reilly at one point blaming Frank for enticing investors to Fannie Mae and Freddie Mac and Frank rejecting the charge, accusing O'Reilly of taking his words out of context and acting like a "bully."
As the argument grew more heated, O'Reilly fumed, "None of this was your fault! Oh, no. People lost millions of dollars. It wasn't your fault. Come on, you coward! Say the truth."
Frank was incredulous: "What do you mean, 'coward'?"
"You're a coward!" O'Reilly yelled. "You blame everybody else. You're a coward!"
"Bill, here's the problem with going on your show," Frank shouted back. "You start ranting. And the only way to respond is almost to look as boorish as you."
The following morning, Frank was at the pinnacle of his power, on the floor of the House, working to manage the financial rescue bill.
He buttonholed legislators who voted on Monday, assuring them he would use his newfound influence with the Bush administration to put pressure on lenders to help troubled homeowners. Representative Al Green, Democrat of Texas, said Frank's promise was a key reason for switching his vote.
After the bill passed, Frank was front and center at a news conference with House Democratic leaders, who heaped praise on the congressman.
When Frank noted that his staff had to put up with him for long hours during the negotiations, House Speaker Nancy Pelosi laughed and added, "No comment."
Afterward, Frank was reflective - to a point.
"In some ways, it is an out-of-body experience," Frank told a small group of reporters. "I've got to go home and take out the garbage and hope I get to the laundry before it closes at 5 o'clock - and you are doing things that are historic. You read about people and all of a sudden you are one of the people you read about. And then you realize, yeah, they had to go to the laundry, too."
