Barney Frank’s Legacy of Financial Reform
5/21/202621 min
Barney Frank, the former Democratic congressman, died this week at the age of 86. Frank was best known as the architect of the Dodd-Frank law that reshaped the U.S. financial system in the wake of the 2008 crisis. WSJ’s Damian Paletta talks about Frank’s legacy. Ryan Knutson hosts.
Further Listening:
- The Man Who Waged War on Inflation
- Two Executives on What It's Like to Stop a Bank Run
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Transcript preview
First 90 secondsRyan Knutson· Host0:00
[upbeat music] Former Democratic congressman Barney Frank died on Tuesday. Frank had a huge impact on America's financial system, possibly more than any other politician this century. He was the lead architect of the Dodd-Frank Act, which passed in the wake of the 2008 financial crisis.
Damian Paletta· Guest0:22
Barney Frank, there's no one like him in Congress that I've ever covered.
Ryan Knutson· Host0:27
[upbeat music] Damian Paletta heads the Wall Street Journal's DC bureau.
Damian Paletta· Guest0:31
He was hilarious, he was mean, he was brilliant. He would kinda slump in his chair.
Barney Frank· Soundbite0:39
Ma'am, trying to have a conversation with you would be like trying to argue with a dining room table. I have no interest in doing it. I think that, I love this job, but the biggest problem is there are thousands of people in Washington who earn their living by trying to waste my time. One of the advantages to me of not running for office is I don't even have to pretend to try to be nice to people I don't like.
Ryan Knutson· Host1:02
Frank was elected- Damian first started writing about Barney Frank about 20 years ago.
Damian Paletta· Guest1:06
This was an era when I covered him really from 2006, I'd say, to 2012, an era where a lot of lawmakers were figuring out how to monetize their term in Congress and how to raise tons of money. And he was just the same old Barney, you know, shirt untucked, you know, suit wrinkled, always hair kinda pushed around, and he was, he was kind