When Massachusetts Congressman Barney Frank announced that he would not seek a 16th term as representative from the Bay State, you could hear the sigh of relief on Wall Street.
Traders cheered that Frank wouldnâ??t be around to monitor their every move, and TV anchors rejoiced at the prospect of never having to be heckled by the prickly Frank again. But there is more to Frankâ??s retreat than meets the eye and behind that decision some insights into public opinion and the state of regulation three years after the bubble burst.
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