Banking Law

Barney Frank: Corporate Governance Expert

House Financial Services Committee Chairman Barney ("Boy George") Frank flew off the deep end this morning when CNCB's Mark Haines challenged the basis for Frank's argument that shareholders of banks and other businesses must have a right, mandated by federal law, to set executive compensation, a matter that is currently left to boards of directors. Rather than let Haines finish his question, Frank interrupted him and, when Haines tried to finish the question over Frank's interruption, Frank accused Haines of interrupting him, erupted, and abruptly ended the interview. Rather than apologize, Haines dismissed him with a gesture that amounted to "goodbye and good riddance."

You can view the video of the brief exchange yourself and decide whether Barney's hissy fit was justified or not.

As The Deal.com's Maria Woehr observed, the interesting question is why Frank bothered to answer the other questions posed by Haines and two other reporters, but threw a tantrum over the final question. My guess, which is only a guess, is that Frank was irritated and under the gun because he was late to a filming session of a music video of his latest hit record (currently number 6 "with a bullet" on Billboard's "Adult Contemporary" chart), "Banking Queen." It's obvious that the video was put together in a hurry. Nevertheless, whatever defects might mar the images, there is no denying the power of Frank's wispy, lispy song stylings, nor the raw power of the lyrics.

Oooooooo

Oooooooooo

You can build.

You can buy.

Any house your heart desires.

Oo zero down.

Financing.

I am the banking queen.

Friday night and your cash is low.

I know a place that you can go.

Oh, get your house and use it.

Go ahead abuse it.

You can do anything.

Go out and have a fling.

I am the banking queen.

Old and sweet didn?t do a thing.

Banking queen.

Don?t complain or you?ll hear me scream oh yeah.

You can build.

You can buy.

Any house your heart desires.

Oo zero down.

Financing.

I am the banking queen.

Told the bankers hey you guys.

Make the loans or it?s your behind.

My friends at Fannie sure need it.

Do it my way or beat it.

Why are the stocks crashing?

That doesn?t mean a thing.

I?m still the banking queen.

Never spanked for a single thing.

Banking queen.

Don?t complain or you?ll hear me scream oh yeah.

You can build.

You can buy.

Any house your heart desires.

Oo, zero down

Financing

I am the banking queen.

Oooooooo I am the banking queen.

Oooooooo

Full post as published by Bank Lawyers Blog on June 11, 2009 (boomark / email).