Barney Frank got into what Housing Wire's Jessica Huseman describes as a "cat fight" today with CNBC's Brian Sullivan. Frank took umbrage at Sullivan interrupting Frank in the midst of an answer to a question, and Sullivan's repeated warning that he needed to interrupt because he was waiting for the president rang hollow, not only to Frank but to any disinterested listener, since, as Ms. Huseman points out, "this president has been at least a half hour late to just about every speech he’s ever given since the start of his presidency." On the other hand, Frank complaining about someone else treating him rudely is like Lindsay Lohan calling out anyone for abusing blow. "Pot, meet kettle!"
You can view the entire "cat fight" here. From my standpoint, it's impossible to pick a cat to root for. They both deserve to be bagged in burlap and flung from the middle of the Royal Gorge Bridge.
Jessica cuts to the chase, though.
Barney Frank, who was on-air originally to talk about the GOP’s efforts to water down Dodd-Frank regulations on derivatives, essentially said his self-titled legislation still doesn't go far enough. He said there should be complete transparency in the prices of derivatives — something that would change the entire nature of the derivatives market.
Derivatives rely on their ability to be kept under wraps. Transparency on the level Frank is advocating would shake the market and distort the ability of the buyer and seller to reach a price on their own. Pricing deals in secrecy is a cornerstone of the market, one that Dodd-Frank seeks to disassemble.
But did Sullivan touch on any of that? No. Why? Well, he was waiting on the president.
He'd have been better off waiting for Godot.
If Jessica keeps up this level of delicious snark, I might have to beg her to guest post.
