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Rep. Barney Frank Announces Plans to Retire

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    A look at liberal mainstay's career

  • Duration 2:30
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The politics in the retirement announcement of a liberal mainstay Massachusetts Democrat Barney Frank says this will be his last term in the house.

Correspondent -- -- reports on the controversial and trailblazing congressman.

After sixteen terms as one of the -- most reliably partisan Democrats.

Barney Frank blamed his decision not to run in part of on the difficulty of getting acquainted with his newly re drawn district.

They're going to -- new district.

225000.

People -- And ask them to trust me with.

Being -- advocate on their problems and they Joba by the way that expired in two years that led me to decide -- I should not run.

He also blame the increasing hyper partisanship of congress but the Harvard Law School grad famous for a sharp mind and a prickly personality.

Was often himself accused of fomenting the coarsening of dialogue.

As what he dressed down a constituent during a 2009 town hall.

-- what planet do you spend most of your time frank was often at the center of controversy in 1987 he became the first member of congress to voluntarily admit he was homosexual.

A decision that had no adverse impact on his electability.

Even after his then partner and former prostitute Steve Goldman admitted running an escort service out of -- Washington apartment.

But -- lasting legacy may be his leadership on the house financial services committee where critics say he downplayed the risk of -- lending standards at Fannie Mae and Freddie Mac.

Hold that are occupied.

Made.

She and have been slow in the price at a certain percentage -- but you're not going to see the collapse.

That you see when people talk about a public.

At today's press conference frank denied culpability in the housing crash saying he was among the first to warn of impending risks I did.

Become in 2004.

Concerned about sub prime loans being given out -- is usually if he sounded the alarm on Freddie Mac then.

I would say it was the quiet -- alarm Barney Frank has ever sounded.

In the aftermath of the crash frank helped shepherd a controversial re regulating of the financial services industry that partially bears his name.

Supporters say the Dodd-Frank law minimizes the likelihood of another crash.

Critics say it is overburden the financial services industry -- deepen the recession.

Frank experienced his closest call in the midterm elections of 2010 when Tea Party backed Republican Sean Vila mounted a credible fight against -- force franks who lent his own campaign.

200000 dollars.

And may have discouraged him from election battles to come Chris.

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