Co-author of Wall Street reform legislation will not seek re-election

Aides to Democratic Rep. Barney Frank, who helped to craft the landmark overhaul of financial regulations that bears his name, said today that he will not seek re-election in 2012, Reuters reported. Frank, 71, has represented his Massachusetts district since 1981 and is known for his acerbic wit, as well as his detailed knowledge of banking and housing regulations. With Democratic Sen. Christopher Dodd, Frank led a comprehensive overhaul of Wall Street regulations following the 2007-2009 financial crisis. The Dodd-Frank Wall Street Reform and Consumer Protection Act passed in 2010 with little Republican support and ranks as one of the most ambitious legislative efforts of President Barack Obama’s administration.

Aides to Democratic Rep. Barney Frank, who helped to craft the landmark overhaul of financial regulations that bears his name, said today that he will not seek re-election in 2012, Reuters reported. Frank, 71, has represented his Massachusetts district since 1981 and is known for his acerbic wit, as well as his detailed knowledge of banking and housing regulations. With Democratic Sen. Christopher Dodd, Frank led a comprehensive overhaul of Wall Street regulations following the 2007-2009 financial crisis. The Dodd-Frank Wall Street Reform and Consumer Protection Act passed in 2010 with little Republican support and ranks as one of the most ambitious legislative efforts of President Barack Obama’s administration.