If Only He Were So Passionate About OUR Money

July 28, 2010 Craig Pirrong

Barney Frank threw a fit when he was refused a senior discount. For $1. Yes. A meltdown over O-N-E dollar:

Massachusetts Congressman Barney Frank caused a scene when he demanded a $1 senior discount on his ferry fare to Fire Island . . . . Frank was turned down by ticket clerks at the dock in Sayville because he didn’t have the required Suffolk County Senior Citizens ID. A witness reports, “Frank made such a drama over the senior rate that I contemplated offering him the dollar to cool down the situation.”

So here we have a guy who is notoriously liberal with other people’s money having a hissy over a buck. An alleged man of the people giving a poor clerk a hard time because he can’t follow the rules.

Would it be too much to ask Frank to show the same miserly attitude about other people’s money as he apparently does with his own?

We all know the answer to that, don’t we?

About Craig Pirrong 238 Articles

Affiliation: University of Houston

Dr Pirrong is Professor of Finance, and Energy Markets Director for the Global Energy Management Institute at the Bauer College of Business of the University of Houston. He was previously Watson Family Professor of Commodity and Financial Risk Management at Oklahoma State University, and a faculty member at the University of Michigan, the University of Chicago, and Washington University.

Professor Pirrong's research focuses on the organization of financial exchanges, derivatives clearing, competition between exchanges, commodity markets, derivatives market manipulation, the relation between market fundamentals and commodity price dynamics, and the implications of this relation for the pricing of commodity derivatives. He has published 30 articles in professional publications, is the author of three books, and has consulted widely, primarily on commodity and market manipulation-related issues.

He holds a Ph.D. in business economics from the University of Chicago.

Visit: Streetwise Professor

If Only He Were So Passionate About OUR Money

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