Frank pushes for punishment for crisis

Politico reports:

House Financial Services Chairman Barney Frank (D-Mass.) is pressing state and federal authorities to seek criminal and civil penalties on financial actors that helped cause the current crisis.

"Rules don't work if people have no fear of them," Frank said at a press conference Thursday.

He announced a hearing March 20 with Attorney General Eric Holder, bank regulators and the Securities and Exchange Commission as witnesses to discover what their plans are to prosecute irresponsible and in some cases criminal behaviors.

You've got to love the irony here: this is Barney Frank(Democrat-Fannie Mae) saying this.One could argue Barney Frank should turn himself in right now instead of waiting until March 20.