Barney Frank Taps Retirement for $200,000 — to Avoid Being Retired

Ace political strategist Dick Morris says there is a decent chance that liberal Democrat Barney Frank of Massachusetts will lose his congressional race to Republican challenger Sean Bielat. Perhaps that explains why Frank is lending his campaign $200,000. The money will come out of his retirement savings, Roll Call reports.

Frank, chairman of the House Financial Services Committee, says he must rebut ads from conservative interest groups.

“I will very soon be the target of a flood of right-wing attack ads by organizations that are angry about the tough financial regulation bill that I helped pass last year, by others which are angry about my outspoken advocacy for issues with which they disagree, and in some cases fueled by money raised because of the bigoted, anti-gay remarks by Rush Limbaugh and by the extreme members of the tea party movement,” Frank said.

No outside group has spent money against Frank so far.

“Obviously, Barney’s reading the tea leaves,” Bielat spokeswoman Lisa Barstow said.