Barney Frank isn't a czar

Since Henry Paulson introduced his "bailout" plan, the media have treated Barney Frank as its sole source of news on the process of negotiations. Even Chris Dodd played second fiddle to Frank, partly because Paulson chose to negotiate primarily with Frank. It turns out that Barney is just another congressman, chairman of a key committee but ineffective in negotiating for the entire Congress.

Paulson should have known better. He shouldn't have paid Frank as much attention as he did. He should have insisted on bringing House Republicans into the negotiations.

And the media ought to stop being Barney Frank's mouthpiece.