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Barney Frank will not seek reelection in 2012

Massachusetts Rep. Barney Frank, the powerful top Democrat on the House Financial Services Committee, will announce Monday that he is retiring from the seat he has held for more than three decades.

Frank is slated to hold a press conference at Newton City Hall to discuss his decision, according to his office.
During his 16 terms in office, Frank emerged as an icon – a no-holds-barred, often cantankerous liberal who was at the center of the House’s most contentious policy debates – most recently playing a key role in designing the 2009 bank bailout and the financial regulatory overhaul.

His decision comes as a shock to the Massachusetts political world and to Washington – few thought Frank was a likely retiree.

In early February, Frank released a statement from his congressional office announcing he would seek reelection.
By ALEX ISENSTADT
http://www.politico.com/news/stories/1111/69201.html