Democratic Rep. Barney Frank announces retirement

NEWTON, Mass. — Democratic Rep. Barney Frank of Massachusetts announced his retirement Monday effective at the end of next year, closing out a congressional career of more than three decades capped by passage of legislation imposing new regulations on Wall Street.

Frank, 71 and a lifelong liberal, won a House seat in 1980 and was one of the first lawmakers to announce that he is gay.

AP Photo/Stephan Savoia

Rep. Barney Frank, D-Mass. responds to a reporter's question after announcing he will not seek re-election in 2012, Monday, in Newton, Mass.

At a news conference, Frank said h...