senate-banking-committee

politico.com
Trump follows Obama’s political blueprint
Nobody wants to admit it, but the new president's early moves look at lot like the old president's. By BLAKE HOUNSHELL and DANIEL LIPPMAN

I’ll protect your livelihoods, the newly elected president promised factory employees whose jobs were in danger.

I’ll save you money by rejecting a costly overhaul of my own aircraft, he told taxpayers a couple of weeks later.

I’ll spend billions to repair the country’s crumbling roads and bridges, creating jobs in the process, he told Congress.

I’ll sell my agenda by using the bully pulpit, he told the press, holding rallies around the country and shaming corporate greed that comes at the expense of ordinary people. And to do it all, he would set up a new political organization to pressure anyone who refused to play along.

His opponents were horrified, and said he was abusing the power of the Oval Office.

The year was 2009. The new president was Barack Obama.

Flash forward to today: Donald Trump is following much the same political blueprint his predecessor and longtime adversary laid out years ago, signaling he’ll actively intervene in the U.S. economy while antagonizing free-marketeers who say his meddling will end in disaster. It’s a funhouse-mirror version of Obama’s early image of the presidency — the man of action for down-and-out Americans who desperately want to see that somebody is on their side.

Read more here

politico.com
The Senate's next millionaire class?
Democrats are fielding a cadre of candidates richer than their GOP opponents. By SEUNG MIN KIM

If Democrat Evan Bayh wins the Indiana Senate seat in two weeks, he’ll be one of the richest members of a chamber already heavily stocked with millionaires.

And while Bayh’s eight-figure net worth may grab headlines, other Democrats vying for the Senate this year have all done well for themselves, with many of them richer than their Republican opponents.

According to a POLITICO review of personal financial disclosures, five of the Democratic candidates in seven key Senate battlegrounds — Indiana, North Carolina, Missouri, New Hampshire, Pennsylvania, Nevada and Florida — appear to be wealthier than the Republican in the race. And this year, the politics of a candidate’s wealth has become an issue in some Senate races, including for Bayh in Indiana and Richard Burr in North Carolina.

Read more here

When Senator-elect Elizabeth Warren gave her victory speech on election night at a party where loudspeakers blared “Ain’t No Stoppin’ Us Now,” she pledged to “hold the big guys accountable.” Now, some bankers, their lobbyists and their Republican allies on the Senate banking committee reportedly would like nothing better than to keep Ms. Warren off the powerful bank panel — where she could do the most harm to the status quo, and the most good for the country.
Elizabeth Warren Wins Senate Banking Committee Seat

Okay, some things are just meant to be and this is one of them! Great news!!

Nearly two years after Wall Street waged a successful campaign to keep consumer advocate Elizabeth Warren from running the Consumer Financial Protection Bureau, the incoming senator will be tapped to serve on the Banking Committee, according to four sources familiar with the situation. It’s a victory for progressives who battled to win her a seat on the panel that oversees the implementation of Dodd-Frank and other banking regulations.

huffingtonpost.com
Elizabeth Warren Wins Senate Banking Committee Seat

Nearly two years after Wall Street waged a successful campaign to keep consumer advocate Elizabeth Warren from running the Consumer Financial Protection Bureau, the incoming senator will be tapped to serve on the Banking Committee, according to four sources familiar with the situation. It’s a victory for progressives who battled to win her a seat on the panel that oversees the implementation of Dodd-Frank and other banking regulations.

Warren knocked out Republican Sen. Scott Brown of Massachusetts in the most expensive Senate contest of 2012, with Wall Street spending heavily to beat Warren, a former Harvard law professor.

Sources also told HuffPost that Sen. Joe Manchin (D-W.Va.) will be named to the panel.

If you’re caught with an ounce of cocaine, the chances are good that you’re going to go to jail. If it happens repeatedly, you may go to jail for the rest of your life. But evidently, if you launder nearly a billion dollars for drug cartels and violate our international sanctions, your company pays a fine and you go home and sleep in your own bed at night. Every single individual associated with this. I just think that’s fundamentally wrong.
—  Elizabeth Warren, Senate Banking Committee Hearing- Bank Money Laundering (beginning at 7:05) http://www.youtube.com/watch?v=7cKTBy7_S_I&feature=youtu.be
The Democratic senator from Massachusetts had a straightforward question for them: When was the last time you took a Wall Street bank to trial? It was a harder question than it seemed. “We do not have to bring people to trial,” Thomas Curry, head of the Office of the Comptroller of the Currency, assured Warren, declaring that his agency had secured a large number of “consent orders,” or settlements. “I appreciate that you say you don’t have to bring them to trial. My question is, when did you bring them to trial?” she responded. “We have not had to do it as a practical matter to achieve our supervisory goals,” Curry offered. Warren turned to Elisse Walter, chair of the Securities and Exchange Commission, who said that the agency weighs how much it can extract from a bank without taking it to court against the cost of going to trial. “I appreciate that. That’s what everybody does,” said Warren, a former Harvard law professor. “Can you identify the last time when you took the Wall Street banks to trial?”
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Elizabeth Warren Embarrasses Hapless Bank Regulators At First Hearing: Huffington Post. Video at the link.

This is quite nice.