Barack Obama

Politicians And Regulators Tread Lightly Around JP Morgan Debacle

Brian Beutler | May 15, 2012, 5:00AM

Occupy Wall Street protesters outside a GOP event in Manchester, NH. January 07, 2012

The revelation that banking giant JP Morgan lost $2 billion making risky bets with depositor funds is only four days old, but early indications suggest that the financial industry's capture of American government successfully weathered the 2008 crisis, with nearly all the political and regulatory players invested in the consequences of this latest debacle treading lightly around the questions it raises.

It has, however, re-energized outside advocates of strengthening financial reform -- including a certain high-profile Senate candidate -- and left those who favor repealing the 2010 Dodd-Frank Wall Street reform law in an untenable position.

Read more »

Scott Brown

GOP Fractures Further Over Payroll Tax Mess

Brian Beutler | December 20, 2011, 3:23PM

Speaker John Boehner (R-OH)

House GOP aides basically admitted this to reporters yesterday, but it bears repeating. The reason they fashioned a Rube Goldberg-esque procedural device to kill the Senate payroll tax cut compromise is that they know they're now in political free fall on the issue. By doing things the way they did, at least vulnerable House Republicans can say that they didn't vote against a tax cut for the middle class.

This was probably the only way House GOP leaders were ever going to get the minority of their caucus on board with the vote. And if you want proof, look no further than the handful of Republicans who defected from their leadership Tuesday. Or, better yet, vulnerable Senate Republicans who are in cycle in 2012.

Read more »

Chuck Grassley

Snowe, Hatch Poised To Take Top GOP Slots On Major Committees In January

Brian Beutler | November 10, 2010, 12:14PM

Republicans didn't pick up the Senate last week. But they did pick up six seats and will have several new members coming to town next year, which means the committees will be rejiggered -- and the leaders of those committees will play the biennial game of musical chairs.

According to top aides, the reshuffling won't be too dramatic this time around. On any particular committee, Democrats adhere to a seniority system to determine who moves up the ladder. Republicans let the members choose who gets the top spot.

With that in mind, here's one likely reshuffling scenario.

Read more »

Chris Dodd

Reformers Eye Schumer's Role In Wall Street Negotiations

Brian Beutler | May 26, 2010, 3:29PM

Sen. Chuck Schumer (D-NY)

Progressives are hoping to keep congressional Wall Street reform negotiators on their best behavior as they iron out the difference between House and Senate legislation. But they fear that at least one Democratic conferee might be a bit meddlesome: Sen. Chuck Schumer (D-NY) is the fourth ranking member on the Bankng Committee, who, despite close ties to Wall Street, laid very low during the financial reform floor fight, raising his head only occasionally to support fellow Democrats as they worked to advance and improve the bill.

Now suddenly he's one of only a small number of legislators who will get to influence the final product.

"It did surprise me," said Robert Borosage, co-director of the Campaign for America's future. "I didn't expect him to be on it, I have to admit. I assume he must have really asserted himself to get that position."

Read more »

Retirement

Report: Sens. Johnson, Cantwell To Take Over Dodd And Dorgan Chairmanships

Rachel Slajda | January 6, 2010, 1:03PM

Sen. Christopher Dodd (D-CT) and Sen. Byron Dorgan (D-ND).

Sources tell The Hill that Democrats have chosen Sens. Tim Johnson (SD) and Maria Cantwell (WA) to take over the committee chairmanships that retiring Sens. Chris Dodd and Byron Dorgan will leave at the end of the year.

Johnson will take over Dodd's post on the Banking Committee. Senate leaders said in September that Johnson would succeed Dodd if Dodd chose to take over Sen. Ted Kennedy's seat on the HELP Committee. (Harkin took that chair instead.)

Cantwell will become chair of the Indian Affairs Committee. Although she is not the next ranking member, the four senators ahead of her already have chairmanships.