Wall Street Lobbyists Worried Sherrod Brown Could Become Banking Committee Chairman

[Mass]

(which means it would probably be a great choice)

http://www.huffingtonpost.com/2013/03/27/sherrod-brown-banking-committee_n_2962200.html

WASHINGTON -- The departure of Senate Banking Committee Chairman Tim Johnson (D-S.D.) has left a vacancy atop the powerful panel that could fall to one of Wall Street's most outspoken foes, a possibility that has bank lobbyists fretting.

Sen. Sherrod Brown (D-Ohio), whose call to break up and cap the size of major banks has spooked Wall Street, is behind three senators who would have dibs on the gavel, but all three are likely to bypass the opportunity. A Brown chairmanship would also be a boost to his ally Sen. Elizabeth Warren (D-Mass.), strengthening her hand on the panel. Brown's office didn't immediately return a request for comment.

Sen. Jack Reed (D-R.I.) is first in line, but is widely expected to take the Armed Services chairmanship instead. A West Point graduate, Reed has a passion for Pentagon issues, and the plum chairmanship will open in 2015 thanks to the retirement of Sen. Carl Levin (D-Mich.).

Unfortunately, he is not next in line. So, it will probably depend on Schumer's ambitions.

Next in line is Sen. Chuck Schumer. The fate of the chairmanship hinges on the decision of the New York senator, known to some as "Wall Street Chuck." Seizing the gavel could undermine Schumer's ability to ultimately ascend to majority leader by alienating the growing progressive wing in the Democratic caucus. Passing the opportunity to Brown, on the other hand, could win him friends for a future bid. "It is possible. All up to Schumer," one senior Senate Democratic aide said on background, when asked about the possibility of Brown taking over.

But it's far from obvious that a Schumer chairmanship would be an automatic boon to Wall Street. Under the national glare, Schumer has been less friendly to his one-time staunch allies on Wall Street and as chairman would be watched closely. A handful of Senate Democratic aides quickly surveyed for this story thought that Schumer was more likely to take the gavel than pass it up.

[JI7]

1. that's a huge difference in what could happen

but i still don't want Schumer as Majority leader either.