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Schumer passes on Banking lead; ranking Dem will be Sherrod Brown!
A small bit of potential good news, though Schumer remains a force to be reckoned with:
Schumer Passes on Top Democratic Banking Spot
Dec. 12, 2014, 2:24 p.m.
Wall Street is losing the opportunity for a Democratic ally to take the party’s top spot on the Banking Committee, but the financial sector seems to be banking on that friend playing an even bigger role in leadership.
In a telling reaction to news Friday that Sen. Charles E. Schumer, D-N.Y., would skip the chance to run his party’s side of the panel, the Wall Street-heavy Partnership for New York City, seemed to be on board with their home-state lawmaker’s decision. That is even though it means anti-big bank Sen. Sherrod Brown of Ohio will take the ranking member job.
“New York relies on Senator Schumer to be a strong and effective voice for the city and our financial services industry in Washington, D.C.,” said Kathryn Wylde, the partnership’s CEO. “We are confident that his decision to focus on a leadership role with Senate Democrats, rather than the ranking position on Banking, is based on his assessment of where he can best represent us.”
Schumer will remain a senior member of the Banking panel, and his leadership position in the chamber will provide him a potentially bigger imprint on banking — and all other — legislation.
Dec. 12, 2014, 2:24 p.m.
Wall Street is losing the opportunity for a Democratic ally to take the party’s top spot on the Banking Committee, but the financial sector seems to be banking on that friend playing an even bigger role in leadership.
In a telling reaction to news Friday that Sen. Charles E. Schumer, D-N.Y., would skip the chance to run his party’s side of the panel, the Wall Street-heavy Partnership for New York City, seemed to be on board with their home-state lawmaker’s decision. That is even though it means anti-big bank Sen. Sherrod Brown of Ohio will take the ranking member job.
“New York relies on Senator Schumer to be a strong and effective voice for the city and our financial services industry in Washington, D.C.,” said Kathryn Wylde, the partnership’s CEO. “We are confident that his decision to focus on a leadership role with Senate Democrats, rather than the ranking position on Banking, is based on his assessment of where he can best represent us.”
Schumer will remain a senior member of the Banking panel, and his leadership position in the chamber will provide him a potentially bigger imprint on banking — and all other — legislation.
http://www.rollcall.com/news/schumer_passes_on_top_democratic_banking_spot-238685-1.html?pos=hln
With Brown as ranking and Warren on the committee, things could get very interesting.
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