Rep. Maxine Waters (D., Calif.) was tapped Tuesday by House Democrats to serve as the ranking member on the influential House Financial Services Committee, promoting a vocal liberal who has long been critical of Wall Street. Ms. Waters will succeed Rep. Barney Frank of Massachusetts, who is retiring at the end of the year, as the top Democratic voice on banking and financial services matters in the House of Representatives...Outspoken and not afraid to go toe-to-toe with Republicans, Ms. Waters is in her 11th term in Congress. She’ll be joined at the head of the dais by Rep. Jeb Hensarling (R., Texas), who was chosen by House Republicans to serve as chairman of the panel next year. [WSJ, earlier, related]
The House Financial Services Committee Would Also Like A Word With John Stumpf
Just a friendly li'l chat.
House Democrats Bungle Bank CEO Hearing So Badly That Lloyd Blankfein Somehow Wins The Day
This was a true waste of everyone's time.
Meredith Whitney Not Worried About Jamie Dimon's Ability To Handle House Financial Services Committee, Unlike Some Chief Executives She Knows
As you may have heard, later today Jamie Dimon will once again testify on Capitol re: a certain whale's multi-billion dollar losses. Unlike last week's hearing, conducted by the relatively reasonable Senate Banking Committee, this time Dimon will face questions and screeching from the relatively bat-shit House Financial Services Committee, a group of people we hope will not hold back. Yet despite the HFSC's history of making witnesses look good, not matter how egregious their offense, by conducting inquiries in a manner that would suggest recreational bath salts abuse by the Congressmen and women, Bloomberg's Tom Keene expressed worry earlier this morning about Dimon's ability to navigate the hearing. Would today be "tougher" for the JPM chief, Keene asked Bloomberg TV Surveillance guest Meredith Whitney? According to the analyst, Dimon be more than fine and while we're on the subject, not that you asked, she can think of another bank CEO who'd crack under Congressional questioning on account of the fact that he doesn't have eyes you could get lost in. So, 1. How dare you, lady? Lloyd's impish smile and comedic timing don't do it for you? And 2. We thought these kind of blows were reserved for Vikram. Banking Industry Must Reinvent Itself, Says Whitney [Bloomberg TV] Related: Meredith Whitney Cannot Stress Enough How Little She Thinks Of Citigroup