Tuesday, November 29, 2011

The Not Good News and the Bad News

Rep. Barney Frank (D-MA) is retiring, and that's not good news. Rep. Frank has been one of the more vocal and passionate voices for financial sector reform, and his vigor and assertiveness will be sorely missed in the chamber.

In line to be Frank's replacement as ranking member of the Financial Services Committee is Rep. Maxine Waters (D-CA). And that's bad news -- Waters not only has a ton of corruption allegations swirling around her, but those corruption allegations are specifically tied to banks. To be sure, while Waters is next in line on a seniority basis, no decision has been made on this question as of yet.

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