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Banking Panel Approves Obama’s SEC Choices

Senate Banking Panel Approves Obama Sec ChoicesThe Senate Banking panel secured enough votes to move forward with two of Barack Obama’s choices to lead the financial regulatory agencies.

Unfortunately for the administration his pick of Cordray to  handle the new consumer bureau faces a tough path to get anywhere near confirmation.

Obviously the democrats who control the banking committee had more than enough votes to move forward but all of the Republicans on the same panel voted against him.

Little objection was made over U.S. Attorney Mary Jo White who was nominated to head the Securities and Exchange Committee but the full senate will have the final vote.

Businesses Jockey for Bipartisanship Rather Than Favoritism

Although business leaders as well as Republicans have not overly objected to either candidates, both groups would like to see the bureau ran by a bipartisan group rather than whomever the President feels will compliment his personal agenda. Not a matter of petty politics but rather a matter of equality in the management of the banking and financial institutions; mainly Wall Street.

 

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