Liberals rejoice, financial sector weeps: With her election to the Senate, Warren became one of the most powerful people in the country; now, she’s headed to one of the most powerful committees in the Senate. Financial regulation is Warren’s specialty; she helped oversee the distribution of TARP funds in 2009 and essentially created the Consumer Financial Protection Bureau. We can’t imagine the bank lobby wanted her on this committee, but then again, there’s probably not much they could have done to prevent it. (Photo: AP) source
![Warren to nab powerful committee seat? According to several Senate sources, Senator-elect and populist hero Elizabeth Warren has a good chance of getting a seat on the powerful Senate Banking Committee. This is a logical fit for Warren, architect of the Consumer Financial Protection Bureau, and would give her great power in her efforts to curb deceptive and unscrupulous practices on the part of financial institutions. “[G]iven her prominent work on those issues, she would certainly have a very good shot” at getting a spot on the committee, an aide tells Reuters. Having Warren on Banking is essentially the Republicans’ worst nightmare, but it’s worth noting that it’s a nightmare entirely of their own short-sited construction. source](http://25.media.tumblr.com/tumblr_md8mpzSxGQ1qas8z9o1_500.jpg)
Warren to nab powerful committee seat? According to several Senate sources, Senator-elect and populist hero Elizabeth Warren has a good chance of getting a seat on the powerful Senate Banking Committee. This is a logical fit for Warren, architect of the Consumer Financial Protection Bureau, and would give her great power in her efforts to curb deceptive and unscrupulous practices on the part of financial institutions. “[G]iven her prominent work on those issues, she would certainly have a very good shot” at getting a spot on the committee, an aide tells Reuters. Having Warren on Banking is essentially the Republicans’ worst nightmare, but it’s worth noting that it’s a nightmare entirely of their own short-sited construction. source
“Never, ever get complacent in risk.” That was JPMorgan Chase CEO Jamie Dimon’s reply to Alabaman Senator Richard C. Shelby during his testimony before the Senate Banking Committee. Dimon willingly submitted to questions, regarding $2 billion in losses suffered by the bank’s investment division, from the committee Wednesday. source
Video of the morning: As JPMorgan Chase head Jamie Dimon was getting grilled in front of the Senate Banking Committee, a bunch of liberal activists showed up, shouting “STOP FORECLOSURES NOW!” (among other things) before getting kicked out. In case you’d like to watch this ongoing event, click over here.
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