Will Obama Hire Yet Another Bank-Friendly Regulator?

[flpoljunkie]

Hmmm. I hope not!

May 27, 2011

Will Obama Hire Yet Another Bank-Friendly Regulator?
By Sebastian Jones

Another day, another Wall Street friendly politico set to regulate the banking industry: Bloomberg reports that former Rep. Scott Murphy, an outspoken advocate of weakening Wall Street oversight, is about to be hired by the Treasury Department.

Who is Scott Murphy? Back during the effort to reform Wall Street, Murphy was one of the most bank-friendly lawmakers in Congress as a member of the New Democrat Coalition. The group was perhaps the most powerful force in the House for weaker regulation of derivatives, the complex financial products that helped tank the economy in 2008.

At the same time, Murphy and the New Democrats raked in campaign contributions from banks, spent quality time their lobbyists at a swank resort, organized fundraising trips to Wall Street, and saw staffers head through the revolving door to work on K Street for the financial industry.

more...

http://www.washingtonmonthly.com/ten-miles-square/2011/05/will_obama_hire_yet_another_ba029856.php

[Autumn]

1. I'm not going to be surprised if

he is hired.

[marsis]

2. Well

I'd be willing to bet on it. How about you?

[Marblehead]

3. but of course!!

[MannyGoldstein]

4. I get it: that was a rhetorical question.

Bankers über alles.

[krawhitham]

5. SO WHAT, WHO CARES, WTF IS WRONG WITH YOU PEOPLE

An employee does the bidding of the employer

As long as he is good at his job and does what he is told WHO CARES

[Autumn]

6. Well that's the problem. In case you missed this part:

"Who is Scott Murphy? Back during the effort to reform Wall Street, Murphy was one of the most bank-friendly lawmakers in Congress as a member of the New Democrat Coalition. The group was perhaps the most powerful force in the House for weaker regulation of derivatives, the complex financial products that helped tank the economy in 2008."

Everyone should care.

[flpoljunkie]

7. Nothing's wrong with us, krawhitham. This possible hire is very worthy of concern.

However, no one requires that you be concerned.

[Name removed]

8. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Citizen Worker]

9. Given the make up of the Obama administration from the beginning I'd be surprised if Scott Murphy

wasn't hired. Murphy, like Obama, is a new democrat. That says it all!

[bhikkhu]

10. Sounds like leftover (R) Tedisco campaign copy

http://www.nytimes.com/2009/03/28/nyregion/28election.html?ref=scottmurphy

Doing a little internet bio-searching, Murphy sounds like a competent guy for the job, with a mix of left and center positions.

[flpoljunkie]

11. No one said he's not competent.