Frank gets moderates to relent (financial control)

Politico ^ | 10/20/2009 | Victoria McGraine

[markomalley]

Moderate Democrats — always courted and often feared in big roll call votes in the House — have backed down from a key fight over financial reform.

House Financial Services Committee Chairman Barney Frank (D-Mass.) has persuaded a bloc of moderates to withdraw an amendment that would have watered down a consumer protection agency bill and shield banks from tougher state laws.

Rep. Melissa Bean (D-Ill.) agreed to pull her amendment with a promise that Frank would continue to work with her to change the bill, though when that change would be made remains uncertain. This amendment, which would have allowed potentially softer federal financial rules to pre-empt individual state laws for banks, was a priority for moderates and the financial industry but was vociferously opposed by consumer advocates and liberals.

In backing down during this week’s committee markup, moderates are giving Frank the power to craft a consumer financial protection agency bill that would grant the federal government a much stronger hand in cracking down on banks.

This concession by moderates — even if it’s temporary — is the latest move by centrist Democrats to back down in the face of pressure from their more liberal leaders and chairmen. Moderates relented earlier this year on a much stronger cap-and-trade energy bill, and the centrists in the House are looking more and more like they’ll have to deal with a public insurance option on health care.

[markomalley]

A blue dog Democrat is still a Democrat

[ntmxx]

First, all Democrat-Socialists are nothing more than useful idiots! Anyone who capitulates to Fwrank is nothing more than a punk needing to be bitched. When you think moderates, think cowardly girly men and little men squealing like little girls, who want their mommys to defend them as adults!

[lowbridge]

Rep. Melissa Bean (D-Ill.) agreed to pull her amendment with a promise that Frank would continue to work with her to change the bill, though when that change would be made remains uncertain.

Good going Melissa. What Frank does to his boyfriends, he has just done to you.