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Friday, January 22, 2010
Boomer with Attitude / News Obama’s big bank fight & Mayor Foxx
Posted By John Grooms on Fri, Jan 22, 2010 at 1:07 PM
When the dust settles a bit from this week’s epic events – the Democrats’ Massachusetts ass-kicking, the Supreme Court’s toppling of a century-old, commonsense restriction on corporate political spending, and President Obama’s push for stricter regulation of the banking industry – guess which one will seem the most important in Charlotte? Hint: the city is sometimes called Bank Town. And guess who could wind up on a political hot seat? It’d be nice if the answer to that question was “the Bank of America CEO,” but you and I know that’s not how this town works. That’s right, it’s gonna be Mayor Anthony Foxx who is already being asked, in the conservative Meck Deck website, whether he will follow the lead of New York City Mayor Bloomberg, who has condemned Obama’s move.
Foxx isn’t as beholden to bankers as say, oh, the city’s past few exciting mayors, Republicans all, but he did run on a platform of job creation; if Obama’s mean old regulations are as potentially ruinous to banks as they claim (and we all believe what banks tell us these days, right?), Foxx could be forced to show some nimble political dance moves in the near future.
As for your humble blogger, my only question for Obama is, “What took you so damned long?” One of my current heroes is Harvard law professor Elizabeth Warren, who is Chair of the TARP Congressional Oversight Panel. She was MSNBC’s Rachel Maddow Show last night and gave a clear, pretty eloquent explanation and defense of Obama’s moves to rein in the excessive powers of the banking industry. Watch Warren’s interview here.
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