Smack Down in the People's House!

[dgibby]

A bloc of African American House Democrats, angry and worried that not enough is being done about high unemployment by the administration, forced the postponement of a much-anticipated vote Thursday on comprehensive financial regulation reform.

The refusal to vote for the package, a key priority of the administration, and Treasury Secretary Timothy Geithner in particular, was portrayed as a direct rebuke of the White House's "lack of response to the economic situation."

We will not be proceeding to passage today," Frank began. "I have been meeting with members of the committee, particularly the members of the Congressional Black Caucus, who have informed me that they are troubled by what they believe is the lack of response to the economic situation that is confronting them on the part of the administration, and therefore do not feel that they could -- in deference to the various constituencies that they represent -- vote for passage."

Snip...

"The recession has created a unique systemic risk that threatens all parts of the African-American community, including the poor and the middle class," said Rep. Maxine Waters (D-Calif.), a subcommittee chair, in a statement after shutting down the vote. "I have always been committed to addressing that risk and will continue to do so. This is a critical issue for my constituents."

More at link:http://www.democraticunderground.com/discuss/duboard.php?az=post&forum=389&add_journal=1&trackback_journal=1

Looks like things are heating up for little Timmy!

[Cleita]

1. It's about time that congressional Democrats started realizing that they are

part of the checks and balances that could have prevented the excesses of the previous eight years.

[dgibby]

2. Leave it to Maxine!

I love that woman. She does NOT take prisoners!

[Romulox]

3. k/r. Finally, some things to cheer about! nt

[Jane Austin]

4. Wait -

We don't need financial regulation reform?

I thought we desperately needed that.

[dgibby]

5. Of course we do.

I don't know what's in the bill, but evidently Rep Waters and other members of the CBC aren't any too happy, and they want to postpone the vote until their concerns are addressed. They appear to be especially unhappy with Geithner, and according to the article, this seems to be a message to the WH.