Banking Industry Worried an Ascendant Reed Would Be Tough on Wall Street

I'm supposed to be on vacation. But here's an interesting little nugget. 

Amid talk that the late Ted Kennedy's friend Chris Dodd will take over his chairmanship of the Senate health committee - and leave his perch atop the banking committee - there is plenty of speculation over who will land in the top banking committee job.

By seniority rules, the post would go to South Dakota Democrat Tim Johnson. But there is a backlash from liberal bloggers, who say he would be too soft on Wall Street. And financial industry types are among those who worry that Johnson may not be up to the job three years removed from a cerebral hemmorhage. But next in line would be the more liberal Jack Reed. And bankers have some concern about him, too, according to the Wall Street Journal:

In a twist, the same industry lobbyists who point out Johnson’s physical condition likewise worry that if Johnson doesn’t get the chairmanship, the next in line is Sen. Jack Reed, a Rhode Island Democrat who would likely be much tougher on Wall Street.

Here's hoping for a Chairman Reed.

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