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Oh... THAT'S What They Mean By "Bipartisan"... Who Knew ???
Stephanie Cutter, Former Obama Adviser, To Help Bank Of America Elude RegulationJason Linkins - HuffPo
Posted: 05/10/2013 5:53 pm EDT | Updated: 05/10/2013 6:11 pm EDT
From The Wall Street Journal: http://online.wsj.com/article/SB10001424127887324244304578471312603346762.html
Regulators and lawmakers increasingly are signaling that more work is needed to lessen the risk posed by large, complex banks, including bigger capital cushions and minimum amounts of expensive long-term debt.
The moves by banks include pushing back against bipartisan legislation sponsored by Sens. David Vitter, a Louisiana Republican, and Sherrod Brown, an Ohio Democrat, that would sharply increase capital cushions at large banks to the point where most analysts expect firms would be forced to shrink.
Stephanie Cutter, a former adviser to President Barack Obama, and Ed Gillespie, a former Bush administration official, are providing strategic advice to Bank of America on several issues, including efforts to break up the banks. Morgan Stanley recently hired Michele Davis, a top aide to former Bush administration Treasury Secretary Henry Paulson, to help bolster the firm's credibility in Washington.
The moves by banks include pushing back against bipartisan legislation sponsored by Sens. David Vitter, a Louisiana Republican, and Sherrod Brown, an Ohio Democrat, that would sharply increase capital cushions at large banks to the point where most analysts expect firms would be forced to shrink.
Stephanie Cutter, a former adviser to President Barack Obama, and Ed Gillespie, a former Bush administration official, are providing strategic advice to Bank of America on several issues, including efforts to break up the banks. Morgan Stanley recently hired Michele Davis, a top aide to former Bush administration Treasury Secretary Henry Paulson, to help bolster the firm's credibility in Washington.
From Linkins: http://www.huffingtonpost.com/2013/05/10/stephanie-cutter-bank-of-america_n_3255326.html?utm_hp_ref=politics
So, Stephanie Cutter (who I guess may also soon be repping Bank Of America's point of view on a rebooted "Crossfire" for CNN?) is working to undermine "tight rules" on banks? That seems like an odd thing for someone who supported Obama's reelection to do. Or does it? Is the implication here that Obama would not sign Brown-Vitter? Or that he contends that "bigger capital cushions" are not required?
It could mean that the White House isn't all that sincere about reining in the banks, maybe. It could also mean that the Obama White House will be battling its own adviser in the parking lot with tridents. I've not heard back from Cutter since I emailed her to ask, "HUH WHAT NOW?" But the day is young.
It could mean that the White House isn't all that sincere about reining in the banks, maybe. It could also mean that the Obama White House will be battling its own adviser in the parking lot with tridents. I've not heard back from Cutter since I emailed her to ask, "HUH WHAT NOW?" But the day is young.
21 replies
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This administration has made it perfectly clear since even before taking office in 2008 that the financial industry can and will do any damned thing they want and our only role is to pick up and pay their debts when they lose their bet.
I have decided I'd rather worry about stray kittens, metal music and beer. 
Leave the puppet dance to those in the slumber.
Life is too short.
if anything is ever to be done about it.
And Cutter knows some seriously important people.
THAT is why she started a "consulting firm"...
She can introduce people who want something, to people who can give it to them.
It's WHAT those "people" want (BofA) that's the problem.
She is now cashing in.
