Print This Post   |  Email This Post

Answer: Mosh pits.

The latest Capitol Hill kerfuffle on the financial overhaul legislation saga revolves around comments made by House Minority Leader John Boehner (R-OH) to the American Bankers Association 2010 DC Summit (previously flagged on The Weekly Crib Sheet).  According to MarketWatch Rep. Boehner said:

“Don’t let those little punk staffers take advantage of you and stand up for yourselves…  All of us are hearing from our friends and constituents on lack of credit, you can’t get a loan, the more your government takes and taxes, the more regulations you have to comply with the more cost you have there and less amount you are going to have available to loan to customers.” (Click here for the rest).

Such a salvo goes rarely unreturned in Capitol corridors, thus House Financial Services Cmte. Chmn. Barney Frank (D-MA) quickly blasted out a press release response:  “I am appalled that a Leader of the House, who must know what good work is done by our staffs, would take such an inaccurate cheap-shot at these people, for the purpose of ingratiating himself with bankers or any other group.” (Click here for the rest).

WHY YOU CARE:  We studiously don’t take sides (but we will note Dem & GOP staff have always been top drawer in our experience) and like to stick to our media analysis of important business stories and our futures calendar, but this actually falls into the former category.  No, really.  The problem is that banking rarely gets a sexy press angle, and frankly this is catnip for Capitol Hill press.  Thus, we think you’ll see this on the news tonight, the web today, and papers tomorrow.  The bummer?  We were really digging and appreciating the pieces breaking down Chmn. Dodd’s proposed legislation and analyzing what might or might not get done in the Senate Banking Cmte.  There are only so many reporters to go around given the skeleton crews that make up news bureaus these days.  Thus, if someone is writing on this, they’re not writing on…