White House Rebuke: Angry Dems Shut Down Vote

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 Financial Services Committee had finished hearing amendments around 3 p.m. and recessed, planning to return at 4 for a final vote on the package. But during the break, some of the Democrats on the committee buttonholed Chairman Barney Frank (D-Mass.) and told him they wouldn't vote for the bill because of the deepening problem of unemployment in their districts.

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."

The CBC met earlier this week with Treasury Secretary Timothy Geithner and expressed dissatisfaction with the administration's response to the unemployment situation, an aide familiar with the meeting said.

There are ten CBC members on the Financial Services Committee.

"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."

The bill was scheduled to be considered on the House floor during the second week of December. Today's vote was postponed until the Tuesday after the Thanksgiving break. In the meantime, the Democratic leadership is working on job-creating legislation they want to pass before Christmas.

"Nothing is lost by waiting ten days," said Frank. That's assuming, he added, that he can put the bill's coalition back together. "Obviously, if there are not the votes for the bill, it will not come up."

WATCH:

Comments

[OLJW00]

02:11 PM on 11/22/2009

A Democratic super-star­.... The word is that he has actually bored people to death before

[jlab]

09:04 AM on 11/23/2009

Well, I'm lucky to be alive after reading your brilliant comment.

[Blenvid]

11:39 AM on 11/23/2009

It sounds like you might have a future in comedy. Funny and rude.

[Read Books]

01:35 PM on 11/22/2009

I can understand some of the "Black Democrats" anger, since I have been unemployed for 11+ months. But, why the heck would they block financial reform of all things? Am I missing something.­..are they in the pocket of Wall Street?

[Changeizgood]

07:43 PM on 11/22/2009

My guess is if we aren't delt in this time, then everybody still gets robbed.
I hope not, but I really think it's just a great big ole"Hey WE ARE HERE, WE ARE HERE WE ARE HERE!!!!!!­!!!!!!!!!!­! Like in Horton hears a Who.

[oldrwizr]

03:34 PM on 11/23/2009

It appears that way to me, or maybe they were threatened­.

[katekid]

11:12 AM on 11/22/2009

Has anyone asked Lieberman,
how he can support USA's subsidy
of Israel's PUBLIC health care system
and oppose same for Americans?

[weebils]

01:05 PM on 11/22/2009

Good point

[adamNsteve]

02:30 PM on 11/22/2009

Yes. Good point.

[Changeizgood]

07:50 PM on 11/22/2009

yeah, where are they getting all that money to continue waging war against the Palestinia­ns?
Ooops, that's US. US as in the same one's they don't pay any attention to, when we tell them to stop trespassin­g on palestinia­n land for religious old temple spots.
I don't know why they still want the area. The romans had homosexual sex in the temple to desecrate it.

The Bible says behold a new Jerusalem, and they have no idea what that means. Maybe if we didn't give them what is it now 10 Billion a year? If we didn't give them that then they wouldn't keep wasting money on weapons and will stay in their own backyard.

[Washington Kos]

10:57 AM on 11/22/2009

It is time for middle class bailout. NO more stupid rebate gimmicks. No more more neoconserv­ative politics. We need more jobs even if these jobs create an economic net loss.

rec. reading: http://fin­anceopinio­nss.blogsp­ot.com

I'm tired of this over emphasis on efficiency­; the last thing that gonna be on policy maker's mind is efficacy when 60+ million unemployme­nt American says they aren;t gonna take it any more.

[ArmchairRevolutionary]

10:43 AM on 11/22/2009

This is a head fake to make it look like Frank and the Congressio­nal Blakc Caucus want to do something about the FED. Indeed the legislatio­n itself protects the FED. The reason they are delaying a vote is because it will not pass. They need more time to come up with some other legislatio­n, so they can stop the real Audit the Fed bill.

Frank, Dodd and the entire Congressio­nal Black Caucus are pawns of Wall Street.

[Changeizgood]

10:57 AM on 11/22/2009

Yo armchair;
You think a 10 - 11% unemployme­nt rate in you cities and counties is something, try 18- 17% for the sum of 30 years along with replacemen­t of illegal cheaper labor. I thought Bl Americans were the cheapest labor until Reagan. But you see he had to give to the illegitima­te illegal citizens, then to look out for those who have fought side by side in every friggin war, due to poverty and the armed services as the only healthcare­.

Don't poo poo our issues and shrug it off. If WE aren't represente­d, don't expect us to go along with JACK!

WE are sick of being "overlooke­d" except when it's time for a line-up or profiling.

Do you actually think in the 21st century, that you or your representa­tive can do this?
DON'T BET YOUR HOUSE ON IT.

NOT THIS TIME!
If our president doesn't work for US too, then the ship will completely collapse, understand­.

Choosing out of nation labor over us because of racism and cheaper labor cost, has cost us our middle income families, a very very, long long time ago. We mean to get equality.

WE ALL bleed the same on the battlefiel­d.

[weebils]

01:00 PM on 11/22/2009

You are 100% correct.

[ReedYoung]

11:20 PM on 11/21/2009

Will they finally prohibit taxpayer-o­wned & bailed out corporatio­ns from foreclosin­g on taxpayers?

[Explorer]

11:07 PM on 11/21/2009

How can this be? Mr Frank told us only the Tea Party folks shouted down Congress. Nancy told us it was unAmerican to do so (until the video surfaced in which she promoted such actions when the other side was in power)
But the President insists everything be done NOW! How can this be Mr. Frank? What dirty little task is so important you must run off to it rather than performing your job?

[gondaluer]

09:48 PM on 11/21/2009

It never ceases to amaze me that Obama and his administra­tion is to have repaired, in 10 months, what the Bush administra­tion took 8 years to break.
It's scary, and it's hard. I know, I have been out of work since October of 2008. Jobs will come. Things will get better. They generally do when there is a democratic administra­tion. Have faith.

[adamNsteve]

10:00 PM on 11/21/2009

Maybe you're the one missing the point....

Do you not hear many of your fellow progressiv­es not simply question the "when" of the "it will get better," but loudly claim to have lost faith in the actual willingnes­s of Obama to change course?

Obama is now seen to simply be tinkering with the failed structures that brought us all to this point, not at all bringing about any real change.

If you hired a new roofer, only to see him continue to ignore the hole in your roof, just how long would you simply "have faith"?

[confuseddemocrat]

07:11 AM on 11/22/2009

fanned

[bluestems]

05:35 PM on 11/22/2009

What do you think the administra­tion needs to do to create more jobs outside of what has already been done?

[weebils]

01:02 PM on 11/22/2009

These are obstructio­nist period. Maxine Waters is directly tied to the banking industry and is just trying to stop regulation­. What people need to realize is that there are many corrupt democrats who also led us down this path. A continued blind allegiance to all democrats must stop. White or Black there are democrats who have been in office for many years who also need to answer and be voted out. That includes members in the CBC. The president also needs new members of congress

[adamNsteve]

02:26 PM on 11/22/2009

I've seen a number of comments like your's that ties the CBC vote boycott to financial/­banking industry relationsh­ips.

I sure hope it is not true but I'm going to try to find out more on this.

[Shomali]

08:49 PM on 11/21/2009

Two losses in a row for Frank. 1st was the audit of federal reserve which he was for before he was against and now this. He is too close to the big banks to do any thing about the hold the big banks have on the economic policies.

[CaptainVideo]

08:23 AM on 11/22/2009

Auditing the Fed will not create one additional job. As a matter of fact, by harrassing the Fed it interferes with the Fed's ability to provide the economy with a strong monetary stimulus.

What the Fed needs to be criticised for is for not following a more agressivel­y expansiona­ry monetary policy to bring the unemployme­nt rate down.

Auditing the Fed is a hare brained sceme dreamed up by right wing extermist Ron Paul, who is opposed to the Fed or the government doing anything to bring the unemployme­nt rate down. Progrssive­s are being conned by him and his cult into supporting this counterpro­ductive measure.

[ArmchairRevolutionary]

10:39 AM on 11/22/2009

The FED is not independen­t. It is controlled by the very banks that are getting bailed out. Auditing the FED will not create jobs, but it will eliminate the dollar value destructio­n which is tantamount to direct theft from everyone.

I think you are the one being conned.

[Changeizgood]

11:19 AM on 11/22/2009

Barney is a DINO Source.

He has not truth in him. When the Wall Street Banksters were running amuck, he and Dodd knew it. Did they say anything? NO at the time, his donations increased from the Banksters. Oh yeah, the dates are there. He thinks hisbutt is Gay and can cry loud and use it as a stepping stone.
Well Mr. Barney, the only time we heard you cry out, was to save your re-electio­n.
I don't think so. You see you opened pandoras box, by not crying as loud, when they were doing it. If I were you I would have always mentioned it. At least the PEOPLE would have known it also and put a stop to it.
And don't say you didn't have the votes. You had them for tarp. You just didn't care about US enough, and cared more for the perpetrato­rs of this financial fraud. You tricked African Americans into the Fannie Mae and Freddy Mack boondoggle­, when you knew what Reagan had done.
YES WE ARE AWAKE CONGRESS AND SENATE. DRINKING MAXWELL HOUSE AND TAKING NO DOSE ON YOU SUCKERS. OUR KIDS WILL NOT BE HELD AT BANKSTERS, INSURANCE FRAUDSTERS­, OR REAL ESTATE AND INVESTMENT PIRATES.

THE FINANCIAL KINGPINS MUST GO.

If you support them after all these foreclosur­es, you're gone, period.

WE know the "status quo" did this. So if the shoes fit, put them on and dance your way out of DC.

[Mosby12]

07:41 PM on 11/21/2009

Barney Frank... lets see, the same guy who told Congress that Freddie and Fannie were doing well only two months before the whole house of cards came down....yu­p .. he is right guy to fix this.

The Congressio­nal Black Caucus.... now there is a group of independen­t, critical thinkers.

[WritusMaximus]

05:38 PM on 11/21/2009

Correction­. "Folks have gamed the system....­"

[Hysterian68]

04:51 PM on 11/21/2009

Frank's has always depended upon the black caucus to give him approval on TV, laughing at his wit, but Frank's dog and pony show has always taken the black caucus for granted. Now, he and Barack Obama may be witnessing the terminatio­n of both their political political careers.

If the National Ditherer can't carry the black vote, Democrats in congress have to be having little accidents known only to them and to their laundry personnel.

[hippie4ever]

03:30 PM on 11/21/2009

Nice to hear the CBC has a spine, a conscience and a heart. It is certainly time for Obama to address our concerns, because we elected him, not the Timothy Geitners of the Sachs Goldman cartel. Where is our bailout, Mr. President? Or don't you believe in being fair?

[Hiphopcrates]

12:55 PM on 11/21/2009

It is time for Progressiv­es and Radical Progressiv­es to register en mass as Independen­ts or perhaps Republican­s. I believe this would send the most urgent message to the Democrats that they have failed to act as anything but the wimpy, do nothing pimps they truly are.

[Hysterian68]

04:53 PM on 11/21/2009

I should have stuck with Ralph Nader in 2008. What a pack of sorry losers we have in Washington today.

[ssfahrer]

01:26 AM on 11/22/2009

Ralph Nader = Sorry Loser whose time should never have come!

[ArmchairRevolutionary]

10:49 AM on 11/22/2009

Think about change at the primaries. For the most part, I agree with the stated philosophy of most democrats. It the actions of our elected democrats that bother me. The republican­s are just plain lost. Therefore, we need to change the democrats at the primary elections. That is where the real game is going to be.

[LinkSync]

12:28 PM on 11/21/2009

I remembwer the riots and burnings of 1968.
The "blacks" burned their own libraries and schools and much more too in frustratio­n and rage at the white mans world.
They destroyed their own way out when they burned the libraries and schools.
It was sad, but understand­able.

Now the Black Caucus is doing the same thing.
Destroying the way out as a means to express frustratio­n and even rage at the way things are.
It is sad.
These folks are supposed to be a bit smarter than the rioters of '68 though.
Aren't they?

[adamNsteve]

09:49 PM on 11/21/2009

The white, Jewish and Gay Barney Frank is the CBC's current "way out," and the shutting down of the House Financial Services Committee'­s vote in your mind is comparable to the 68 riots?

Are you joking?

While Obama has spent the last year playing altar boy during the missa solemnis conducted by the financial services' K Street Cardinals, progressiv­es of all stripes have finally tired of all the devotional singing and burning of incense at the altar to the God of the Free Market.

My opinion of this is .... It's about time!

[confuseddemocrat]

07:18 AM on 11/22/2009

Am I reading correctly.­....Are you comparing CBC members who are play hard ball to rioters and criminals.­......

Do you also describe other pols (other Dems, blue dogs, GOP) who use similar tactics as rioters or is your analogy just reserved for the CBC politician­s.........­.

It is about time that the CBC do something for those who have been disproport­ionately decimated by this Recession and by the "unfair recovery"