John Ransom

 

Barack Obama has promised to take back the United States House of Representatives in 2014 by using his Organizing for Action superhero/super PAC as his weapon.

And if that happens the country faces the prospect of this old socialist, Rep. Maxine Waters (D-Graft, Theft, Shakedown), becoming the chair of the House Financial Services committee.  Just imagine super-liberals Sens. Ron Wyden (D-DeathState), or Chuck Shumer (D-EastCoast) teaming up with Waters to re-write Dodd-Frank banking law to make it more liberal.

But so far B.O.’s money superstorm disguised as a PAC has made a lot of noise but hasn’t even ruffled feathers on the left side of the aisle, let alone amongst Republicans.

“OFA’s pledge to punish senators who voted against gun control was the first big test of the group’s reach,” reports Politico, “and, undoubtedly, a difficult one, given that many of the senators voting no were in deep-red states where Obama lost badly. Even measured against those odds, there are almost no successes to point to: the group didn’t sway a single vote for the background check proposal, and so far, they haven’t been able to make any of those who voted against it feel any heat.”

But it would be unwise for America to get too comfortable. Again: Just imagine super-liberals Sens. Ron Wyden (D-DeathState), or Chuck Shumer (D-EastCoast) teaming up with Waters to re-write Dodd-Frank to make it more liberal.

While there has been some talk about scratching Maxine Waters as the replacement for Barney Frank on the House Financial Service Committee, by the look of the googly eyes Democrats are making at each other, don’t count on Dems to do the decent thing. The decent thing would be have Go-to-Hell Maxine step aside for a less ethically challenged liberal- you know, if there are any.

As Ezra Klein pointed out in his WonkBlog, however, the top contender to push Waters aside and replace Frank, Democrat Rep. Caroline Maloney, waged something of an equivocal insurgency that likely depended more upon the results of the ethics investigation into Waters’ banking relationships than any outward campaign that Maloney can mount.


John Ransom

John Ransom is the Finance Editor for Townhall Finance, host of Ransom Notes Radio and you can catch more of the best money advice and monetary commentary by him daily 10am PT, 1pm ET at WealthEd.com or on Comcast Cable