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January 29, 2015

Himes looks for middle ground in Dodd-Frank fight

“WASHINGTON — As a 12-year veteran of Goldman Sachs, U.S. Rep. Jim Himes, D-4, is one of the very few lawmakers on Capitol Hill who understands the intricacies of Wall Street — a fact he’s not shy in pointing out.

“But that expertise has made for a lonely uphill slog to the no-man’s land of Wall Street reform.

“Lately Himes, who lives in Greenwich, has found himself caught in the fire between warring Republicans and Democrats over changes to the 2010 Dodd-Frank legislation that brought an unprecedented measure of regulation to the financial world.

“I feel a certain pride in authorship over this piece of legislation,” said Himes, who helped write the law.

“Nonetheless, he said, “every regulatory regime we have is legitimately subject to thoughtful reconsideration.”

“Authorship is not insulating Himes, 48, from criticism that by casting two votes with Republicans to roll back elements of Dodd-Frank, he’s aligned himself with Wall Street banks in a way that puts the still-recovering U.S. economy at risk all over again.

“It doesn’t mean he’s a bad guy,” said Dennis Kelleher, president of Washington-based Better Markets Inc., an advocacy group that supports financial system reform. “But his votes reflect someone who agrees with Goldman Sachs and the biggest banks on Wall Street.”

Supporters’ disappointment

“Even some of Himes’ Democratic supporters are expressing frustration.”

***

Read the full Connecticut Post article by Dan Freedman here

 
 
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