Here’s something that will keep you up at night, if the Dems retake the House Maxine Waters will be the chairwoman.
(The Hill) — Wall Street executives are bracing for the possibility that Rep. Maxine Waters (D-Calif.) will take over as the senior Democrat on the House Financial Services Committee after Rep. Barney Frank (D-Mass.) retires.
Waters is in line for Frank’s spot and could become chairwoman of the panel if Democrats retake the House. Frank announced Monday that he will not seek another term in the House.
The California liberal is considered left of Frank, an architect of 2010’s Wall Street reform bill, on financial issues.
While banks and other financial institutions often battled Frank, he was seen as someone they could work with. Wall Street views Waters as more of an opponent.
“She’s not a good face of the issues,” one financial executive said. “She’s too much of a bomb thrower.”