Roll Call reports this morning that the possibility of Sen. Jim DeMint (R-S.C.) being named to the Senate Finance Committee has gone up considerably now that Sen. Johnny Isakson (R-Ga.) backed out of consideration.
It’s a move that would definitely please Wall Street, as Sen. DeMint is the lead sponsor of the “Financial Takeover Repeal Act of 2011,” legislation that would repeal the Dodd-Frank financial reform legislation passed by the last Congress.
During his time in Congress, Sen. DeMint has received $2.7 million in campaign contributions from the finance, insurance, and real estate sector, according to data from the Center for Responsive Politics.
As our own David Donnelly said on the introduction of the legislation:
“After witnessing the near collapse of our economy, and seeing millions put out of work thanks to greed on Wall Street and millions more living with underwater mortgages, you would think that these Senators would side with the ordinary Americans who were hurt the most. But this group of Senators continues to side with the Wall Street interests who pour millions into their campaign coffers.”
We’ll just have to wait and see what Sen. Mitch McConnell (R-Ky.) decides to do.