Key lieutenants behind scenes ensured passage of financial regulation overhaul
Author: Renae Merle, Washington Post
Jul 23, 2010
"When Neal Wolin walked into the House speaker's office in December, landmark legislation to reshape the nation's financial regulations had been working its way through the House for more than six months. Top Obama administration officials had been confident the bill would ultimately pass the chamber, but a late challenge had emerged from centrist Democrats concerned about a provision that would give individual states more power to enforce consumer protection laws..
Behind President Obama'a victory, crowned with his signing of the bill Wednesday, were a few key but little-known lieutenants who helped develop the strategy, waged a public relations campaign to fight off critics and negotiated last-minute deals to secure the bill's passage.
Key players include such people as Wolin and a team led by Michael Barr, the assistant Treasury secretary for financial institutions, along with Diana Farrell, the deputy director of the National Economic Council, who often weighed in with the White House perspective."
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Did You Know?
In March, 2010, 44 percent of the unemployed had been without a job for six months or more.
Source: Ben Bernanke, Chair, Board of Governors of the Federal Reserve System