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Sen. Jeff Merkley will become chairman of the the Senate Banking Committee’s subcommittee on economic policy. The subcommittee oversees issues related to economic growth, employment and price stability. It also examines monetary policy and small business lending.
In his role, Merkley, a Democrat who defeated then-U.S. Sen. Gordon Smith in 2008, will also run the new Financial Stability Oversight Council. The Council was formed by the Dodd-Frank Wall Street Reform and Consumer Protection Act to study financial sector issues. - Portland Business Journal, 2/7/13
Merkley has been a very vocal supporter of Wall Street reform and accountability and his new chairmanship in the Senate is great news for financial reform advocates:
“We need an economy that creates opportunities and good jobs for everyone who’s willing to work hard,” Merkley said. “Too many Oregonians are still out of work, and too many who work are scrimping and scraping just to tread water. I look forward to using my new role as subcommittee chairman to push for pro-growth policies that give working families and small businesses across Oregon the chance to get ahead.”
Other issues the subcommittee has jurisdiction over are money and credit, including currency, coinage and notes; prices of commodities, rents and services; economic stabilization; financial aid to commerce and industry; loan guarantees; flood insurance; and disaster assistance. - Albany Tribune, 2/7/13
For your enjoyment, here's Senator Merkley grilling JP Morgan CEO, Jamie Dimon:
No doubt Karl Rove and Wall Street will be gunning for Merkley in 2014, even if Oregon is a blue state. Merkley is a true fighter for the middle-class and consumers and is one of Wall Street's worst enemies. Lets assure his re-election victory in 2014: