Wall Street-Backed Dem Hoping to Sabotage Maxine Waters

GROUP: There Will Be Hell to Pay for Dems Helping Wall Street “Reclaim Its Time”


WASHINGTON, D.C. – Since Democrats won control of the U.S. House of Representatives in the midterm elections earlier this month, Wall Street-backed Democrat Rep. Josh Gottheimer (D-NJ) has been actively working to undermine Rep. Maxine Waters’ plans to hold the financial sector accountable and protect consumers as the new chair of the House Committee on Financial Services. She will be the first African American to hold the powerful post.

According to a new report, Rep. Gottheimer blocked a progressive member of Congress from New Jersey from joining the Financial Services Committee because “they weren’t wanted on the committee.” At the same time, Gottheimer has been recruiting fellow Wall Street-friendly moderates to join him on the committee, even touting the “fundraising potential” that comes with membership.

According to an Allied Progress review of campaign finance data, Gottheimer has taken at least $1,502,123 from the securities and investment industries during his short congressional career. [“Rep, Josh Gottheimer – New Jersey District 05,” OpenSecrets.org, accessed 11/19/18.]

There is not a single voter who elected the new Democratic majority in the hope that Congress would do more to help banks and less to protect consumers. They want relentless advocates, not industry stooges to address their concerns in Washington,” said Karl Frisch, executive director of the consumer advocacy organization Allied Progress.

He continued, “Rather than helping Wall Street ‘reclaim its time,’ Gottheimer should get out of the way and let Rep. Waters do her job. There will be hell to pay if any Democrats that stand in the way of efforts to hold the financial industry and its allies in the Trump administration accountable for wrong-doing and undermining the interests of consumers.”

BACKGROUND:

Since The 2018 Midterm Elections, Rep. Josh Gottheimer (D-NJ) Has Been Trying To Fill The House Financial Services Committee With Pro-Wall Street Democrats, While Blocking At Least One Progressive From Obtaining A Seat.

Rep. Josh Gottheimer (D-NJ) Has Purportedly Touted The “Fundraising Potential” Of The House Financial Services Committee To Incoming House Members.

  • Huffington Post reported that Rep. Josh Gottheimer (D-NJ) “Has Been Encouraging Freshman Lawmakers” To Pursue Seats On The House Financial Services Committee, “Emphasizing The Fundraising Potential The Slots Offer His New Colleagues.” “Centrist Rep. Josh Gottheimer (D-N.J.) has been encouraging freshman lawmakers who have pledged their allegiance to the New Democrats’ cause to pursue seats on the Financial Services Committee, emphasizing the fundraising potential the slots offer his new colleagues, according to multiple sources familiar with his remarks. Gottheimer spokesman Matt Fried denied that the congressman brought up fundraising with other members, calling it ‘a lie.’ ‘He’d never say that,’ Fried said.” [Zach Carter, “These House Committees Could Make Or Break A Progressive Agenda,” Huffington Post, 11/15/18]

However, Rep. Gottheimer Allegedly Blocked A Progressive Member Of Congress From His Own State From A Seat On This Powerful Committee, Saying The Other Member Wasn’t “Wanted…”

  • Rep. Josh Gottheimer (D-NJ) Reportedly Blocked A Progressive Member of Congress From New Jersey From Joining The House Financial Services Committee Because “They Weren’t Wanted On The Committee” “A source with knowledge of the situation told The Intercept that Gottheimer was approached by a member of the New Jersey delegation with a more progressive profile, asking if Gottheimer would sponsor the lawmaker for the [House Financial Services Committee]. Gottheimer, according to the source, told the lawmaker that they weren’t wanted on the committee. Gottheimer’s office did not respond to a request for comment.” [David Dayen, “HOUSE PROGRESSIVES ARE FACING AN UNEXPECTED PROBLEM IN THE QUEST FOR COMMITTEE POWER,” The Intercept, 11/21/18]

…While At The Same Time Recruiting Fellow Moderates To Join Him On The Financial Services Committee Dais.

  • Rep. Josh Gottheimer (D-NJ) Has Been Recruiting Fellow Moderate Democrats To Join Him On The House Financial Services Committee. “Josh Gottheimer, a New Democrat from New Jersey, has been recruiting several ideological allies to join the panel, according to numerous sources who preferred to remain anonymous, as they are not authorized to speak publicly about committee politics. Gottheimer won a congressional seat in 2016 and immediately got on the Financial Services Committee. He received nearly $1 million in donations from the securities and investment banking industries during the 2018 cycle, according to data from the Center for Responsive Politics.” [David Dayen, “HOUSE PROGRESSIVES ARE FACING AN UNEXPECTED PROBLEM IN THE QUEST FOR COMMITTEE POWER,” The Intercept, 11/21/18]

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