Skip to main content

Oh, good fuckin' Lord.

Uhm. Yeah. So look whose name is now in the running to head Consumer Financial Protection Agency (CFPA)? Like, I mean, aside from Elizabeth Warren?

Melissa Stupidhead Bean.

MELISSA BEAN FLOATED AS CFPB HEAD – Buzz on Friday had Rep. Melissa Bean (D-Ill.) possibly getting tapped as the first Consumer Financial Protection Bureau head depending on the outcome of her too-close-to-call reelection race, in which Republican Joe Walsh maintained a slight lead as of Sunday afternoon. But a possible Bean nomination is not sitting well with reformers on the left who say the moderate Illinois congresswoman is far too close to the banking industry. Said one administration official: "It’s not clear she would be acceptable to the reformers."

OH, YA THINK?! Jesus Horatio Christ wearing a sweater in the middle of June, what. the. fuck. is with the Barack Obama and his singing pitch?

Because Melissa Bean is not some awesome Democrat, a la Raul Grijalva. Oh no, of course not. Because that would be too easy, see, to pick someone to head the newly-formed agency that Democrats actually respected.

(I realize this comes as a complete shock to many of you. I'm sorry about that.)

As it turns out, Ms. Bean is about to lose her US House Rep seat in Illinois because, ya know, she's not a very well-liked Blue Dog/New Democrat/whatever the fuck.

Says dday:

Melissa Bean and the New Dems: The New Democrats were able to shoot the House derivatives plan full of holes, and now they’re taking aim at the Senate’s. They want to kill the Section 716 plan and add multiple carve-outs for "end users" in the derivatives title. 43 members of the 69-member coalition signed the letter on this. Bean and the New Dems claim that the Volcker rule, which they support, makes Section 716 unnecessary, a fact contradicted by the authors of the strongest Volcker rule, Jeff Merkley and Carl Levin.

Bean has been accused, of course, of being too cozy with the banks, not to mention the Chamber of Commerce. The always awesome Sunlight Foundation did a little number on her over a year ago:

John Michael Gonzalez is one of the nineteen former government officials hired to lobby with the Chamber of Commerce. Up until this year, Gonzalez was the chief of staff to Financial Services Committee member Melissa Bean. Bean is currently pushing to remove a provision from the Consumer Financial Protection Act that would allow states to craft stronger consumer protections. The move is backed by national banks and trade groups like the Chamber of Commerce. Bean has received over 40% of her 2009 campaign contributions from the finance, insurance and real estate sector.

Gonzalez works for the lobbying firm Peck, Madigan, Jone, & Stewart Inc. His company bio specifically hightlights his relationship with the Chamber when working for Bean, "Mr. Gonzalez successfully planned and executed a winning re-election strategy, raising $4.3 million and earning the most support of any incumbent from the US Chamber of Commerce."

Ethics law preclude Gonzalez from lobbying Bean’s office, but do not keep him from lobbying the Financial Services Committee. This could include key committee members who may support Bean’s preemption policy.


There is little doubt that lobbyist pressure is being put on members to support Bean’s preemption policy given the preponderance of lobbyists in attendance at the committee mark-up. Gonzalez’ long-time Hill connections, especially through Bean’s office to the Financial Services Committee, will give the Chamber a boost in its lobbying effort.

The real kicker here, though is not that Melissa Bean is a DINO, or that Melissa Bean is a Chamber crony, or that Melissa Bean wanted to get fin reg. It's that Melissa Bean herself was against the very goals of the Consumer Financial Protection Agency (!):

Illinois Attorney General Lisa Madigan pushed back against her fellow Democrat, Rep. Melissa Bean (D-Ill.), on Wednesday, sending a letter (PDF) opposing her effort to block states from having the ability to write bank regulations that are tougher than those imposed by a federal Consumer Financial Protection Agency.


On Wednesday, the committee took up a proposal to create a Consumer Financial Protection Agency. As currently structured, it would set baseline requirements, but states would be able to toughen their own regulations. An amendment by Bean would prevent states from doing so and a vote could come as early as Thursday.

Please contact the extremely tonedeaf White House and tell them not to appoint Melissa Bean as CFPA head. And, while you're at it, please tell them to remove their heads from their asses, because they clearly do not know which end is up.

Link to contact White House directly.

Link to contact the White House via OFA.

Grr. Argh.

Does anybody have any ibuprofen? I have a headache.

Originally posted to I don't think you're ready for this jelly. on Mon Nov 08, 2010 at 12:02 PM PST.

Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags


More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site