Katie Porter is off the House Financial Services Committee. We're all worse off for it.

[scarletwoman]

https://www.washingtonpost.com/opinions/2021/01/16/katie-porter-is-off-house-financial-services-committee-were-all-worse-off-it/

Opinion by Helaine Olen, Columnist
Jan. 16, 2021

When Democrats took back the House of Representatives in 2018, a number of the freshman representatives quickly emerged as media stars. One was Katie Porter, who used her platform on the Financial Services Committee to highlight the ways in which the banking and finance industries could take advantage of Americans.

Over the past two years, Porter (D-Calif.) schooled JPMorgan Chase CEO Jamie Dimon — who earns tens of millions of dollars annually — on the realities of how a teller at one of his banks could not get by earning $16.50 an hour. She also revealed that Kathy Kraninger, the thoroughly unqualified Trump appointee charged with protecting Americans’ personal finances as the head of the Consumer Financial Protection Bureau, couldn’t define an annual interest rate or explain how it works.

But no more will be forthcoming. According to the Hill, Porter is off the House Financial Services Committee. And this is a loss for all of us.

The stated reason for her ouster is an arcane set of House Democratic caucus rules. The Financial Services Committee is an “exclusive” committee, which means that members who take a seat on it can serve solely on that committee, unless they ask for and receive a waiver to take on more than one such assignment.

In the last term, Porter did just that, and received a waiver from the House Steering Committee, — which is in charge of such things — so that she could also serve on the nonexclusive Oversight and Reform Committee. For the new congressional session, Porter attempted to get a second waiver so she could also serve on the nonexclusive Natural Resources Committee. It’s uncommon, but it is sometimes granted. Not this time. Instead, Porter received assignments to the Oversight and Natural Resources committees — and not Financial Services.

Read the rest of this sad story at the link.

[SunSeeker]

1. Bummer. But she'll kick ass on the Oversight committee.

And the Natural Resources Committee will give her an opportunity to grill Big Oil. Can't wait.

[GrassClippings]

2. Big Oil...

Doesn’t exist anymore. I’m sorry but it doesn’t. Look at how many people drive Teslas. All they need to produce is enough to make batteries, fuel the power plants and make jet fuel.

[left-of-center2012]

3. What is the price of an average Tesla?

And I will ask the question you ask.
How many people drive them?

[Dark n Stormy Knight]

4. I don't know anyone who knows anyone who drives a Tesla.

I might know a couple of people who know a couple of people who drive any electric car.

And to think, I've been called an elite

[SunSeeker]

7. I live in Southern CA and I know 2 people who drive Teslas. They're both lawyers.

CA has the most electric cars of any state, but they are still a tiny minority of cars on California’s highways. Middle income people simply cannot afford electric cars. And due to the inadequate charging infrastructure, most people have at least one gasoline car in the household as a backup to their electric car. The average American can't afford that.

I hope Katie Porter addresses that.

[Dark n Stormy Knight]

9. Exactly. We'd love to have an electric car, but we've never been

financially secure enough for that.

Here in SE PA, we live near a large, popular botanical garden which offers two free auto charging stations, and often only one is being used. And there's no charge to park in thier lot where these are available. I always figured that's a sign there can't be many electric cars around here.

It's also, another reason wish I could afford an electric car--free charging nearby!

[Withywindle]

11. I live in Chicago

and I've never met anyone who's ever even seen a Tesla, much less owned one. I've never seen one in the wild, only pictures online.

I guess maybe in the rich neighborhoods there might be some, but those aren't the people I know.

[Dark n Stormy Knight]

12. I know a few rich Dems here in SE PA, but none who own a Tesla.

I'm pretty sure that, like you, I've never even seen one except in pix. I don't spend much time on the road, though.

[SunSeeker]

5. Big oil most certainly does exist--US oil production went up 134% in the last 11 years.

Oil production in the US, which includes crude oil, shale oil, oil sands, condensates, and natural gas liquids, rose to an annual average of 17.04 million barrels per day (bpd) in 2019, from approximately 7.27 million bpd in 2009.
https://www.aa.com.tr/en/economy/us-oil-production-up-134-in-last-11-years/1896901#:~:text=Oil%20production%20in%20the%20US,World%20Energy%202020%20report%20showed.

Sales of plug-in passenger cars achieved a 2.5% market share of new car sales in 2019, up from 2.1% in 2018, and 1.3% in 2017, but still almost negligible.

Electric cars cost $40k or more out the door. Even a cheap Chevy Bolt like the one I bought last year has a $41k window sticker.

Until Americans can afford electric cars, and we dramatically expand our charge station infrastructure, electric car sales will continue to be a tiny minority of overall cars sold.

[tavernier]

13. I've never seen a Tesla,

but I sure have seen thousands of super mega gas guzzler trucks, SUVs, and motor homes. Daily. I do have a friend who owned a Prius but sold it a year later and bought a Suburu SUV because she felt safer in a bigger car.

[gulliver]

6. I like Porter, but rules are rules and Dems need focus and many leaders.

[Hortensis]

8. Well, Katie has a long and valuable career ahead. Note that she asked

Note that she asked that her position on Oversight be prioritized over Financial, with a waiver to allow her to stay on Financial.

Insiders say that’s the breaks. “It’s a gamble,” as a senior Democratic aide told me. “If you have primary committee like that and you are a permanent member and that is your top priority, you should never give that up.”

Likely in future she'll balance playing to the public with a little more tending to being equally appreciated by others. Most of their work by far is done in offices and committee and meeting rooms. A cost of embarrassing people in rare public hearings is that they may not care to discuss issues and answer questions with that person in regular meetings, much less negotiate solutions, and make it harder for others to.

She's very popular here, and rightly so, but fact is almost no one pays attention to what congress does and most of those who do read about what these committees are doing. What works better for her will work better for us too. Her shows helped raise a great deal of money and get her reelected, a really big thing, so that part worked very well.

Chair's still Maxine Waters, and Banking's new Democratic member is Ritchie Torres, an up-from-the-projects Latino-Black gay NYC progressive liberal.

[scarletwoman]

14. Thank you! I appreciate your detailed post!

[Hortensis]

20. :) For all we know, Scarlet, they would have granted another waiver

if we hadn't lost all those seats because of backlash in some districts against all the "defunding" and "socialism" noise. That resulted in fewer committee positions available. I looked to see how many members Dems have on Financial Services now, most sites haven't updated, but in the 116th we had 22.

[scarletwoman]

22. Good point. I hadn't thought of that - it's a bummer that we lost seats.

[Turin_C3PO]

10. Mixed feeling about this.

I love Katie Porter and how she’s able to get these financial assholes to squirm but on the other hand these are the rules and who am I to say they’re wrong?

[MerryBlooms]

15. Porter on Oversite, wow! I suspect there are some republicans shaking in their boots

right about now. Go get 'em Katie!

[Autumn]

16. Who made the decision to assign her to the Oversight and Natural Resources committee?

[scarletwoman]

17. She requested those committees herself.

See the last 2 paragraphs in the excerpt I posted.

[Autumn]

18. I saw that. Did she assign herself?

[scarletwoman]

19. I don't have knowledge of how that stuff works, sorry.

[Hortensis]

23. The steering committee, chaired by the speaker, makes

committee assignments. Of course the wishes of the committee chairs and subchairs play big roles.

This is a hugely involved process, trying to maximize use of the talents of the over 200 representatives the electorate sends them. From the beginning they identify and evaluate especially promising new people they should bring along, like Katie Porter.

"Firebrand" Maxine Waters chairs Financial Services, btw.

[Autumn]

24. Thanks.

[LessAspin]

21. Senate Seat

Was hoping this thread was going to tie into the open Senate seat.

Link to tweet

[scarletwoman]

29. Alex Padilla has been appointed by Gov. Newsome to fill Kamala Harris' Senate seat.

https://www.nytimes.com/2020/12/22/us/politics/alex-padilla-kamala-california-senate.html

Alex Padilla Will Replace Kamala Harris in the Senate
Gov. Gavin Newsom of California selected Mr. Padilla to serve the final two years of Ms. Harris’s term. Mr. Padilla will be the first Latino senator to represent the state.

Published Dec. 22, 2020 - Updated Jan. 11, 2021

SACRAMENTO — Alex Padilla, California’s secretary of state, has been appointed to fill the Senate seat held by Vice President-elect Kamala Harris, Gov. Gavin Newsom announced on Tuesday, capping months of intense political jockeying among Democratic factions in the state.

The son of Mexican-born immigrants who settled in Los Angeles’s San Fernando Valley, Mr. Padilla, 47, will be the first Latino senator from California, where Latinos are about 40 percent of the population.

[Hortensis]

25. Btw, Porter requested placement on the new Select Committee on Economic Disparity

& Fairness in Growth if she couldn't have her first choices. Pelosi announced the formation of the new select committee, which would study these issues and make recommendations to the standing legislative committees.

I still don't see any announcement of who'll be on the committee, but easy to see why she'd be interested.

Pelosi Announces Creation of Select Committee on Economic Disparity & Fairness in Growth

“As House Speaker, I am proud to announce the creation of the new, bipartisan Select Committee on Economic Disparity and Fairness in Growth, which will be an essential force in Congressional Democrats’ action to combat the crisis of income and wealth disparity in America. It is molded after the mission of the Temporary National Economic Committee, founded by President Roosevelt and the Congress after the Great Depression to study and combat the concentration of wealth in America and its role in triggering economic collapse.

“As President Roosevelt said before founding this Committee, ‘The liberty of a democracy is not safe if the people tolerate the growth of private power to a point where it becomes stronger than their democratic state itself… the liberty of a democracy is not safe if its business system does not provide employment and produce and distribute goods in such a way as to sustain an acceptable standard of living.’

“The past several decades have shown with devastating clarity the marked imbalance between the financial fortunes of CEOs and workers. The reverence of those who amass profits by stagnating wages has seriously undermined the lives and livelihoods of many Americans, while slowing economic growth in our country. This year, the disturbing, dangerous trend of economic disparity has also been accelerated by the coronavirus economic crisis.

“The devaluing of work has had a negative impact on consumer confidence, job creation and economic growth. And the situation of families no longer believing that their children will have a brighter future than they is seriously damaging and demoralizing to our society.

“That is why we are creating this Select Committee, which will be a resource to the Congress to make policy related to economic fairness, access to education and workforce development. Working with the Committees of Jurisdiction, the Select Committee will study and recommend proposals to make our economy work for everyone, powering American economic growth while ensuring that no one is left out or left behind in the 21st Century Economy.”

[scarletwoman]

26. Thank you so much again! I haven't paid as close attention as you obviously have, so I very much

appreciate the information you're posting.

I can certainly see why Porter might want on that committee - it will be interesting to see who ends up seated on it.

[Hortensis]

27. I only knew because I read about it when it first came up.

Last edited Sun Jan 17, 2021, 03:03 PM - Edit history (1)

I forgot all about it, but your post reminded me. There is SO much going on, with so many committees and subcommittees with their own very complex work. I like knowing this one is being created, though.

[scarletwoman]

28. Well, it's a very cool thing to know about. I'm certainly glad to know that such a committee is

being formed, it sounds like an excellent idea.

[jcgoldie]

30. Does the Natural Resources Committee address climate?

If so then thats where she needs to be.