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Chuck Schumer (D-NY), The Undertaker

Posted by Larry Doyle on April 23, 2010 11:22 AM |

Chuck Schumer (D-NY)

No single member of Congress has received more financial support from the financial services industry than Chuck Schumer (D-NY). As such, Schumer is catching a lot of heat from the industry these days for not properly defending its interest against pending financial reform legislation.

The simple fact is, though, both the industry and Schumer do not appreciate that America has already graded them as huge failures. Hell, if we listen to Schumer himself, we can not come up with any other determination than that he has failed his constituents in New York and the country as a whole. How so?

Let’s quickly review Schumer’s take of the situation. As The Wall Street Journal writes, A Wall Street Ally Balances Loyalties:

“He’s the strongest voice the industry has in Washington, and the industry depends on him to be their primary defender, which has not been an easy job the last two years,” she said.

Not an easy job? Who cares? Is Schumer looking for symapthy? Take a number!! While Schumer has lined his pockets with the Wall Street dough, he has been the doorman while Wall Street crippled America.

The senator insists he is defending the long-term health of the industry.

Is that right? With three patients dead (Lehman, Bear, Merrill) and numerous others on the government dole, how is Schumer doing? I’d call him an undertaker.

“My job is not to preserve any one company as it is. My job is to see we have a strong financial services industry that maximizes employment and income in New York,” Mr. Schumer said.

Really? Three strikes you’re out. If, in fact, you believe your job is (or was) to “see we have a strong financial services industry that maximizes employment in New York,” then you, sir, are an abysmal failure. Could you see beyond the next shakedown, er, I mean campaign contribution?

For your own political services, would you like the pine box or will you be choosing some other means of disposal?

LD






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