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Johnson Expected to Lead Senate Banking Committee
American Banker ^ | January 7, 2010 | Alison Vekshin and James Rowley

Posted on 01/07/2010 4:47:35 AM PST by La Lydia

Sen. Tim Johnson is expected to take the reins of the Senate Banking Committee next year following Chairman Chris Dodd’s decision not to run for re-election, according to sources. A spokeswoman for Johnson confirmed that the South Dakota Democrat is "next in line for the position."

"Now that Chairman Dodd has made his future plans known, Sen. Johnson is ready to assume the role," she said. "He is more than up to the task and has the confidence of the Majority Leader and his colleagues on the committee."

Johnson is currently the No. 2 Democrat on the Banking Committee, but some observers have privately questioned whether Senate leaders would pass over him in favor of Sen. Jack Reed of Rhode Island. Johnson’s speech has been impaired since a December 2006 brain hemorrhage, but he remains mentally fit.

The financial services industry is the top employer in his home state of South Dakota, and he ran for re-election in 2008 in part based on his seniority on the Banking Committee.

Johnson has long been a champion of community bank issues, including helping to reform the deposit insurance system and leading the fight to keep Wal-Mart Stores from buying an industrial loan company in Utah –- both key issues to smaller institutions...

(Excerpt) Read more at iddmagazine.com ...


TOPICS: Business/Economy; Politics/Elections; US: South Dakota
KEYWORDS: financialservices; publichousing
Johnson's claim to fame: He was the only Democrat to oppose legislation tightening regulations of the credit-card industry, which moved back-office operations to South Dakota when the state lifted limits on interest rates. The legislation passed 90-5.

And think, it could have been much worse, it could be Schumer. And this is all assuming the Democrats keep control of the Senate. If the Senate goes back to GOP control, Senator Shelby takes over.

1 posted on 01/07/2010 4:47:37 AM PST by La Lydia
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To: La Lydia

I know nothing about this Senator and only have one thing to say. If he has the confidence of Harry Reid he isnt worth crap.


2 posted on 01/07/2010 4:51:36 AM PST by Venturer
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To: La Lydia

I thought Johnson was in a coma or something. Did he recover?


3 posted on 01/07/2010 4:52:33 AM PST by FroggyTheGremlim
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To: La Lydia

Not so fast!

This presumes the Dem’s still have a majority after the 2010 revolution!


4 posted on 01/07/2010 4:52:53 AM PST by G Larry (DNC is comprised of REGRESSIVES!)
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To: La Lydia

How interesting. Will they discriminate against him because of his disability?

Love the position they find themselves.


5 posted on 01/07/2010 4:53:05 AM PST by Carley (OBAMA IS A MALEVOLENT FORCE IN THE WORLD)
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To: eCSMaster

“I thought Johnson was in a coma or something.”

It makes his vote more reliable.......


6 posted on 01/07/2010 4:54:53 AM PST by G Larry (DNC is comprised of REGRESSIVES!)
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To: eCSMaster

They claim he has recovered, been through rehab etc. Remains to be seen. I suspect his ga-ga level is close to Byrd’s, and his staff is running the show. Need to find out who his point person on Banking is. That individual would become Banking chief of staff, and therefore be the real person in charge.


7 posted on 01/07/2010 5:03:10 AM PST by La Lydia
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To: G Larry

You didn’t read my comment. As I pointed out when I posted this, “And this is all assuming the Democrats keep control of the Senate. If the Senate goes back to GOP control, Senator Shelby takes over.”


8 posted on 01/07/2010 5:04:31 AM PST by La Lydia
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To: La Lydia
Tim Johnson used to be a pretty decent guy, but since a massive stroke about two years ago his South Dakota values have disappeared and he is voting in lockstep with other Senate liberals.

His condition after his massive stroke was kept secret and for months the state had only one Senator. He was re-elected to the Senate perhaps on a sympathy vote as it was about 7 months after his stroke. He made virtually no campaign appearances in that race and his opponent was too decent to even hint that his health might be a factor.

Johnson has kept a low profile and has not made any major public appearance in South Dakota. From the sound bites one sees on local TV, his speech is impaired and he uses a power scooter to get around. His son Brenden, was recently appointed US District Attorney for South Dakota, perhaps due to his father's position.

Johnson voted for Obamacare and has been in favor of cap and trade both of which would be devastating for South Dakota.

9 posted on 01/07/2010 5:08:49 AM PST by The Great RJ ("The problem with socialism is that you eventually run out of other people's money." M. Thatcher)
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To: The Great RJ

Who is his chief of staff, and who is his point person on Banking?


10 posted on 01/07/2010 5:10:32 AM PST by La Lydia
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To: La Lydia
...has the confidence of the Majority Leader

But, who will be the majority leader? Dirty Harry will be in Searchlight,NV collecting his retirement pay....

11 posted on 01/07/2010 5:14:06 AM PST by pointsal
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To: La Lydia

We are in the best of hands.
A tax cheating liar for Sectary of the Treasury, who oversaw the Federal Bank of New York and basically Wall Street, and a outgoing wife swapping, drunk land chiseling, mortgage lying son of a ex felon is replaced with someone literally a drooling brain dead.

Thank God for Bernanke! (/sarc)


12 posted on 01/07/2010 5:14:34 AM PST by Leisler (We don't need a third party we need a conservative second party.)
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To: La Lydia

You’re right, I was only responding to the headline.


13 posted on 01/07/2010 5:20:25 AM PST by G Larry (DNC is comprised of REGRESSIVES!)
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To: La Lydia

“....his speech is impaired and he uses a power scooter to get around.”

Tim “Capt. Christopher Pike” Johnson.


14 posted on 01/07/2010 6:07:59 AM PST by LeonardFMason
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To: Venturer
"He is more than up to the task and has the confidence of the Majority Leader and his colleagues on the committee."

I know nothing about this Senator and only have one thing to say. If he has the confidence of Harry Reid he isnt worth crap.

The problem with this statement is that Harry Reid is going to lose his re-election bid and will not be the majority leader. It's even possible that the Dems won't be in the majority.

15 posted on 01/07/2010 6:08:37 AM PST by Retired COB (Still mad about Campaign Finance Reform)
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To: La Lydia

yes the Progressive Base is howling this AM over his role in the whole credit card thing


16 posted on 01/07/2010 6:25:42 AM PST by Buckeye McFrog
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To: La Lydia

Tim Johnson SPEAKS for all South Dakotaians. (Sarcasim) He’s in a wheelchair and mumbles - why would they elect him? Rep at large Stephanie Sandlin is worthless too - says she’s a conservative but is always there to vote with Pelosi.


17 posted on 01/07/2010 6:26:18 AM PST by calico_thompson
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