Posted on 06/27/2002 8:04:41 AM PDT by b4its2late
WASHINGTON - Rep. John J. LaFalce, the top Democrat on the House Financial Services Committee, announced Wednesday that he will retire from Congress at yearend.
Rep. LaFalce faced a tough primary as a result of a New York redistricting plan that was finalized this week. Under the plan, Rep. LaFalce would have been pitted against fellow Democrat Louise M. Slaughter, as parts of his Buffalo-area district would overlap parts of her territory in Rochester.
He said he is planning to pursue a new career. "Whether this career change will take me back to the law, or a career in social justice, academia, corporate governance, or other public service I simply do not know," he said.
Rep. Barney Frank of Massachusetts, one of the most liberal Democrats in the House, is next in line to become the top Democrat on the panel. However, it was uncertain Wednesday afternoon if he would choose to take the position, given his more active involvement in the House Judiciary Committee, where he is also the second-ranking Democrat.
Third in line for the job is Rep. Paul Kanjorski of Pennsylvania. Rep. Kanjorski is the top Democrat on the wide-ranging capital markets, insurance, and government-sponsored enterprises subcommittee but faces a tough race for reelection.
The news of Rep. LaFalce's retirement sent shock waves through the financial services community. "John LaFalce was a forceful and effective advocate for his position - sometimes to the left of our positions - but nevertheless always recognized the forces of a competitive marketplace as a force for good," said Steve Bartlett, the president of the Financial Services Roundtable.
I used to live in Congressman John "Fat Dog" LaFalce's district until recently - the guy was an embarrassment to the town, the state, and the country. The worst was when they'd have Greenspan up on the Hill - watching LaFalce try to "grill" him was just painful.
and what rino is that, Joel Giambra? There isn't an elected republican in this state..
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