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November 21, 2008 The King is dead; Long Live the KingRepresentative John Dingell (D-General Motors) has lost his chairmanship of the powerful Energy and Commerce Committee. The full Democratic caucus voted yesterday to strip the 82 year old holdover from the Eisenhower Administration days and replace him with Henry Waxman (D-Partisan Hack), a Watergate Baby first elected in that famous class of 54 Democrats who rode into Washington in 1975 as a result of a voter backlash against Nixon's crimes. With Waxman in charge they may have to rename the committee to the "Energy and Anti-Commerce" committee. There are few more liberal, more anti-business Congressmen in Washington. And now Waxman will ride herd on energy legislation as well as an attempted re-regulation of many, many industries. The Wall Street Journal puts Waxman's victory over the old New Dealer Dingell in perspective:
Business will no doubt be in for a rough few years as the Obama White House and Congressional liberals will attack from two sides - regulatory and legislative - in an effort to overwhelm industries with challenges. In this kind of atmosphere, industry will play ball and grovel for concessions while simultaneously filling the campaign coffers of Democrats. It's not a question of being "brave." It is a matter of survival. Democrats will have them over a barrel and there is very little business will be able to do about it. Barack Obama - change we can go bankrupt to. |
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