Wall Street could benefit from Senate chairmanship shuffle

08/27/2009 | Politico (Washington, D.C.)

The death of Sen. Ted Kennedy could result in the move of Chris Dodd, chairman of the Senate Banking Committee, to the Health, Education, Labor and Pensions Committee. Sen. Tim Johnson, D-S.D., who is one of Capitol Hill's largest proponents of the financial-services industry, would be next in line to head the banking committee. "No one is pro-industry today, but he's been historically very receptive," said a top financial-services lobbyist. "He's been sensitive to the impact of legislation on the financial-service industry given the large number of jobs he represents."

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