Not long ago we were promoting action plans to help Congressman Brad Miller push his mortgage cramdown legislation through the U.S. House. The bill might not have been named after him, but his fingerprints were all over it. He was recognized for his hard work by some of his peers as they spoke about the legislation on the House floor.
Rep. Barney Frank has asked Brad to serve as somewhat of a financial enforcer. From The Hill:
Barney Frank has found in Brad Miller something of a deputy cop to make new financial regulations as strong as possible.
Miller, a House Democrat from North Carolina, doesn’t often play the finger-pointing, headline-grabbing member who scolds well-heeled bankers for crippling the economy.
But the soft-spoken Southerner has emerged as a critical player at the center of 2009’s major financial battles. And he has an understanding with Frank, chairman of the House Financial Services Committee, to beef up legislation as much as possible.
Frank, the tough-talking quipster who is much Miller’s mirror-opposite personality, said the Tar Heel lawmaker is “very influential” and understands consumer issues and their role in the broader economy “better than almost anyone on the committee.”
While Miller has had a hand already in a broad range of housing and mortgage lending issues, his most critical work this year will come as Congress debates setting up a new Consumer Financial Protection Agency to oversee products like mortgage loans and credit cards.
Those of us who have followed Brad Miller have heard him speak on a broad spectrum of issues in the financial services industry. He's worked hard and I'm sure he's felt like his head was hitting a wall at times. Still, it's nice to know someone was listening. According to Frank, though, folks should have been listening to Brad Miller years ago.
“Look, if people listened to Brad five years ago, we wouldn’t have had a terrible sub-prime crisis,” Frank told The Hill.
It's a great piece. Make sure to read it.