For a quirky reason, Fullerton Congressman Ed Royce has a chance to leapfrog over more senior Republicans to become chairman of the powerful House financial services committee, according to a new article in Mother Jones magazine.
Royce and Spencer Bachus, an Alabama Republican with more seniority, are both vying for the top spot, but the magazine's Andy Kroll reports that Royce has won favor in conservative circles because of his feisty, confrontational demeanor with Rep. Barney Frank, the leading House Democrat on financial matters.
“While Bachus struggled as ranking member to match Barney Frank's blistering rhetoric, Royce showed no hesitation to lock horns with the Massachusetts Democrat,” Kroll wrote. “Royce's willingness to trade barbs is likely one of the main reasons his challenge to Bachus' seat has made headway at all.”
Both Bachus and Royce–who is physically petite with a surprisingly booming voice–not only oppose new financial reform laws enacted after the Wall Street meltdown, but are openly advocating that the Republican-controlled House should withhold funds from agencies required to enforce them.
The last Orange County Republican with power over the nation's markets was Christopher Cox, who we first observed would be a disaster as chairman of the Securities and Exchange Commission. He was. You should know that Royce comes from the Cox School of Economic Disasters.
You can read the Mother Jones article HERE.
–R. Scott Moxley / OC Weekly