Dem moderates, liberals lash out over Dodd-Frank
Liberal Massachusetts Rep. Mike Capuano incensed the moderates when he said if Democrats support rolling back Dodd-Frank regulations, you might as well be a Republican. | AP Photo
Moderate House Democrats are warring with the dominant liberal faction over the leftward shift of the caucus, arguing that theyll never win back the majority if they dont change their message.
Tension reached a boiling point during a closed-door caucus meeting Wednesday over the partys stance toward Wall Street banks, according to multiple sources at the meeting.
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Liberal Massachusetts Rep. Mike Capuano incensed the moderates when he said if Democrats support rolling back Dodd-Frank regulations, you might as well be a Republican.
Capuanos comments were so pointed he immediately offended the handful of Democrats who had voted with Republicans previously on the issue and still support it, the sources said. Capuano said in an interview that he stood by his remarks and he had not heard that any of his colleagues were upset. The bill was defeated by Democrats Wednesday.
The moderate Democrats pushed back in the caucus meeting in exchanges described as intense and emotional.
They were angered because that same legislation had garnered support from more than 70 Democrats in the 113th Congress, but became a political landmine after Sen. Elizabeth Warren (D-Mass.) criticized the legislation as a Wall Street handout.
The vocal infighting highlights the growing divide between the large bloc of Warren liberals and the dwindling number of moderate Democrats a fight that will likely continue next week when Republicans make their second attempt to change the controversial Dodd-Frank law.
I feel strongly that the Democratic body is supposed to be representing the average American who is unaware and incapable of defending themselves when it comes to things like Wall Street abusing them, Capuano said in an interview. I feel strongly about it and I said so.
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Dem moderates, liberals lash out over Dodd-Frank