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• W214930574 abstract "dedicated consumerist takes the reins at Senate Banking. Bankers who know the Maryland Senator caution against pigeonholing him For years, banker George F. Cormeny, Jr., has been one of the Maryland financial community's links with Sen. Paul S. Sarbanes. done the Washington visits and much of the rest of the work involved in communicating with the nation's legislators on behalf of his institution, AllFirst Bank, and the Maryland Bankers Association. Last January, when the Democrats had in the new Senate, until the new president and vice-president were sworn in, became Senate Banking Committee chairman for 17 days. Cormeny, senior vice-president at AllFirst, couldn't resist the urge to give his longtime contact a friendly kidding, so he sent off a letter that read, in effect: Oh, the things we say in jest. Dear Mr. Chairman: I just wanted to be the first to acknowledge this new title, however short-lived it may be. With the swearing in of Vice-President Dick Cheney, Sarbanes' brief chairmanship reverted to Phil Gramm of Texas, and all of the odds-makers resumed their predictions based on having a Republican majority in place. The events of late May, in which a crisis of conscience for Sen. James Jeffords of Vermont led to his converting from a Republican to an independent who would caucus with the Democrats, changed everything. Even early in that week when Jeffords pulled the pin on his grenade, Washington observers with the best of radar pooh-poohed any such turnaround. But it happened. And within hours of Jeffords' making his official announcement, called a press conference to disclose how he planned to change the direction of the Senate Banking, Housing and Urban Affairs Committee. box on the next page of this article summarizes some of what said at that press briefing, and the lead article in Briefing (page 6) gives more details on the impact of the change. However, more to the point for bankers' future with the committee is, who is Paul Sarbanes? We talked to lobbyists from a number of interest groups of different stripes, and other Washington observers. But besides rounding up the usual suspects, to borrow from Casablanca, we also talked to several Maryland bankers who know him well. What they had to say may be surprising. George Cormeny says, for example, A lot of people are looking on this as a meltdown. But the banker thinks that's simplistic. Besides, he notes that, Yes, the Democrats get all the chairmanships and now set the agendas, but they don't have all the votes. Working with One of the things bankers and lobbyists have to say about Sarbanes, 68, is that he is not a closed door. Even if he agrees with little of what you think, he will give you the opportunity to have your say. Kathleen Murphy, executive vice-president of the Maryland Bankers Association, has found him quite generous with his time when banker delegations visit Capitol Hill. He's been extremely accessible, says Murphy. Our relationship with him is very much a dialogue. She says has met for as long as an hour with MBA delegations--a generous chunk of time our of the busy schedule of any U.S. Senator, let alone a ranking member or a committee chairman. (Sarbanes, incidentally, recently set a state milestone, becoming the longest continuously elected senator from the state, at 24 years.) While has been the name behind some legislation that many bankers have not liked--the new privacy regulations being a prime example--Maryland bankers say they find common ground with when the issue is community. Sarbanes really cares about housing and urban affairs issues, says Murphy. About a year ago, when the Maryland bankers sponsored a bus tour of Baltimore City to highlight its needs and some of the work of the state's banks in meeting those needs, not only sent half a dozen staffers to spend the whole day at the event, but spent part of the day there himself. …" @default.
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• W214930574 title "Paul Sarbanes Mr. Chairman" @default.
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