Difference between revisions of "Blanche Lincoln"

From SourceWatch
Jump to navigation Jump to search
Line 9: Line 9:
 
As the Senate began the debating the financial reform bill in May, Senator Lincoln decided to take an tough stance against banks regarding derivatives trading.<ref>Edward Wyatt, [http://www.nytimes.com/2010/05/16/us/politics/16derivatives.html "Blanche Lincoln Finds Few Allies on Derivatives Ban,"],"New York Times," May 15, 2010.</ref> Lincoln's amendment calls a separation between banks business serving the general public and their activities in credit derivative swaps. The amendment, which was voted on by the Senate and rolled into the larger Senate financial reform bill, "will force the biggest banks to spin off their swaps (or derivatives) desks into a separate entity. That entity will be regulated and can remain part of the bank holding company, but it no longer has access to the Federal Reserve's flow of funds, FDIC insurance and the taxpayer guarantee. Supporters include legendary economists and public policy experts such as Robert Reich, Joseph Stiglitz, Nouriel Roubini, and Michael Greenberger." <ref>Mary Bottari, [http://www.banksterusa.org/content/midnight-massacre-pending-lets-whip-our-senators "Midnight Massacre Pending, Let's Whip Our Senators,"], "BanksterUSA," May 13, 2010.</ref> The derivatives measure in the bill will target the five largest banks that account for 90% of the these derivative measures. <ref>Id.</ref> " Lincoln's amendment will go right after the deals that Goldman Sachs is now being officially investigated for and Lincoln's language is #1 on their hit list." <ref>Id.</ref>   
 
As the Senate began the debating the financial reform bill in May, Senator Lincoln decided to take an tough stance against banks regarding derivatives trading.<ref>Edward Wyatt, [http://www.nytimes.com/2010/05/16/us/politics/16derivatives.html "Blanche Lincoln Finds Few Allies on Derivatives Ban,"],"New York Times," May 15, 2010.</ref> Lincoln's amendment calls a separation between banks business serving the general public and their activities in credit derivative swaps. The amendment, which was voted on by the Senate and rolled into the larger Senate financial reform bill, "will force the biggest banks to spin off their swaps (or derivatives) desks into a separate entity. That entity will be regulated and can remain part of the bank holding company, but it no longer has access to the Federal Reserve's flow of funds, FDIC insurance and the taxpayer guarantee. Supporters include legendary economists and public policy experts such as Robert Reich, Joseph Stiglitz, Nouriel Roubini, and Michael Greenberger." <ref>Mary Bottari, [http://www.banksterusa.org/content/midnight-massacre-pending-lets-whip-our-senators "Midnight Massacre Pending, Let's Whip Our Senators,"], "BanksterUSA," May 13, 2010.</ref> The derivatives measure in the bill will target the five largest banks that account for 90% of the these derivative measures. <ref>Id.</ref> " Lincoln's amendment will go right after the deals that Goldman Sachs is now being officially investigated for and Lincoln's language is #1 on their hit list." <ref>Id.</ref>   
  
−
"The swaps business, which accounts for billions in bank profits, is so desirable that the banks have all but given up fighting other restraints on their derivatives business." <ref>Edward Wyatt, [http://www.nytimes.com/2010/05/16/us/politics/16derivatives.html "Blanche Lincoln Finds Few Allies on Derivatives Ban,"], "New York Times," May 15, 2010. Lincoln's provision in the financial reform bill faces opposition from some big name officials. The chairman of the Federal Reserve, Secretary of Treasury, and Paul Volcker all oppose the derivative measure, arguing that it goes too far. <ref>Id.</ref> However, many of Lincoln's supporters argue that the derivative measure in the bill correctly affirms bank's separate role in serving the public. If a bank is simply serving a public role as a lender, it deserves to be bailed out. <ref>L. Randall Wray, [http://www.huffingtonpost.com/l-randall-wray/senator-blanche-lincolns_b_547752.html "Senator Blanche Lincoln's Derivatives Reform Bill Must Pass,"], "Huffington Post, April 22, 2010. Wray continues to frame Lincoln's bill in this manner: "Here is the choice she offers: you can continue with your derivatives, acting against the public interest, or you can be a bank. You cannot be both. Take your choice: blood-sucking vampire squid? Or, serve the public interest. If you go for squid, you lose all public protection. In that case, you go "free market" with all that entails-higher costs of borrowing, 100% downside risk, and prosecution when you lie and deceive." <ref>Id.</ref>  
+
"The swaps business, which accounts for billions in bank profits, is so desirable that the banks have all but given up fighting other restraints on their derivatives business." <ref>Edward Wyatt, [http://www.nytimes.com/2010/05/16/us/politics/16derivatives.html "Blanche Lincoln Finds Few Allies on Derivatives Ban,"], "New York Times," May 15, 2010. </ref> Lincoln's provision in the financial reform bill faces opposition from some big name officials. The chairman of the Federal Reserve, Secretary of Treasury, and Paul Volcker all oppose the derivative measure, arguing that it goes too far. <ref>Id.</ref> However, many of Lincoln's supporters argue that the derivative measure in the bill correctly affirms bank's separate role in serving the public. If a bank is simply serving a public role as a lender, it deserves to be bailed out. <ref>L. Randall Wray, [http://www.huffingtonpost.com/l-randall-wray/senator-blanche-lincolns_b_547752.html "Senator Blanche Lincoln's Derivatives Reform Bill Must Pass,"], "Huffington Post, April 22, 2010. Wray continues to frame Lincoln's bill in this manner: "Here is the choice she offers: you can continue with your derivatives, acting against the public interest, or you can be a bank. You cannot be both. Take your choice: blood-sucking vampire squid? Or, serve the public interest. If you go for squid, you lose all public protection. In that case, you go "free market" with all that entails-higher costs of borrowing, 100% downside risk, and prosecution when you lie and deceive." <ref>Id.</ref>  
  
  

Revision as of 22:38, 12 June 2010

Blanche Lincoln currently serves as the Sr. Senator for Arkansas

Blanche Lambert Lincoln, a Democrat, has represented Arkansas in the United States Senate since 1998.

Record and controversies

Bank Reform Bill Derivatives Amendment

As the Senate began the debating the financial reform bill in May, Senator Lincoln decided to take an tough stance against banks regarding derivatives trading.[1] Lincoln's amendment calls a separation between banks business serving the general public and their activities in credit derivative swaps. The amendment, which was voted on by the Senate and rolled into the larger Senate financial reform bill, "will force the biggest banks to spin off their swaps (or derivatives) desks into a separate entity. That entity will be regulated and can remain part of the bank holding company, but it no longer has access to the Federal Reserve's flow of funds, FDIC insurance and the taxpayer guarantee. Supporters include legendary economists and public policy experts such as Robert Reich, Joseph Stiglitz, Nouriel Roubini, and Michael Greenberger." [2] The derivatives measure in the bill will target the five largest banks that account for 90% of the these derivative measures. [3] " Lincoln's amendment will go right after the deals that Goldman Sachs is now being officially investigated for and Lincoln's language is #1 on their hit list." [4]

"The swaps business, which accounts for billions in bank profits, is so desirable that the banks have all but given up fighting other restraints on their derivatives business." [5] Lincoln's provision in the financial reform bill faces opposition from some big name officials. The chairman of the Federal Reserve, Secretary of Treasury, and Paul Volcker all oppose the derivative measure, arguing that it goes too far. [6] However, many of Lincoln's supporters argue that the derivative measure in the bill correctly affirms bank's separate role in serving the public. If a bank is simply serving a public role as a lender, it deserves to be bailed out. Cite error: Closing </ref> missing for <ref> tag


General information about important bills and votes for can be found in Congresspedia's articles on legislation. You can add information you find on how Blanche Lincoln voted by clicking the "[edit]" link to the right and typing it in. Remember to cite your sources!

H.R. 3590 Patient Protection and Affordable Care Act (health care reform)

On December 9, 2009, Senator Lincoln was one of ten Democratic Senators to reach what Senate Majority Leader Harry Reid called a “broad agreement”[1]on the Patient Protection and Affordable Care Act. The discussion focused on abandoning or greatly narrowing the public health insurance option. In exchange, people 55-64 would be able to buy in to Medicare and Medicaid eligibility would be expanded to people within 150 percent of the federal poverty line. Senate Majority Leader Harry Reid’s office released a statement on the compromise:

"I asked Senators Schumer and Pryor to work with some of the most moderate and most progressive members of our diverse caucus, and tonight they have come to a consensus. 
It is a consensus that includes a public option and will help ensure the American people win in two ways: one, insurance companies will face more competition, and two, the American people will have more choices. I know not all 10 Senators in the room agree on every single detail of this, nor will all 60 members of my caucus. But I know we all appreciate the hard work that these progressives and moderates have done to move this historic debate forward. I want to thank Senators Schumer, Pryor, Brown, Carper, Feingold, Harkin, Landrieu, Lincoln, Nelson and Rockefeller for working together for the greater good and never losing sight of our shared goal: making it possible for every American to afford to live a healthy life. As is long-standing practice, we do not disclose details of any proposal before the Congressional Budget Office has a chance to evaluate it. We will wait for that to happen, but in the meantime, tonight we are confident." [2]

H.R. 1424 (2008 Bailout Bill)

Lincoln voted for the 2008 Bailout Bill [3] in October 2008.


Iraq War

Lincoln voted for the Authorization for Use of Military Force Against Iraq in Oct. 2002.

For more information see the chart of U.S. Senate votes on the Iraq War.

Environmental record

For more information on environmental legislation, see the Energy and Environment Policy Portal

Bio

Lincoln was born in September 30, 1960 in Helena, Arkansas. She graduated from Randolph-Macon Woman's College in Lynchburg, Virginia in 1982. She studied law at the University of Arkansas.

Immediately after graduating, she became staff assistant to Congressman Bill Alexander and served in his office until 1984. Lincoln ran successfully against Alexander in the Democratic primary of 1992 and took his seat in the U.S. House. Lincoln served in the House until 1997.

In 1998, Lincoln returned to politics and ran for the U.S. Senate seat being vacated by incumbent Democrat Dale Bumpers. She defeated her Republican opponent, Fay Boozman, by a margin of 55%-42%. She was the youngest woman ever to be elected to the Senate at the age of 38.

Lincoln has concentrated primarily on rural and farm issues. She is one of the primary advocates of the Delta Regional Authority (DRA), which is designed to spur development in the lower Mississippi Delta region. She is also the Chair of Rural Outreach for the Senate Democratic Caucus.

She is considered to be a moderate or Centrist Democrat. Lincoln was among the minority of Democrats to support CAFTA and she is opposed to most protectionist trade measures. She has voted in favor restricting class action lawsuits and tightening rules on personal bankruptcy. She was one of the few Democrats in Congress to vote in favor of the tax cut passed in 2001, though she now advocates scaling back or eliminating the portions of that tax cut, and other tax cuts, that benefit those tax payers with incomes over $300,000. She supports the permanent elimination of the estate tax. Lincoln voted to ban partial-birth abortions and strongly supported the Protection of Lawful Commerce in Arms Act to ban lawsuits against gun manufacturers and distributors.

2008 elections

Sdtp-banner.jpg
 This information was gathered by volunteer researchers as part of the Superdelegate Transparency Project on the superdelegates for the 2008 Democratic presidential primary. For more info see the Arkansas superdelegate tracker or visit the STP homepage.


Before Hillary Clinton conceded the race, Blanche Lincoln, as a superdelegate, had endorsed her for President.

For more information and sources, see the state page for this superdelegate linked to in the blue box above.

Money in politics

This section contains links to – and feeds from – money in politics databases. <crpcontribdata>cid=N00008092&cycle=2006</crpcontribdata>

Links to more campaign contribution information for Blanche Lincoln
from the Center for Responsive Politics' OpenSecrets.org site.
Fundraising profile: 2006 election cycle Career totals
Top contributors by organization/corporation: 2006 election cycle Career totals
Top contributors by industry: 2006 election cycle Career totals


Committees and Affiliations

Committees

Committee assignments in the 109th Congress (2005-2006)

More Background Data

Wikipedia also has an article on Blanche Lincoln. This article may use content from the Wikipedia article under the terms of the GFDL.

Contact

DC Office:
355 Dirksen Senate Office Building
Washington, DC 20510-0404
Phone: 202-224-4843
Fax: 202-228-1371
Web Email
Website

District Office - Dumas:
155 East Waterman
Dumas, AR 71639
Phone: 870-382-1023
Fax: 870-382-1026

District Office - Jonesboro:
Federal Building
615 South Main Street
Suite 315
Jonesboro, AR 72401
Phone: 870-910-6896
Fax: 870-910-6898

District Office - Little Rock:
912 West Fourth Street
Little Rock, AR 72201
Phone: 501-375-2993
TollFree: 800-352-9364
Fax: 501-375-7064

District Office - Texarkana:
Miller County Courthouse
400 Laurel Street
Suite 101
Texarkana, AR 71854
Phone: 870-774-3106
Fax: 870-774-7627

Articles and resources

Local blogs and discussion sites

Corresponding article on Wikipedia and Cause Caller. (If Cause Caller link does not work, pick from its list of senators and representatives.)

Current Office: U.S. Senate
111th Congress
Leadership Position:
 Committees Chaired:
 Committees,
Ranking Member On:
 Caucuses:
Committees:
110th Congress
Leadership Position:
Chair of Rural Outreach 		Committees Chaired:
 Committees,
Ranking Member On:
 Caucuses:
Committees: Senate Committee on Agriculture Nutrition and Forestry, Senate Committee on Agriculture Nutrition and Forestry/Subcommittee on Nutrition and Food Assistance Sustainable and Organic Agriculture and General Legislation, Senate Committee on Agriculture Nutrition and Forestry/Subcommittee on Production Income Protection and Price Support, Senate Committee on Agriculture Nutrition and Forestry/Subcommittee on Rural Revitalization Conservation Forestry and Credit, Senate Special Committee on Aging, Senate Committee on Energy and Natural Resources, Senate Committee on Energy and Natural Resources/Subcommittee on Public Lands and Forests, Senate Committee on Energy and Natural Resources/Subcommittee on National Parks, Senate Committee on Energy and Natural Resources/Subcommittee on Water and Power, Senate Committee on Finance, Senate Committee on Finance/Subcommittee on Energy Natural Resources and Infrastructure, Senate Committee on Finance/Subcommittee on Health Care, Senate Committee on Finance/Subcommittee on International Trade and Global Competitiveness
Congressional Career
First Elected to Current Office:
November 3, 1998 		First Took Current Office:
January 6, 1999 		Next Election:
November 2, 2010 		Term Ends:
Freshman Member?
No 		Previous Political Work?
U.S. House, 1993-96,Co-founder, Blue Dog Coalition, 		Other Party Membership:
District Offices:
1. 155 East Waterman, Dumas, AR 71639
Phone: 870-382-1023 / Fax: 870-382-1026
2. Federal Building, 615 South Main Street, Suite 315, Jonesboro, AR 72401
Phone: 870-910-6896 / Fax: 870-910-6898
3. 912 West Fourth Street, Little Rock, AR 72201
Phone: 501-375-2993, 800-352-9364 / Fax: 501-375-7064
4. Miller County Courthouse, 400 Laurel Street, Suite 101, Texarkana, AR 71854
Phone: 870-774-3106 / Fax: 870-774-7627



Campaign Contact:

Website:
Webform Email: / Email:

Campaign Offices:

1.
Phone: / Fax:



Zip Code Affiliations:
Misc:

Date of Birth: September 30, 1960






  1. ↑ Edward Wyatt, "Blanche Lincoln Finds Few Allies on Derivatives Ban,","New York Times," May 15, 2010.
  2. ↑ Mary Bottari, "Midnight Massacre Pending, Let's Whip Our Senators,", "BanksterUSA," May 13, 2010.
  3. ↑ Id.
  4. ↑ Id.
  5. ↑ Edward Wyatt, "Blanche Lincoln Finds Few Allies on Derivatives Ban,", "New York Times," May 15, 2010.
  6. ↑ Id.
Retrieved from "https://www.sourcewatch.org/index.php?title=Blanche_Lincoln&oldid=480976"