Congressional Oversight

Eleanor Eagan and Jeff Hauser
Immediately following President Trump’s election, Fannie Mae and Freddie Mac’s future generated renewed and robust interest. The Government Sponsored Entities’ (GSE) shares rallied on expectations that the Trump administration would take both entities out of conservatorship in a manner that rewarded all shareholders, including hedge-fund speculators. In the intervening two years, however, those expectations faded and shares in the GSEs underwent a slow decline.

Jeff Hauser and Eleanor Eagan
House Ways and Means Committee Chairman Richard Neal (D-MA) has been criticized by many, including us, for his failure to pursue Trump’s tax returns in a timely manner. In an article in the Berkshire Eagle with the friendly title, “Neal lays groundwork on push for Trump tax returns,” Neal gave his constituents his side of the story.

Below, we annotate Neal’s claims.

The executive branch has been overrun by individuals who have consistently consequences. It is, therefore, unsurprising that last week, two Treasury Department officials declined to make themselves available to speak with the House Committee on Ways and Means. 

Eleanor Eagan, Jeff Hauser, and Adewale Maye
You have likely not heard of Joseph Otting, as he has generated comparatively little attention amidst the circus that is President Trump’s executive branch. However, he is a deeply problematic official who has quietly amassed power in critical agencies that receive far too little attention given their impact on the economy and housing. Amazingly, Otting seems to be using these agencies to act upon resentments he developed as a “controversial,” at best, banking executive, making him a perfect representative of why we are concerned by the revolving door problem in our federal government.

There was supposed to be one genuinely easy victory for the new Democratic majority in the House. Medicare for All? No. Green New Deal? No. Critical? Yes—but easy? No. But Trump’s tax returns? Yes, the new majority was supposed to be able to inspect that holy grail of opposition research.

That’s why one of the most discordant notes of the first week of the new Congress was a decision by Representative Richard Neal of Massachusetts, the newly elevated chair of the powerful House Committee on Ways and Means, to retreat on his promises to move quickly to obtain Trump’s tax returns. 

Want Americans to feel like the country is fair? Think the rule of law is important? Prosecute powerful people when they commit crimes. Even people who worked for a president. Even a former president.

The story of 21st-century America is complex, but the narrative of powerful people behaving terribly and getting away with it is arguably the common thread.

The dozens of newly elected Congressional Democrats sworn in last week are getting a lot of much-deserved attention. They are a diverse group who represent a wide variety of districts, but they are united by a common dilemma—how can junior members of a party that lacks control of the U.S. Senate or presidency make their mark with legislation?

Barring miracles, the sad fact is that over the next two years, they cannot.

Much of the commentary surrounding the midterm elections focuses on the divide between increasingly Democratic metropolitan areas and increasingly intensely Republican rural and small-town America.

Some pundits and former elected officials claim an emphasis on “the opioid crisis” and rural economic development policy proposals can address Democrats’ weaknesses in areas with disproportionate power in the Senate.

Many election analyses in the Trump era pose false choices for Democrats seeking to gain control of the U.S. Congress. That’s especially true in the abundant category of commentary and analysis asking: “What should Democrats do?”

Consider some of the classics of the “advice” genre: “Democrats should focus on health care, not Russia” or, “Trump’s appeal was based on economics, not racism.”