WASHINGTON House Financial Services Committee Chairman Michael G. Oxley on Friday formally announced the jurisdiction and chairmen of the new panels subcommittees.
As expected, Rep. Richard H. Baker, R-La., was named chairman of an expanded subcommittee that has a powerful sphere of influence: securities, insurance, capital markets, and government-sponsored enterprises. He had headed a capital markets subcommittee with narrower authority under the old House Banking Committee since 1995.
Rep. Marge Roukema, R-N.J., was removed from the top slot on the financial institutions subcommittee because of Republican term limits on subcommittee leaders, she said last week - to lead the housing subcommittee. The 11-term congressional veteran was the top Republican on the housing panel from 1987 to 1994, when she became chairwoman of financial institutions.
Rep. Spencer T. Bachus, a five-term member of Congress, is filling her shoes on financial institutions. The Alabama Republican has given up the former domestic and international monetary policy subcommittee. That subcommittee was split in two, with the domestic monetary policy and technology component going to Rep. Peter T. King, R-N.Y., and international and trade matters being handled by Rep. Doug Bereuter, R-Neb.
Rep. Sue Kelly, R-N.Y., is chairwoman of the oversight subcommittee. Im fielding a first-rate lineup, said Rep. Oxley, an Ohio Republican, in a statement. As I quarterback this team, I know I can depend on each one of these chairmen to catch the pass.