We Hear, We Hear, We Hear....

...that newly minted Congresswoman Jackie Speier (D-CA), who just won the special election to replace the late Rep. Tom Lantos (D-CA), is likely going to be named to the House Financial Services Committee today. Why do you care? Because that is creating angst for financial industry types. Rep. Speier is likely to push for legislation out of the Committee that will put her fellow Democrats in a bind. Meaning - legislation that if Democrats support then they will loose their K Street fundraising donations, but if they ignore will then hurt them back home in their districts. Example? Think about things like privacy legislation. Popular with voters but not so popular if you are on Wall Street.

Rep. Speier put the House on notice that she's come to shake things up when in her inaugural House speech she spoke passionately about Iraq. A new member's inaugural speech is generally filled with platitudes about cooperation, but Speier spoke her mind. Result: Some Republicans walked out.

Financial Services Chairman Barney Frank, who recently won accolades for his fairness on the Committee, will have a new ball to juggle to be certain.

We'll look forward to watching her and the Committee.