The nomination of Democrat Caroline Crenshaw for another term as a commissioner at the Securities and Exchange Commission (SEC) has encountered significant hurdles. Originally set for a vote by the Senate Banking Committee, the proceedings were unexpectedly postponed. This decision was made by Senate Banking Committee Chair Sherrod Brown, who delayed the vote just minutes before it was scheduled to take place on Wednesday morning, despite the presence of the committee’s Republican members.
Procedural Roadblocks and Delays
The delay in the vote was primarily due to Republican senators blocking Brown’s request to bypass procedural rules and reschedule the vote for later in the day. According to a Senate aide, the clash arose from a Senate rule that limits committee meetings once the Senate has been in session for two hours or past 2:00 p.m. EST. Although a waiver could have been provided to allow the vote to proceed as planned, Republican senators, led by Ranking Member Senator Tim Scott, opposed this move.
Uncertain Future for Crenshaw’s Nomination
With the waiver blocked, Chair Sherrod Brown is now tasked with rescheduling the vote. However, the timeline for when this will occur remains uncertain. A request for comment on the situation is currently awaiting a response.
Political Tensions and Public Comments
Fox Business journalist Eleanor Terrett reported on the escalating tensions, with Sherrod Brown expressing frustration over the situation. Brown remarked, “This is why people hate Washington. Corporate special interests have run a disgusting smear campaign against Caroline Crenshaw, an Army reservist and public servant who has been nominated and confirmed by a Republican President and Republican Senate. She has been thoroughly vetted and has gone through every step in the nomination process. Republican Senators are doing the bidding of corporate special interests and standing in the way of her confirmation.”
Criticism from Legal Circles
In addition to the political discord, pro-XRP attorney John Deaton voiced his criticism of Caroline Crenshaw’s past actions. Deaton accused her of advocating to ignore the Court of Appeals that oversees the SEC, which he argued undermines the principle of rule of law. He stated that members of the SEC cannot claim to uphold the law while disregarding it when it conflicts with their personal views. Deaton labeled her actions as a “disgrace” and claimed they dishonored the oath she took as a public servant.
Conclusion
The delays and controversies surrounding Caroline Crenshaw’s nomination highlight the complex interplay of political, legal, and corporate factors in Washington. As the situation unfolds, it remains to be seen how these dynamics will impact the final decision on her appointment to the SEC.
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