Word: kaufman
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...White House has mostly avoided direct public engagement with its unlikely critic. On ABC's This Week recently, White House economic aide Larry Summers dodged a question about Kaufman's complaints. "Senator Kaufman is exactly right," he said instead, sympathizing with the concern about large bank failures. In fact, on whether to dismantle the largest banks, it would be hard for the two men to disagree more...
...Kaufman, who has taught politics at Duke and holds an MBA from Wharton, traces the roots of the collapse to what he calls the "great regulatory meltdown" of the past two decades, a move that was largely endorsed by Summers when he served as Treasury Secretary under President Clinton. But the Senator has been careful to avoid criticizing Democrats directly. He says he has not talked with the White House - or former boss Biden - about these issues and has only words of praise for Connecticut Senator Chris Dodd, a onetime champion of deregulation who wrote the Banking Committee bill...
...Senate office, Kaufman has stacked the latest books on the financial crisis on his desk, background reading for his regular trips to New York to meet with bankers and analysts. Financial regulation is a crusade he never expected to take on when he accepted his two-year posting. But his 32 years as a Senate aide - and his subsequent time as an academic observer of Washington - taught him not to be discouraged by long odds...
...reasons I love this place is, I have been hanging out here since 1973, and you never know what's going to happen," he says. In other words, Kaufman is confident that the last big fight of his short Senate career has only just begun...
...original version of this article misstated that Sen. Ted Kaufman had served for 32 years as a Senate aide. In fact, Kaufman served as an aide to then Sen. Joe Biden for 22 years, from...