D.C. clash over bank bonus revisited
This Sept. 27, 2012 file photo shows now retired Sen. Jim Webb, D-Va., as he speaks during a rally for President Barack Obama in Virginia Beach, Va. Credit: AP / Steve Helber
Former Sen. Jim Webb of Virginia last week became the first well-known Democrat to launch a presidential exploratory committee for 2016 -- setting him on a potential collision course against former Secretary of State and ex-New York Sen. Hillary Rodham Clinton.
Earlier this month, Webb was quoted in the New Yorker magazine on his effort in 2010, alongside Sen. Barbara Boxer (D-Calif.), to impose a windfall profit tax aimed at banks that got major government bailouts in 2009 but gave out fat executive bonuses. Webb recalled that "the financial sector was furious" at such an effort, and one Northeastern senator, whom he declined to publicly name, "was literally screaming at me on the Senate floor."
Privately, sources said, Webb has told the story referring to New York's Kirsten Gillibrand, a Democrat, Clinton successor and supporter. A Webb spokeswoman, Kristian Denny, declined to comment other than to confirm the magazine's account of his remarks as accurate. But Gillibrand spokesman Glen Caplin insists no screaming, yelling, or shouting took place, at least when Webb spoke with Gillibrand.
One ally of hers said she and Webb had a brief conversation -- "two sentences" -- during which she asked him to explain his position.
Leading New York officials around that time, including Gov. David A. Paterson and Mayor Michael Bloomberg, talked up the importance of Wall Street payouts in generating tax revenue and other economic benefits for the city and state. For his part, Webb cited resistance to the bill to illustrate how the financial sector dominates both major parties.
PRO-PROBIE PUSH. Steve Cassidy, president of the Uniformed Firefighters Association of Greater New York, says his union's push to improve disability benefits for newer members is unrelated to talks toward an overdue contract settlement with the city. He said it's prompted by a recent resumption of FDNY hiring stalled by years of litigation over diversity.
Hundreds are now joining the FDNY's ranks with the prospect of collecting, if seriously injured, only $27 a day from the city above Social Security disability money, he said -- a situation also potentially affecting police rookies. Benefits for new hires were first pared in 2009 when Paterson vetoed a previously routine bill giving them the better benefit senior members get.
"You can't have separate disability compensation for firefighters running into the same burning building," Cassidy said.
Dan Janison is a member of the Newsday editorial board.
