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Lisa Madigan
Quick Hit
by Josh Kalven
3:40pm
Mon Apr 12, 2010

L-MAD To SCOTUS?

It's a long shot, sure.  But there's been some chatter in the past week that the White House might consider Illinois Attorney General Lisa Madigan as a replacement for John Paul Stevens on the U.S. Supreme Court.  As a guest on Bill Cameron's WLS Radio show yesterday, Ray Long of the Tribune and Greg Hinz of Crain's discussed the possibility (H/T Eric Zorn):

Hinz and Long went on to agree that, if Obama ultimately nominates a Chicagoan, federal judge Diane Wood is a much more likely choice.  (You can listen to the full segment here.)

Still, the Madigan idea is still fun to contemplate. When declining to run for U.S. Senate last year, she cited a desire to stay close to her young family.  Yet somehow I think the family would be moving to D.C. if this opportunity came her way.

Quick Hit
by Angela Caputo
3:04pm
Mon Mar 1, 2010

Lisa Madigan Rips Consumer Protection Bill

U.S. Senate Banking Committee Chairman Chris Dodd (D-CT) has finally put an end to the waiting game over the proposed Consumer Financial Protection Agency (CFPA). Late last week, he released a draft bill (PDF) outlining how the watchdog agency would take shape. Unfortunately, the banking-friendly "compromise" brokered in the House by Illinois' own Melissa Bean will stand. And consumer advocates like Illinois Attorney General Lisa Madigan aren't pleased with the outcome: “State enforcement is critical to helping rein in the banks’ abusive practices that have led to today’s economic crisis,” she said in a statement today. "We must be allowed to continue investigating abusive practices by lenders who are doing business within our borders.”

Consumer advocates' other major gripe with Dodd's bill is that it would scrap the stand-alone CFPA all together and instead create a different agency -- the Bureau of Financial Protection (BFP) -- in the Treasury Department.  Read the Huffington Post's Ryan Grim for more on the potential problems with this aspect of the plan.

Dodd's committee should vote on the measure this week. Stay tuned.

PI Original
by Angela Caputo
6:05pm
Wed Feb 10, 2010

The Local Push For Financial Reform Continues

By month's end, the Senate is expected to begin marking up a proposal to create a Consumer Financial Protection Agency. In response, Illinois Attorney General Lisa Madigan and fellow consumer advocates are sharpening their message on why financial oversight is needed.