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Banking Lobby Faces 'Serious Problems' in Washington: Barney Frank

Pawlenty told CNBC in 2011 of Bernanke that "I opposed his appointment last time, so it wouldn't be hard for me to oppose his reappointment next time, and I don't think he should continue in that position."

A spokeswoman for the Financial Services Roundtable responded with the following emailed statement from Pawlenty.

"I wish Congressman Frank well in the next phase of his career.  As a former Governor and legislator, I have a record of effectively working in a bipartisan and constructive manner, and  I am committed to upholding the Roundtable's bipartisan tradition with legislators and regulators as its new leader," the statement read.    

Wells Fargo (WFC - Get Report) Chairman and CEO John Stumpf is Chairman-elect of the Roundtable. A bank spokesman declined to comment. A Federal Reserve spokesman declined to comment.

An email to the press office of The Allstate Corp. (BAC - Get Report) whose CEO, Chairman and President, Tom Wilson, is also Chairman of the Roundtable, wasn't returned.

During the interview Frank also referred to the Troubled Asset Relief Program (TARP), the best-known of various government programs to bail out the financial system following the 2008 mortgage crisis, when asked about as his "toughest moment as a lawmaker."

Frank argues TARP "will go down in history as most highly successful highly unpopular program in American history."

-- Written by Dan Freed in New York.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.
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