Banking Law

As long-time readers understand, the principal author of this blog has had an unhealthy obsession with a passing interest in Diana Taylor, former New York Banking Superintendent and current paramour of New York City Mayor Michael Bloomberg. It's been over a year since we last basked in the glow of the light she was trying to keep under a bushel basket so as not to steal the glory from her wanna-be fashion plate boyfriend. After being gunned down by the NRA (over Bloomberg's anti-handgun positions) for the Chairmanship of the FDIC (which then went to second-choice anti-banker, Sheila Bair) and later leaving the New York Superintendent's job after Eliot Mess was elected governor of The Empire State, we thought she might just have permanently retired from public service. Much to our delight, we were wrong.

According to The New York Times, she seriously considered running this year for Senator from New York, before deciding the time is not quite right. However, according to informed sources, the time will be right at some point.

Her actions suggest that as Mr. Bloomberg enters the twilight of his mayoralty, the heir to his political legacy may be the woman he has dated for a decade. ?If she wants it, she has a political future,? said John J. Faso, the Republican candidate for governor in 2006.

"Dated." I just love that euphemism, don't you?

Republican lawmakers, consultants and operatives continue to describe Ms. Taylor ? a former investment banker and state banking regulator ? as a ?perfect candidate,? a ?grand-slam home run? and a ?shoo-in? for offices ranging from governor to mayor of New York.

Their enthusiasm, as overheated as it may seem, can be traced to her eclectic résumé and a personal warmth that seems to stand out all the more against Mr. Bloomberg?s sometimes chilly demeanor.

Well, there's nothing like a billion dollars or so to warm you up to the chilliest demeanor, eh?

The Times' article is quite favorable, which might be considered unusual if you thought Ms. Taylor was a Republican in the mold of Mitch McConnell, which she definitely is not. She'd probably be accused by die-hard conservatives as being much more a RINO than a "traditional" Republican.

A registered Republican, Ms. Taylor embraces a philosophy that closely mirrors that of the mayor. She is socially progressive and fiscally conservative. She is fond of invoking Abraham Lincoln on the role of government (which she has paraphrased as ?to do for those who cannot do so well for themselves?), and she is infuriated by those who complain about Washington but do not have the stomach to become involved in public life.

Bloomberg has vowed to retire in three years. If he sticks to that timetable, in the near future we may see someone in the Senate who actually understands banking and doesn't hate banks. Wouldn't that be refreshing?