ABSTRACT
This chapter focuses on the variety of legislative activities associated with agenda setting and policy adoption. It examines the impact of subsystem political variation on the treatment of legislation in the House and Senate between 1919 and 1988. The chapter explores all domestic financial intermediary-related legislation introduced in Congress, as well as any legislation dealing with Federal Reserve monetary policy. It also examines any hearing dealing with such legislation and any hearing dealing with domestic financial intermediaries, whether such hearings are held by the banking committees or in another venue. Congressional committees are the central locus of action in the legislative process. Congress as an institution developed the committee system as a means of dividing policy responsibilities among legislators. Chairs are instrumental in steering legislation through committee, and committee membership appears to be a near requisite for successful sponsorship. The bank-dominant seenario envisions the legislative process as “logrolling.”
