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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsA Development That Should Have Wall Street Terrified
http://www.businessinsider.com/a-development-that-should-have-wall-street-terrified-2014-6Wall Street lost a close friend this week.
As BI's Linette Lopez explained on Wednesday, the defeat of Eric Cantor, to primary opponent Dave Brat, meant that one of Wall Street's most reliable allies within the GOP was gone. And not just gone, but replaced by a candidate who specifically made being anti-Wall Street part of his campaign.
The New Yorker's Ryan Lizza went as far as to describe Dave Brat the Elizabeth Warren of the right. On the trail, Brat lamented the fact that no Wall Street bankers went to jail for the crisis of 2008.
But the story is bigger than just Cantor having close ties to the finance industry.
As Jeremy W. Peters and Shaila Dewan explain in today's NYT, there are fewer and fewer members of the GOP who can be seen as reliable allies for big business. As such, priorities such as the refunding of the national highway trust fund and reauthorization of the Export-Import Bank (which provides loan guarantees to foreign buyers of domestic products, benefiting large firms like Boeing) are in a lot of trouble.
Read more: http://www.businessinsider.com/a-development-that-should-have-wall-street-terrified-2014-6#ixzz34nva3Ro6
safeinOhio
(32,674 posts)a little Brat flip and then flop?
tularetom
(23,664 posts)has been co-opted by a tea party type republican.
It's just a matter of time until the whole 2008 financial crisis gets blamed on Obama.
Don't think that's possible? It's happening with Iraq. Right now.
SleeplessinSoCal
(9,112 posts)The drain on the economy that is and was Iraq is back.
yurbud
(39,405 posts)Democrats call the GOP crazy extremists during campaigns, then once Dems get elected, they try to enact as much Republic foreign, trade, budget, and tax policy as possible.
It's kind of like we have a choice between a mafia don and a cop, but the cop is Vick Mackey from THE SHIELD, who is a cop AND a criminal mastermind at the same time.
el_bryanto
(11,804 posts)He will care about social issues and quietly drop economic ones - except those that benefit big business - i.e. he will fight regulations and environmental policies, because however much he pretends to hate wall street - he hates government more.
Bryant
HooptieWagon
(17,064 posts)Do you really think he'll quietly drop economics issues? He's not going to be effective, freshman congressmen have little power, but I doubt he'll just ignore them.
el_bryanto
(11,804 posts)Unless he really is crazy, which would be gratifying.
Bryant
randome
(34,845 posts)Couldn't even speak about the minimum wage because he hadn't given it much thought.
[hr][font color="blue"][center]Stop looking for heroes. BE one.[/center][/font][hr]
HooptieWagon
(17,064 posts)He just didn't want it to sink his campaign.
randome
(34,845 posts)That can't help, either.
[hr][font color="blue"][center]You should never stop having childhood dreams.[/center][/font][hr]
HooptieWagon
(17,064 posts)I doubt he expected to win, and hadn't composed a BS evasive answer to the question. He did know if he answered with his true opinion, he'd be toast. He's a political rookie, once he hires some spin-miesters he'll appear a bit more polished. But there'll still be some foot-in-mouth moments I hope Trammel can capitalize on.
ieoeja
(9,748 posts)Because one of these candidates is a publish author who has written several books on economics.
The other is a Republican with an advanced degree from a school of Divinity.
SleeplessinSoCal
(9,112 posts)Heilman and Halpern ignored it completely in a discussion with Charlie Rose. Apparently they couldn't hear my protestations ffrom where I was.
Skittles
(153,160 posts)that tells us more about him than does his education or occupation
eggplant
(3,911 posts)There was another post last week (sorry, can't find the link) that explained that Koch money paid for his professorship (as a named chair), and that the (Koch paid) pundits were all shilling for him.
So my guess would be that he'll do whatever they tell him to do, while he enjoys the good life.
CanonRay
(14,101 posts)He's their lapdog.
Volaris
(10,270 posts)The natural check to people (and businesses) doing whatever the hell they want is more effective government. But they hateses nasty, fat government, don't they, Prescious?.
Whatever are they to do???
It will be fun to see what this Brat guy comes up with. It will be more so when we here figure out how to rip it to shreds on facebook. My bet is it won't take us all that long.
Yeah, I'm in a dick mood tonight =).
Kablooie
(18,632 posts)And I'm sure the Democrats will be delighted to comply.
As long as they can muzzle Elizabeth Warren.
Auggie
(31,167 posts)LuvNewcastle
(16,844 posts)If the teabaggers go anti-Wall Street, then the Turd Way will be Wall Street's best friend. Hillary and Company will be so awash in Wall Street money funneled through PACs that their message will dominate. This is shaping up to be a nightmare scenario for Progressives. Will they stick with a corrupt party owned by Wall Street or will they abandon the party and go their own way? If Brat's ideas spread through the GOP, will that make them the populist party and the Dems the establishment?
These are strange times; anything could happen. I think we can all sense right now that populism will sell to the electorate in this year's election and in 2016. Will the GOP turn things around and become the 'party of the people?' This is the kind of thing that happens with only two parties. The people running the show can constantly play one side against the other in order to assure that their objectives are met. This would be harder to achieve if we had more parties; the process would be much more complex and the variables would be much greater. But it's easily done when you only have two sides and those sides are more similar than they are different. Guess who wins again?
1000words
(7,051 posts)AtheistCrusader
(33,982 posts)It's not like we've done anything to stop them from doing so.