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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsWall Street welcomes expected Chuck Schumer promotion (surprise, surprise)
Wall Street welcomes expected Chuck Schumer promotion
3/27/15
New York (CNN)Chuck Schumer is set to get a big promotion -- and that's welcome news to Wall Street.
The veteran Democratic senator from New York is widely expected to take Senate Minority Leader Harry Reid's job when he retires at the end of 2016. Reid, who announced he would not be running for reelection Friday morning, quickly endorsed his New York colleague for the role.
Schumer's ascension to the top Democratic position in the Senate -- and even possibly to Senate majority leader if his party regains control of the chamber -- is a boon for the finance and business communities, which have worked closely with the New York native and enjoyed his support for decades. It also puts an industry ally in charge of the Democratic caucus as the party's economic populists, including Massachusetts Sen. Elizabeth Warren and Ohio Sen. Sherrod Brown, have grown increasingly vocal.
Former Republican New Hampshire Sen. Judd Gregg, who recently served as the head of the Securities Industry and Financial Markets Association, said Schumer "knows everybody in the financial community, as it's based in New York, on a first-name basis."....
http://www.cnn.com/2015/03/27/politics/chuck-schumer-business-wall-street/
3/27/15
New York (CNN)Chuck Schumer is set to get a big promotion -- and that's welcome news to Wall Street.
The veteran Democratic senator from New York is widely expected to take Senate Minority Leader Harry Reid's job when he retires at the end of 2016. Reid, who announced he would not be running for reelection Friday morning, quickly endorsed his New York colleague for the role.
Schumer's ascension to the top Democratic position in the Senate -- and even possibly to Senate majority leader if his party regains control of the chamber -- is a boon for the finance and business communities, which have worked closely with the New York native and enjoyed his support for decades. It also puts an industry ally in charge of the Democratic caucus as the party's economic populists, including Massachusetts Sen. Elizabeth Warren and Ohio Sen. Sherrod Brown, have grown increasingly vocal.
Former Republican New Hampshire Sen. Judd Gregg, who recently served as the head of the Securities Industry and Financial Markets Association, said Schumer "knows everybody in the financial community, as it's based in New York, on a first-name basis."....
http://www.cnn.com/2015/03/27/politics/chuck-schumer-business-wall-street/
Also (not) surprising is these announcements by Reid came the day Wall Street put out the word they will close the money flow if Dems keep talking about breaking up Big Banks.
Its like "House of Cards" playing out in real life.
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Wall Street welcomes expected Chuck Schumer promotion (surprise, surprise) (Original Post)
RiverLover
Mar 2015
OP
diabeticman
(3,121 posts)1. Money is doing the talking and hey the Dems are listening.
RiverLover
(7,830 posts)2. It certainly seems that way. The leaders anyways.
Things will never change in this country if we keep allowing Moneyed Interests to pull the strings.
Frustrating.
diabeticman
(3,121 posts)3. Exactly!