Posted on 06/15/2014 10:32:22 AM PDT by PoloSec
Wall 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, Bratt 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.
(Excerpt) Read more at businessinsider.com ...
Eric Cantor had a friendly (corrupt) relationship with Wall Street. Eric Cantor helped get laws passed that were favorable to Wall Street, and Wall Street contributed millions of dollars to Eric Cantor’s reelection campaigns.
Unfortunately, this beautiful friendship had to end when Eric Cantor mistakenly calculated that he would need only $5 million dollars to defeat his relatively unknown primary opponent who had almost no campaign money.
If the City of Detroit wasn’t too big to fail, then neither was Goldman Sachs. If General Motors was able to go bankrupt and restructure itself, then Citigroup could have done the same.
Instead, the Wall Street banks were bailed out with billions of taxpayer dollars, because Congressman Eric Cantor and many of his colleagues wanted to be Congressman-for-life, and they needed millions of campaign dollars from Wall Street to do so.
There is now an opening for a new House Majority Leader and another for a new Congressman in Virginia’s District 7. If those positions are filled by honorable men or women instead of by Eric Cantor clones willing to take kickbacks from Wall Street in exchange for bankrupting America’s taxpayers by sending multi-billion-dollar bailouts to Wall Street year after year, it will be a rare triumph for America.
Biggest problem on Wall Street is that we still have the “Too Big to Fail” (TBtF) problem WITH Wall Street. Big Government Lovers want TBtF Money Center ‘Banks’, they are easy to tax, fine, have lunch with and get a job with later. In spite of $Billions in fines, they still pay their management $Billions in salary and bonuses, each being taxed by local, state and Federal Governments. Senator Chuck Schumer and his echo Sen. Kristen Gillibrand are ultra liberal and for the poor UNTIL you threaten Wall Street, then you better watch out!
Breakup TBtF, make them able to fail without another 2008-9 DISASTER! Not going to happen with this bunch and unlikely with any future unless we have blood in the streets. Sigh!
“the Elizabeth Warren of the right.”
He faked a racial heritage to take advantage of minority set-asides???
Geee, I didn’t think the banksters should have gone to jail, I thought they should have been hanging on lamp posts all the way up and down Wall Street along with their political enablers.
On the trail, Bratt lamented the fact that no Wall Street bankers went to jail for the crisis of 2008.
I’m liking him more everyday, now if he’d include some
democrats...I’d like him even more.
Thank you for providing a factual and intelligent response.
Carrying on about how evil bankers are reminds me of the workers who hate the boss because they feel he just sits around and they have to do all the work.
“where are the street protests from conservatives protesting the tyranical actions of Obama and demanding this dictator’s resignation ?”
Conservatives don’t tend to be involved in street protests. That’s the tool of 3rd world mobs and former 60’s hippies.
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