Posted on 01/18/2021 8:56:03 PM PST by Helicondelta
Wall Street may be facing an uncomfortable four years after President-elect Joe Biden’s team confirmed on Monday it planned to nominate two consumer champions to lead top financial agencies, signaling a tougher stance on the industry than many had anticipated.
With Republicans appearing to have a good chance to maintain control of the Senate following the Nov. 3 election, financial executives had hoped Biden would pursue more moderate picks. But Democratic victories in two Georgia run-off elections earlier this month mean Democrats will have effective control of the chamber once Biden and Vice President-elect Kamala Harris are sworn in on Wednesday.
Those wins also mean anti-Wall Street firebrand Sherrod Brown will lead the powerful Senate Banking Committee. He has said he plans to try to repeal Wall Street-friendly rules introduced by President Donald Trump’s regulators.
On Monday, Brown hailed Chopra as a “bold” choice who would ensure the CFPB “plays a leading role in combating racial inequities in our financial system,” while Gensler would “hold bad actors accountable” and put “working families first.”
Gensler is expected to pursue new corporate disclosures on climate change related-risks, political spending, and the composition and treatment of company workforces, and to complete post-crisis executive compensation curbs, among other rules.
(Excerpt) Read more at reuters.com ...
The voted for it...live with your decisions and your love of the SALT tax deduction
I hope somebody begins to realize what a terrible idea it was to hand over the American economy to a man that is not all there. Maybe Hunter could fill in, now and then?
Did they think he was an HONEST politician who would stay bought?
How long will it take for the American people to realize that Biden is simply the demented, corrupt figurehead for the radical Left. Biden has no idea what is in the executive orders he is about to sign, just who is being appointed or what his controllers are doing. Try to imagine Biden having any sort of one on one conversation with a foreign leader. Eventually power squabbles will break out within the Left and it would be entertaining if it were not so pathetic and tragic for America. Sadly real people will be hurt and have no idea what is about to befall them.
I hope that Wall Street gets in spades everything that it agitated for, the leftist bastards.
The good Lord works in mysterious ways I PRAY he bestows on ALL of these bastards everything they deserve and everyone who has treated Trump with absolutely disgusting behavior and lies!!! May they ALL get their just rewards!!
Unfortunately, Wall Street will do just fine.
They control the key players in the Democratic Party.
The Democrats love to talk about attacking Wall Street, but at the end of the day they end up secretly shoveling money there.
Wall Street attorneys will be in the room when the hyper-complex tax changes are made.
They will be in the room when the incomprehensible changes in regulations are drafted.
Don’t get fooled by the Democratic con artists.
To paraphrase Indiana Jones and the Last Crusade: “They chose poorly.”
BlackRock has their finger in the pie...not to worry.
[Unfortunately, Wall Street will do just fine.
They control the key players in the Democratic Party.
The Democrats love to talk about attacking Wall Street, but at the end of the day they end up secretly shoveling money there.]
For the past 20 years, the Dems have only had the White House, House and Senate at the same time for 2 years - Obama’s first two years in office. Obama spent that political capital on Obamacare, after which he lost both House and Senate in the mid-terms. Now that Biden has the same setup as Obama, albeit with razor thin majorities in Congress, he will try to ram through all the things Obama failed to do. If he succeeds, Wall Street will come back to the GOP on bended knee.
That’s the thing about the GOP’s success in cutting tax rates or doing anything for its constituencies. People who benefited from GOP policies start to take the GOP for granted, and wander across the aisle, because Pedo Joe’s such a nice guy compared to Trumphitler. Until the Democrats raise those taxes again - then they come scurrying back to the GOP. No good deed goes unpunished.
Correct. Shipping more manufacturing jobs to china is good deal for big corporations.
And china will demand all Trump’s tariffs be abolished.
Wall Street might be liberal but I doubt they are fans of the radical left such as AOC and the Green New Deal.
Wall St gives 90% of their donations to the Commies.
My bet is that you would plan on asking more because you anticipate inflation.
The same could be said for companies selling stock. A company should ask more for their stock if they anticipate inflation.
A Biden presidency may see an upward surge in the stock market as expressed in dollars. However I would bet that it will decrease dramatically when expressed in gallons of gasoline.
Yep. They’re idiots over at the Wall Street. Soon they will find out.
$15 per hour would be equal to $7.50. Paying gas $4.00 would be worth $1.75. Like you said, inflation.
You bought and paid for this wall street. You were in such a frenzy to destroy Orange Man Bad, you didn’t think of the consequences. Well now, eat it.
They voted for it and contributed boat loads of cash to convince many others to do so.
They didn’t expect this? I could have told them this...a little plebe sitting here in the heartland. How did these “geniuses” and “experts” not figure it out?
The vast majority of Wall Street and tech giants money went to the rats. You think they don’t have a plan? They’re gonna choke the life out of small businesses, drain the cash from the middle class, and create a corporate, military industrial complex.
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