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Vance says Republicans are done ‘catering to Wall Street,’ puts financial policy in context of social issues
Roll Call ^ | July 20 | By Mark Schoeff Jr.

Posted on 07/20/2024 12:55:36 AM PDT by RandFan

It’s not often a Republican member of the Senate Banking Committee attacks the home of the financial services industry. Sen. JD Vance did so Wednesday night at the Republican National Convention as he accepted his party’s nomination for vice president.

“President Trump’s vision is so simple and yet so powerful,” Vance, R-Ohio, said to the GOP delegates and faithful at the Fiserv Forum in Milwaukee. “We’re done, ladies and gentlemen, catering to Wall Street. We’ll commit to the working man.”

Vance also placed part of the blame for the rising cost of housing on large financial institutions.

“Wall Street barons crashed the economy and American builders went out of business,” Vance said.

It’s not just Vance’s rhetoric that comes in a different key from the traditional, mostly supportive Republican posture toward financial firms, as he has teamed with Democrats on some bills in the year-and-a-half he has been in the Senate. He backed a bill by Sen. Elizabeth Warren, D-Mass., that would require federal regulators to claw back up to three years of compensation earned by executives, board members, controlling shareholders and other officials at failed banks.

Vance also is a co-sponsor of legislation by Sen. Richard J. Durbin, D-Ill., that would prevent large credit card issuers from restricting access to electronic payment networks by smaller issuers.

Vance has expressed skepticism about big mergers and acquisitions through legislation he has co-sponsored, including a bill by Sen. Sheldon Whitehouse, D-R.I., that would eliminate tax deferrals for shareholders who receive stock in mergers of corporations with gross annual receipts of more than $500 million.

“JD Vance is not your father’s or grandfather’s Republican,” said Milan Dalal, managing partner at Tiger Hill Partners

(Excerpt) Read more at rollcall.com ...


TOPICS: Front Page News; Government; Miscellaneous; News/Current Events; Politics/Elections
KEYWORDS: vance
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To: RandFan

The most effective way to support “the working man” is to set him free and protect his God given rights like a junkyard dog.

Let the Constitution be your guide and final arbiter. The and only then can we truly be the land of the free; home of the brave once again.

Everything else will fall into place.


21 posted on 07/20/2024 4:17:34 AM PDT by Thorium90
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To: Big Brother Go to Hell; RandFan; Redmen4ever; RoosterRedux

I still prefer Elise Stefanik as the VP. She’s got two Ivy League scalps and has blood dripping from her mouth.

Vance seems ok, and as was said elsewhere people don’t buy a car based on the quality of the spare tire. He’s not exciting, nor a problem. He should be ok.

But if he’s worked on regulatory legislation with Warren, Brown, and Durbin - who are enemies of capitalism - then he is a leftist on such matters. If Trump makes it back to the WH this guy should be walled off from that wing of the Administration.

The populist anti-“Wall Street” rhetoric coming from a former VC guy with a Yale degree is comical. Opportunist is more like it. Blah blah blah. What next, will he join an Occupy encampment to show how down he is with the working man?

Again, Trump could have done better but he also could have done worse. Vance is an ok battery backup. Just keep him away from anything related to economic policy until he reads “Free to Choose” by Milton Friedman.


22 posted on 07/20/2024 4:18:43 AM PDT by DoodleBob (Gravity's waiting period is about 9.8 m/s)
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To: DoodleBob
I still prefer Elise Stefanik as the VP.

She was my pick of the litter, but it is what it is.

23 posted on 07/20/2024 4:26:51 AM PDT by RoosterRedux (It's funny that the harder I work, the luckier I get.)
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To: RandFan

Big business chose to fraternize with socialism and supports radical democrats. IOWs we are slouching towards fascism - literally. It was the deal between Bush business and the democrats so he could invade Iraq. It’s ruined the country and the world. JD Vance sees the world just fine.


24 posted on 07/20/2024 4:33:05 AM PDT by AndyJackson
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To: RandFan

Consider the source...


25 posted on 07/20/2024 4:35:45 AM PDT by mewzilla (Never give up; never surrender!)
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To: RandFan

I think his message was, “Like President Trump, I can’t be bought”...


26 posted on 07/20/2024 4:45:49 AM PDT by trebb (So many fools - so little time...)
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To: Texas Fossil

My local Chamber is owned by the nightmare developers destroying everything in its path .
The Chamber of Crony Capitalism is the enemy .


27 posted on 07/20/2024 4:47:26 AM PDT by ncalburt ( Gop DC Globalists are the evil )
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To: RandFan

Roll Call is a Dem front group rag .


28 posted on 07/20/2024 4:49:13 AM PDT by ncalburt ( Gop DC Globalists are the evil )
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To: Texas Fossil
Local Chambers of Commerce are not the same as the US Chamber of Commerce.

This needs to be shouted from the rooftops. I am on the board of our local chamber. We are not affiliated with the US Chamber of Commerce. Our chamber, unlike most others, is growing. We are a mix of larger and small businesses, working together, to promote business and make our community a better place.

29 posted on 07/20/2024 4:53:38 AM PDT by Crusher138 ("Then conquer we must, for our cause it is just")
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To: RandFan

Fascinating. Does anyone like JD’s economics? It’s kind of more populist than big business friendly.

______________________________________________________

Is used to not like it until I studied economics in depth. The reality is that economics is never separated from politics. It also has (as a matter of practical application) several fundamental principles which are sometimes at odds with one another and must be balanced (such as a desire fore growth and efficiency verses a desire for stability and equity). The corporate class took conservative allegiance for granted and began to abuse us. Hell, they even jettisoned us for Woke culture within the last couple of decades. Corporate leaders, shareholders, lobbyists, and their bought-and-paid-for politicians deserve the political earthquake they’ve caused.


30 posted on 07/20/2024 5:20:16 AM PDT by Bishop_Malachi (Liberal Socialism - A philosophy which advocates spreading a low standard of living equally.)
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To: RandFan

The GOP has been making concessions to Liberals and everyone ELSE for too long!

Enough with that!


31 posted on 07/20/2024 5:26:45 AM PDT by SMARTY (In politics, stupidity is not a handicap. Napoleon Bonaparte I)
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To: AndyJackson

Agree.


32 posted on 07/20/2024 5:28:35 AM PDT by Lumper20
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To: RoosterRedux

“Trump understands that the minimum wage, for example, is good for no one but the Democrats buying votes for specious reasons.”

The people getting “affordable housing” can work for less than those not getting it.

To prevent bottom fishing by employers, a legal minimum wage, with exceptions for say unincorporated businesses and people out of work for over a state set amount, is necessary.

It takes about an hour to fill out an employment application, and 10 seconds for an employer to toss it aside because the applicant had the temerity to ask for $5/hour.

People getting minimum wage level amounts generally aren’t investing it. An extra dollar per hour normally gets quickly fed back to business.


33 posted on 07/20/2024 5:41:47 AM PDT by Brian Griffin (*** Help Trump, fund Republican candidates: https://ballotpedia.org/U.S._House_battlegrounds,_2024)
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To: Bishop_Malachi

“The reality is that economics is never separated from politics.”

I remember getting a course catalog when applying for college. Courses were listed for a Department of Political Economy.


34 posted on 07/20/2024 5:44:44 AM PDT by Brian Griffin (*** Help Trump, fund Republican candidates: https://ballotpedia.org/U.S._House_battlegrounds,_2024)
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To: RandFan

With Jamie Dimon as their Sec. of Treasury?!?


35 posted on 07/20/2024 5:45:30 AM PDT by 9YearLurker
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To: 9YearLurker

“Jamie Dimon as their Sec. of Treasury?!?”

No person in the executive branch should be given so much power by Congress that he/she can be a threat to American well-being.


36 posted on 07/20/2024 6:00:37 AM PDT by Brian Griffin (*** Help Trump, fund Republican candidates: https://ballotpedia.org/U.S._House_battlegrounds,_2024)
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To: RandFan

I think it’s reasonable. We used to have hundreds of banks. Local banks that knew their customers, who took chances based on the communities involved. Back in the 80’s I worked up in Canada and they had 4 banks and customer service sucked. When I came home I realized how important those local banks are to growth and economic stability. I watched in horror during the 2008+ years as small banks we buried under so many regulations most were forced out of business or devoured by the big banks.

Long story short, yeah, I do agree with him. We need those local banks who take a chance on builders and small construction companies. Let’s see what happens. Maybe the great entrepreneurial spirit can be nourished back to life.


37 posted on 07/20/2024 6:02:13 AM PDT by McGavin999 ( A sense of humor is a sign of intelligence, leftists have no sense of humor, therefore…)
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To: ncalburt

“nightmare developers destroying everything in its path”

I live in Florida too.

There is a reason for zoning. Within 200-500 feet of the highway, anything non-toxic goes. Beyond those feet, neighborhoods of houses are protected.

As for rural areas, twenty people might be able to live on land that could only support one cow. Any land that is not owned by government or filled with houses can change.


38 posted on 07/20/2024 6:13:10 AM PDT by Brian Griffin (*** Help Trump, fund Republican candidates: https://ballotpedia.org/U.S._House_battlegrounds,_2024)
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To: Brian Griffin

Let me know when you touch base with reality again!


39 posted on 07/20/2024 6:15:57 AM PDT by 9YearLurker
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To: Brian Griffin
Fl is finished .
It is rapidly becoming S Calif .
A Traffic nightmare and no open spaces .
Old Zoning laws are wiped out by
Bought local politicians .
Sarasota county had strict lots size laws about building houses
east of 75 to avoid grid lock .
Bought Developer hacks killed those laws .
Its now a traffic jam 24 -7 like S Calif .
Crooked GOP Developers got elected to state offices and ruined the place .
40 posted on 07/20/2024 6:23:37 AM PDT by ncalburt ( Gop DC Globalists are the evil )
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