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 ...
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.
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.
She was my pick of the litter, but it is what it is.
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.
Consider the source...
I think his message was, “Like President Trump, I can’t be bought”...
My local Chamber is owned by the nightmare developers destroying everything in its path .
The Chamber of Crony Capitalism is the enemy .
Roll Call is a Dem front group rag .
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.
Fascinating. Does anyone like JD’s economics? It’s kind of more populist than big business friendly.
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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.
The GOP has been making concessions to Liberals and everyone ELSE for too long!
Enough with that!
Agree.
“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.
“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.
With Jamie Dimon as their Sec. of Treasury?!?
“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.
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.
“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.
Let me know when you touch base with reality again!
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