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 Chamber of Commerce won't be thrilled?
Id like to have the depends franchise outside
chamber of commerce gathering
The US Chamber of Commerce is one of the largest supporters of importing cheap foreign labor. They have money to buy politicians, and that really messes things up.
Local Chambers of Commerce are not like that.
Local Chambers of Commerce are not the same as the US Chamber of Commerce.
The butt hurt is so strong on that one that he's going to have to buy Preperation-H in a 55 gallon drum.
Lovin' it!
Yes, nothing to do with local chambers.
A local chamber can, like a business, become a member of the US Chamber though. I hope that few if any do.
The US chamber does NOT have the best interests of small business or most Americans in mind.
Look at how the Chamber of Commerce and the Democratic Party are aligned.
The Chamber wants unlimited cheap imported labor, while the Democrats want unlimited imported voters.
Levin and Shapiro almost reflexively have taken Vance to task about his views on Wall Street, which adds a Jew-versus-you complexion to it. That’s unfortunate, because one can be opposed to actions of large financial institutions and not be antisemitic.
J.D. Vance isn’t your grandfather’s Republican. But maybe he’s your great grandfather’s Republican.
Pre-1952, the Republicans were split between eastern Republicans like Thomas E. Dewey of New York, and western Republicans like Robert A. Taft of Ohio.
Dewey was urban and urbane. A dapper fellow. He was a moderate conservative. Taft was a conservative of the “Old Right.” The “Old Right” was America First during the run-up to World War II (it shifted along with the country as Germany first invaded Poland and then France, and especially when Japan attacked us).
Both wings of the Republican Party advocated a strong economy as the best remedy to poverty and racial disparity. We believe in work, not welfare, and we look at Social Security and Medicare not as entitlements but as earned benefits.
Both wings of the Republican Party advocated a policy of peace through strength. (However, for a time, the neocons took over the party for a time, with their naive idea that we could easily make countries into democracies.)
For a long time, we Republicans thought a “balanced ticket” combined a Presidential candidate from one of the two wings with a Vice Presidential candidate from the other.
For example: McKinley (Ohio) and T. Roosevelt (New York); Harding (Ohio) and Coolidge (Massachusetts); you could even include Reagan (Illinois via California) and G.H.W. Bush (Connecticut via Texas).
This current ticket could be said to indicate a kind of end to the east-west dichotomy within the Republican Party in that both Trump (New York via Florida) and Vance (Ohio) share similar approaches to many issues.
Yes there’s change, but there’s also continuity.
many areas of government have been allowed to be thier own entity and use thier power unrestricted and un answerable to anyone accept the regime in charge that gave them this power Power corrupts and absolute power corrupts absolutely
Deeply appreciate your lesson on Ohio/NY politics. It’s an area in which I’m quite interested but haven’t read that excellent summary anywhere. Great grandfather was appointed Attorney General for the So District of NY by Taft and then Roosevelt, and started the Ohio Society of New York. Fascinating to get that perspective on the period. Thank you.
Although Vance emphasizes his hardscrabble upbringing in Middletown, Ohio, he began his career in venture capital after graduating from Yale Law School. His focus on technology startup firms gave him experience in private securities.The person who said this (Michael Canning, principal at The LXR Group, a public policy firm specializing in financial services) doesn't seem to understand that venture capitalists don't get paid until the companies they fund either go public or get bought (usually by public companies).“I would assess him as a Silicon Valley guy who’s more comfortable with private markets than public markets,” Canning said. “That’s the landscape Vance knows very well and is very enthusiastic about.”
The guys in the venture capital business are extremely aware of the importance of the public markets.
Second, Vance isn't going to be president, Trump is...and Trump understands that, with some exceptions, what is good for business is good for labor. Trump understands that the minimum wage, for example, is good for no one but the Democrats buying votes for specious reasons.
Was Robert A. Taft III the last of the Taft “dynasty”? Dynasties are so fleeting in this country.
One day a peacock. The next day a feather duster.
The Republicans need to phase out the term GOP. Give it something new and meaningful. The Grand Old Party is dead. Long live the MAGA Party.
Rooster, you are right that Vance isn’t the Presidential candidate. Given that fact, I found his acceptance speech to be fine. Within the limits a Vice President must respect, his speech was interesting. In contrast, Kamala Harris comes across like an idiot.
Thomas Donohue, head of the National CofC, and that organization itself were part of the national group that secretly worked against Trump and in favor of Biden in 2020 - read about it in Time Magazine. They are NO friends of ours. Google online Time Magazine The Secret History of the Shadow Campaign that Saved the 2020 Election published in February 2021. Donohue and the national Chamber were up to the gills with farleft groups to defeat Trump and they were at the forefront in screaming about J6 while ignoring the deaths of Trump supporters, thousands charged for milling around the Capitol, and suicides of those who were persecuted. No, this organization is no damned good.
JP Morgan Jerome Powell as treasury… um, then they would be not anti Wall Street, or more accurately anti bail out banking.
Regardless.. the government planned parenthood chemical abortion support is a walk away from national GOP.
People are willing to support chemical abortion because their grocery bill is too high must remember… you will not stand before any republican in judgement. You will stand before almighty God and give an account.
#WalkawayChurch
” In contrast, Kamala Harris comes across like an idiot.”
There’s sufficient physical data to support that claim.
Big business can spit in normal Americans’ faces only so many times before we spit back. Corporate raiders are rotten leftists to the core on so many issues, including the climate scam, CRT, DEI, gun control, illegal aliens, “pride” month, “reparations,” etc. Wall Street wants this country in the Ukraine war. Don’t forget how the robber barons tried to force muzzles and vaccines on us. The banksters been sending jobs overseas and making China a superpower for decades now. The elites would *kill* President Trump if they could. We owe them *nothing,* and should *do* nothing to help of protect them!
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