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 ...
He’s “friends” with Peter Thiel; he worked in finance. I hope I’m wrong, but I don’t trust Vance.
I spent 40 years in the wholesale hardware distribution business with 2 family owned private companies.
At one point I traveled 11 states, planning stores.
Small businessmen are not who funds the US Chamber of Commerce. That is why NFIB exists.
That’s very interesting.
Thanks.
L
THERE IS NO HOUSING PROBLEM.
THERE IS A SERIOUS PROBLEM WITH MILLIONS OF INVADERS FROM ALL COUNTRIES OF THE WORLD.
THEY WANT HANDOUTS-—INCLUDING HOUSING.
CLEAN OUT THE REFUSE & THE HOUSING ISSUES DISAPPEAR.
IF I suddenly have 30,000 INVADERS in my town, there will be an instant housing PROBLEM-—AND with food & medical issues.
A NEW CARAVAN is forming up at Mexico/Guatamala border heading north.
IN ALL THE PICS OF THOSE PRIOR CARAVANS-—IT IS ALL MEN—MILITARY AGED MEN.
Do NOT TRY TO TELL ME THEY CAN DO “JOBS” HERE.
THEY DO NOT SPEAK ENGLISH
THEY DO NOT READ ENGLISH
THEY DO NOT WRITE ENGLISH
THEY DO NOT KNOW HOW TO MAKE CHANGE WITH AMERICAN MONEY
EXACTLY -—PLEASE BE VERY PRECISE—WHAT JOBS DO YOU THINK WE SHOULD PROVIDE FOR THEM???????
THEY SHOULD NOT HAVE DRIVER’S LICENSES-—
TAKE A LOOK AT THE UNINSURED DRIVER PORTION OF YOUR AUTO POLICIES-—HUGE INCREASES.
>>One day a peacock. The next day a feather duster.
Brilliant. Hope you’re a teacher somewhere.
No idea about Taft III’s kids. Even his genealogy node keeps the kids private.
I would have to be a fool to believe this.
You are correct about that.
“and Trump understands that, with some exceptions, what is good for business is good for labor.”
That gas badly gone askew. Open borders are good for business. Relocating all production to outside America is good for business. Big pharma mandates, legal TV advertising are good for business. The list goes on….
Wall Street and bankers stopped being American. JD is in the right mindset.
Same for relocating all production to outside America...unless perhaps all customers are also relocated outside of America.
The flipside of that logic is the minimum wage. It looks great for workers until they notice that they no longer have jobs because businesses can't afford them and have either moved or gone out of business.
What a lot of big companies don't understand is that workers and the employers are in a kind of socio-economic contract--a symbiotic relationship. They need each other.
As an aside, the government's intervention into this situation rarely works out well. The reason: Government is almost always incompetent and venal.
Thats was a great deal .
Round these parts almost every “small” business has its cadre of central American stoop labor in tow.
I Never worked for a company who did.
I spent almost 40 years with 2 companies. Privately held. They liked good employees.
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