dagblog - Comments for "Wall Street Should Be Terrified?"

The only thing I got out of

CVille Dem — Tue, 17 Jun 2014 01:07:25 +0000

In reply to ICYMI, this link I posted to

The only thing I got out of the excerpt from the article is that bankers seem to think things will be different and are unsure if they may be somewhat better off without Cantor. This is the only quote that even mentioned him:

In the short term, Cantor's loss likely gives Hensarling and Neugebauer, R-Texas, a crucial leg up in negotiations over the reauthorization of the Terrorism Risk Insurance Act, which expires at the end of the year. Conservatives charge that the private sector should bear more of the costs in the event of an attack, and some even question whether the government should provide a backstop for terrorism insurance at all.

Analysts predicted that Congress will ultimately extend the program by yearend, but House Republicans may be able to drive a slightly harder bargain with the Senate absent concerns that Cantor will cut them out of the dealmaking process, as happened over the flood insurance negotiations earlier this year.

They seem from what I read, to feel pretty OK with all this; just a lot of naval gazing imho

Hope all you want. This guy

CVille Dem — Tue, 17 Jun 2014 00:11:24 +0000

In reply to No, youi're being an ass.

Hope all you want. This guy is against everything that helps people. I don't know about the "progressive Blogosphere" but from where I sit in Charlottesville Virginia, I am just glad that this guy is going to be very low in seniority in Congress.

Oh, would that it were so.

CVille Dem — Tue, 17 Jun 2014 00:02:17 +0000

In reply to There's a (very small) bit of

Oh, would that it were so. This guy is against ANY minimum wage. He is against the ACA, he is a typical Rand Paul libertarian, and he is a disaster for his district, but probably it's best that Cantor got what he deserved. With any luck Brat will lose (unlikely) but if people vote for Brat, then they also get what they deserve.

Absolutely right with a

Michael Wolraich — Mon, 16 Jun 2014 21:25:11 +0000

In reply to Wall Street Should Be Terrified?

Absolutely right with a caveat. Pro-market capitalists have co-opted all the national Tea Party organizations, and Wall Street is hardly in any danger from the right. That said, some Tea Party activists do have anti-Wall Street sympathies. Cantor is a casualty of such populist leanings, which could conceivably fester in the future.

By "having fun", I meant that

Verified Atheist — Mon, 16 Jun 2014 19:39:31 +0000

In reply to No, youi're being an ass.

By "having fun", I meant that I wasn't being serious. It sounds like you're taking my lark seriously. I apologize for not being more clear. I had no intent to upset you.

No, youi're being an ass.

EmmaZahn — Mon, 16 Jun 2014 19:33:30 +0000

In reply to Aha, but it just so happened

No, youi're being an ass. There are other articles I can get to but only with considerable effort. Why bother when I can just wait a while for the posts to show up in more accessible places.

It is amazing (and sort of sickening) how eager the 'progressive' blogosphere was to pigeon-hole Brat as quickly as possible, even more so than Wall Street. Talk about terrifying.

Like Trope, I see positives in Brat's toppling of Cantor despite reservations about his very libertarian sounding inclinations.

There's a (very small) bit of

Verified Atheist — Mon, 16 Jun 2014 18:17:05 +0000

In reply to the worrisome possibility of

There's a (very small) bit of optimist in me who hopes that Brat is actually more liberal than people are reading him out to be. He's already said that he doesn't think that government should legislate against gay marriages (of course, this goes along with him wanting a smaller government, but at least he doesn't apply it inconsistently there).

Aha, but it just so happened

Verified Atheist — Mon, 16 Jun 2014 18:15:00 +0000

In reply to The flaw in your theory in

Aha, but it just so happened to be an article that you could link to! (I am having fun here.)

When I said "subvert" Brat, I didn't mean to harm his chances of getting elected, but rather to turn him, to make him one of theirs. That's what I doubt will be very difficult. (You're absolutely right however about the money being a reliable indicator of true support from Wall Street.)

the worrisome possibility of

Elusive Trope — Mon, 16 Jun 2014 17:45:38 +0000

In reply to The flaw in your theory in

the worrisome possibility of their pet party is getting out of their control.

One of the interesting facets of the results of this particular primary race was that Cantor's loss was due in part to his district being reconfigured to include more rural areas, and that it was these folks in part that turned to the person who wasn't flying around being a party leader and not coming home to the district to listen to them.

Money can buy one a lot of control in politics, but it can't ultimately buy people's votes - that is what is so worrisome to them I think. Regardless of his stance on the issues, the fact that a number of people voted for him rather than Cantor the incumbent and all his cash (which even in these topsy turvy days remains around 80% re-elected) does give one a little hope that a healthy representative democracy, or at least people's desire to be truly represented by someone who reflects their views (again, putting aside that one's opinion of those views), is not quite dead in this country.

The flaw in your theory in

EmmaZahn — Mon, 16 Jun 2014 17:34:07 +0000

In reply to The makings of a good

The flaw in your theory in this instance, that the bankers are playing B'rer Rabbit regarding Cantor's ouster, is that that this particular article is bankers talking among themselves. I thought the $2000/yr subscription price gave that away.

As for bankers finding a way to subvert Brat, I doubt they will find anyway to do that until after he is elected as they would view his Democratic opponent as at least equally unsuitable. I did read somewhere else that Cantor's loss was being treated as a wake up call for political donations from Wall Street to 'establishment' candidates. Following the money is a good way to separate real from feigned support and that should be easy enough to confirm soon.

Honestly I would not think they would perceive Brat's election as much of a problem. It was the loss of Cantor as Majority Leader. That's the election they were most interested in. That and the worrisome possibility of their pet party is getting out of their control.