Bankers Relieved At Tea Party Failures
Industry sources said the establishment wins improve Republican odds of retaking the Senate, which would in turn lead to a friendlier climate for the long-beleaguered sector. But some note that the Tea Party has left a mark on the Republican Party, presenting a challenging landscape for the industry.
The Tea Party movement can trace its roots back to fury about bailouts and banks, but the force that pulled the Republican Party right in recent years is finding less success at the polls recently.
In Idaho, Rep. Mike Simpson (R-Idaho) was repeatedly blasted by outside groups for his 2008 vote in favor of the Wall Street rescue, but he soundly defeated his conservative challenger all the same.
Voters in Georgia, Oregon and Pennsylvania also opted for more mainstream candidates as opposed to conservative upstarts. And in Kentucky, Senate Minority Leader Mitch McConnell (R-Ky.) trounced his primary challenger, Matt Bevin, who made McConnell’s vote in favor of the bailout a central plank of his campaign.
Banks are firmly in the Republican camp. There is no movement toward supporting Democrats.
But financial-sector pleasure at conservative defeats should not be mistaken for a sign that banks are warming to Democrats. To the contrary, the biggest boon for banks from the primary results is the improved odds that the GOP can take control of the Senate.
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4 responses to Bankers Relieved At Tea Party Failures
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Jonathan May 25th, 2014 at 16:42
Too bad the banksters aren’t celebrating these tea-party defeats from inside a prison.
Jonathan May 25th, 2014 at 16:42
Too bad the banksters aren’t celebrating these tea-party defeats from inside a prison.
JKess June 10th, 2014 at 04:34
What amuses me is the bankers think the “mainstream” GOP is any less looney toons then the teabaggers.
To quote: The Tea Party movement can trace its roots back to fury about bailouts and banks,
The tea party movement then promptly sold their souls to the devil and their bodies to the 1% like good little whores. If the banks demanded bailouts today the tea party would be all for it unless Obama later supported it and in that case they’d blacktrack so fast their little heads would spin.
JKess June 10th, 2014 at 04:34
What amuses me is the bankers think the “mainstream” GOP is any less looney toons then the teabaggers.
To quote: The Tea Party movement can trace its roots back to fury about bailouts and banks,
The tea party movement then promptly sold their souls to the devil and their bodies to the 1% like good little whores. If the banks demanded bailouts today the tea party would be all for it unless Obama later supported it and in that case they’d blacktrack so fast their little heads would spin.