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Frontrunner for Clinton VP supports more consistent liquidity reporting frequency!

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T

Team Alucard

Banned
Via Huffpo

WASHINGTON ― Sen. Tim Kaine (D-Va.) is on Hillary Clinton’s short list of potential vice presidential nominees. He’s also actively pushing bank deregulation this week as he campaigns for the job.

Kaine signed two letters on Monday urging federal regulators to go easy on banks ― one to help big banks dodge risk management rules, and another to help small banks avoid consumer protection standards.

Presumptive Democratic presidential nominee Hillary Clinton is believed to be weighing Kaine among a handful of other potential VP choices. Her pick is widely viewed in Washington as a sign of her governing intentions. The former secretary of state has spent weeks attempting to woo progressive supporters of vanquished primary challenger Sen. Bernie Sanders (I-Vt.). Choosing from one of the handful of names on her short list ― Sens. Elizabeth Warren (D-Mass.), Sherrod Brown (D-Ohio) or Jeff Merkley (D-Ore.), for instance ― would signal that her camp is taking progressive concerns seriously.

Kaine, by contrast, is setting himself up as a figure willing to do battle with the progressive wing of the party. He has championed the Trans-Pacific Partnership trade deal that both Sanders and Warren oppose, and he is now publicly siding with bank deregulation advocates at the height of Clinton’s veepstakes.

The big bank letter would help major firms including Capital One, PNC Bank and U.S. Bank, all of which control hundreds of billions of dollars in assets. Such large “regional banks,” Kaine writes, are being discriminated against based solely on the fact that they are so big.

In a letter to Federal Reserve Chair Janet Yellen, Comptroller of the Currency Thomas Curry and FDIC Chair Martin Gruenberg, Kaine argues that it is unfair for these large banks to be required to calculate and report their liquidity ― a critical measure of risk ― on a daily basis. Kaine wants to change that reporting to once a month. Kaine, along with Sens. Mark Warner (D-Va.), Gary Peters (D-Mich.) and Robert Casey (D-Pa.), argues that bigger banks don’t necessarily carry bigger risks, and thus shouldn’t face more aggressive oversight.

As Kaine joins the deregulatory fight, several other lawmakers are pushing the CFPB in the opposite direction. On Wednesday, 28 senators sent a letter to the agency urging them to toughen up their new rule against abusive payday lending. Kaine didn’t sign it.

A spokesperson for Kaine told HuffPost that Kaine is working on his own separate “Virginia-focused” letter on payday lending in support of the CFPB rule that he hopes will come out before the election.
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E-Cat

E-Cat

Member
Paul Ryan aka Lying Douchebag said:
“I think Hillary Clinton is a very liberal progressive. They have moved far, far, far to the left. And so in the 1990s, there was a little more overlap between the two parties and more room for common ground.”
Click to expand...
Really, now???
 
G

Ghost

Chili Con Carnage!
What's the argument for bank deregulation? '2008 was like a million years ago, get over it already!'?
 
H

HStallion

Now what's the next step in your master plan?
I don't really care for Kaine and that was before this. I really hope she doesn't pick this guy.
 
A

Ahasverus

Member
Hillary still finding ways to sabotage herself. Which was going to be the easiest win ever is turning into an uphill battle.
 
T

Torokil

Member
His record with abortion and women's rights are even worse, but that's not as "damaging" with Hillary at the top of the ticket.

I'm so fucking tired of 'New' Democrats. They were necessary after the GOP dominance in the 80s but they can fuck off now.
 
G

God Dayumm

Banned
Pivots! Pivots everywhere!

Next election the democrats will be like the alt-right and you will like it because the other option will be literal Hitler
 
A

Abounder

Banned
Not surprising, after all Dems are still giving Trump the TPP card to play. What happened to political parties that represented the working class...
 
P

PeakPointMatrix

Member
Jeels said:
Yup, mentioned this in the VP thread. Hillary needs to realize the optics of this and bail out.
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I'm gonna be that guy.

What does "optics" mean in the context I'm constantly seeing it in on GAF politics? Where did it originate from, I've never even heard news sources use it in their vocabulary.
 
C

ColdPizza

Banned
PeakPointMatrix said:
I'm gonna be that guy.

What does "optics" mean in the context I'm constantly seeing it in on GAF politics? Where did it originate from, I've never even heard news sources use it in their vocabulary.
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It means it doesn't look good. Hillary has been claiming to be tough on the big banks.
 
H

Hellsing321

Member
Abounder said:
Not surprising, after all Dems are still giving Trump the TPP card to play. What happened to political parties that represented the working class...
Click to expand...
Trump already ruined that talking point when he picked Pence who also supports the TPP. And if we believe Donald Jr. It's going to be Pence whos in charge of domestic and foreign policy lol.
 
J

Josh7289

Member
I'm concerned.

She's still far and away the better choice than Trump but if she picks Kaine in this political climate I think she'd be making a mistake. She may think he's safe but he's probably actually a detriment with positions like this. Her goal should be to win this election and she needs to pick someone who will help her do that. She needs someone who will reach out to the far-left wing of the Democrats or to more independent working-class Americans. Kaine would not be that person.
 
B

Blader

Member
Kaine argues that it is unfair for these large banks to be required to calculate and report their liquidity ― a critical measure of risk ― on a daily basis. Kaine wants to change that reporting to once a month.
Click to expand...

Can Finance-GAF tell me if this is a huge deal or not? This seems to be the crux of his argument for big bank deregulation.
 
A

AuthenticM

Member
Kaine signed two letters on Monday urging federal regulators to go easy on banks ― one to help big banks dodge risk management rules, and another to help small banks avoid consumer protection standards.
Click to expand...

are you fucking kidding me
 
J

Jeels

Member
PeakPointMatrix said:
I'm gonna be that guy.

What does "optics" mean in the context I'm constantly seeing it in on GAF politics? Where did it originate from, I've never even heard news sources use it in their vocabulary.
Click to expand...

Everyone else answered, and in this context, it's the fact that Hillary is equated as too conservative (whether this is true or not), has a Bernie/Warren side of the party that is wary of her (once again, who knows if that matters or not, the anti Trump vote may matter more than a pro Hillary one), and is seen as in the pockets/in cahoots with wall street (once again, doesn't matter if it's true or not, its the optics of it). This will only embolden all these points.

Honestly, I hope the left hits her on it hard if Kaine's the pick - protests, etc.
 
Grizzlyjin

Grizzlyjin

Supersonic, idiotic, disconnecting, not respecting, who would really ever wanna go and top that
It wouldn't look good for her, but the GOP wouldn't be able to use it as a plan of attack to woo anyone because of Pence. And it's Vice President. His utility is for a few months this year and then again in 2020. Hillary still sets the agenda and I can't see her getting on board with this.
 
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