The coddling of big banks is at the heart of Eric Cantor’s shocking election upset, is a claim supported by a new study on the topic.
As if providing the campaign toolset for campaign managers not afraid to offend the control of the large banks, Better Markets Dennis Kelleher considered Dave Brat’s primary campaign message and defeated Eric Cantor and then offered statistics to back up the point of view.
Wall Street crooks are on Cantor’s Rolodex
“The crooks up on Wall Street and some of the big banks – I’m pro-business, I’m just talking about the crooks – they didn’t go to jail, they are on Eric [Cantor]’s Rolodex,” Brat had repeatedly hammered on the campaign trail. Better Markets says focusing on Cantor’s loss due to immigration is misguided. Taken a few steps further, it could be viewed as assisting the banks in obfuscating their control and encouraging accountability of the financial elite.
“The Cantor upset proved, these continue to be potent issues and politicians should not ignore voters who want their interests protected, not Wall Street’s high risk gambling,” Better Markets said in a statement.
Wall Street crime is a major issue
Supporting claims that Wall Street crime is a major issue, Better Markets cites a recent poll from Greenberg Quinlan and Rosner research drew the conclusion that “voters not only distrust Wall Street, they want strong, serious reform. A vast majority in the study believed the markets are “rigged” and “hurt everyday Americans.”
The study of 1,000 likely voters, the study found a bipartisan majority was clear. “Voters want accountability and do not want Wall Street pretending to police themselves. They want real cops on the Wall Street beat enforcing the law,” a statement said. Who wants reform the most? According to the study it is investors who want tighter regulation and real accountability, the study found.
In other words: if Wall Street wants trust in the system, stop covering up the criminal behavior and start prosecuting the individuals responsible.
“This should be no surprise,” Better Markets Kelleher said. “Voters saw the too-big-to-fail Wall Street banks receive billions in bailouts from taxpayers with no strings attached or accountability, while the American people suffered from the crisis those bailed out Wall Street banks caused, including millions of foreclosures, tens of millions unemployed, and trillions in lost wealth and savings.”
Previous campaigns using Wall Street as a theme have proven successful, such as the “Justice For Sale” campaign developed for Republicans. The TV ad tested in the top of its category but the campaign was shelved for unexplained reasons. Questing about why the campaign was shelved after successful testing and if the big banks were not allowed to be targeted for criminal behavior in political campaigns went unanswered by American Future Fund, the political action group that ran the ad.