Good! Say what you want about AOC (and I have) but she has the right idea here. Banks are used to meeting politicians and pushing their agenda. It would be great if the banks realized that populism is a danger to their whole reality, but they won't. If all politicians did what AOC was doing here, then the world would be a better place. --------------------------------------------- NY congresswoman AOC refuses to meet with banks' top brass The vast majority of New York City’s elected officials regularly meet with executives from the big banks. for the simple reason that these firms are the Big Apple’s largest private-sector employers, providing jobs to hundreds of thousands of local residents, from bank tellers to investment bankers who contribute billions of dollars to the local economy. There is, however, one prominent local politician who has flouted this common-sense approach to governing, and she goes by the initials "AOC." The FOX Business Network has learned that firebrand first-term liberal Democrat Alexandria Ocasio-Cortez, who represents a swath of the city in the U.S. House of Representatives, hasn't met with bank executives despite overtures made to her since she took office in January. Of course, Ocasio-Cortez isn't the only politician to have an adversarial relationship with the financial sector, particularly following the 2008 financial collapse that led to the Great Recession and economic hardship that followed. Many progressive politicians, including those from New York City like its mayor, Bill de Blasio, have often been at odds with the banks and their CEOs over issues such as tax policy. But what makes Ocasio-Cortez different is that while officials like de Blasio have maintained frosty relationship with the bank chiefs, she has chosen to have no relationship with them at all, even as bank officials have reached out to discuss issues with her, people with knowledge of the matter tell FOX Business. AOC is said to be possibly the only local elected official of any prominence who continues to refuse meetings with the banks, people with knowledge of the matter say. One reason the big banks are yearning for dialogue with Ocasio-Cortez is the rock-star status she has achieved in just a few short months since her upset victory over long-time Democratic Congressman Joe Crowley in a district that includes parts of Queens and the Bronx. Ocasio-Cortez, a 29-year-old former bartender and economics graduate from Boston University, has since gained notoriety and fame for espousing far-left views, particularly on the environment and economic issues championed by the party’s progressive base. Her opposition to corporate tax breaks the city and state offered Amazon forced the online retailer to recently cancel plans for a new headquarters in Queens. Meanwhile, she sits on the powerful House Financial Services Committee, which provides oversight on the big banks and Wall Street firms, making her a possible irritant to the CEOs who regularly appear before the committee. During a committee hearing last week, she needled both Jamie Dimon, the CEO of JPMorgan Chase, and Mike Corbat, the CEO of Citigroup, over the financial collapse. Sources at both banks say neither Dimon nor Corbat has met with AOC despite JPMorgan and Citigroup being the city’s top two private sector employers, and officials at both firms are said to want to meet with Ocasio-Cortez to establish some type of relationship. A spokesman for Citigroup declined comment as did a spokesman for JPMorgan. Press officials at Goldman Sachs, Bank of America and Morgan Stanley would not deny that they haven’t met with AOC. A spokeswoman for Ocasio-Cortez didn’t respond to emails or telephone calls for comment. “AOC is running a social movement against big money and the banks,” said Democratic political consultant Hank Sheinkopf. “She got away with chasing Amazon out of New York, and she isn’t afraid of JPMorgan and Citigroup, no matter how many people they employ in her district.” The New York City Partnership, the business community’s major lobby group in the city, has been made aware of the bank-AOC friction, and has been monitoring the situation, according to people with knowledge of the matter. An official at the partnership said at least one major bank CEO has asked the partnership to facilitate a meeting with Ocasio-Cortez, which has yet to materialize. “The banks are the city’s biggest employers and it’s just idiotic that she won’t meet with us,” said a senior banking executive who spoke on the condition of anonymity.
I dont know. Standing up to the banks is one thing- but her style is more of a "hey, I don't do capitalism or jobs or want any in my area" kind of thing. We get the idea that she sees the Bronx as being obligated to provide her with a platform for doing her national reality TV show. Not clear yet what her district gets back in return for electing her.
There's no question that it will have impact on her constituency or her re-election chances. All I'm saying is that if all politicians did this, then corporate "sponsors" of these politicians would quickly have to change their tune. Simply removing their business and seeking greener pastures wouldn't be possible, because no other politicians would give them favorable treatment. Much like socialism, it is a fantasy. Still, there are certain aspects that I admire and wish we could implement, if it weren't for corruption and human nature.
Gen Y has no fucking clue about the real world. Especially her. She should try some homelessness for a while. I endured it for a bit, and it SUCKED. Now I am paying HER to tell the HOMELESS that WE are the victims of capitalism? She is so far fucked-out in her head. My GOD man, what would that chick ever do without her smartphone? I bet she has never ever seen a rotary phone, or a subway token. You know, the ACTUAL PHYSICAL TOKEN we used to use to access the subway. Metrocard BITCH!
Just heard on tube that she be having a book deal in progress. Most likely a line of cosmetics coming too. As discussed I wonder if there will be some point where she crosses the 200 day moving average or something and her constituents wonder who is benefiting from all of that other than her- certainly not them. Probably she will drift along okay for a long time and then there will be some scandal or need in the district which was brewing and then exploded and it was clear that she had never given it any attention. You get a grace period in those positions, until you don't.
Well, here we go again. I'm long at the peak of the market. So for how long should I hang on? 100 points, 500, 1000 points? The gurus here seem to think that 10% drops happen every two-to-three years or so. As we have seen in 2018, that is false. The huge drops short are happening every six months now, and they are going to get more pronounced.