Rep. Eric Cantor was Wall Street’s man in the GOP. Cantor was “one of the few remaining House Republicans who understood the complicated and nuanced issues facing the financial services community,” a Wall Streeter told Politico in a piece on this topic.
In general, the GOP’s K Street wing ought to worry, as Dave Brat beat Cantor by tying him to Wall Street and Big Business, Conn Carroll explains:
Ron Fournier at National Journal warns that Cantor is the victim of a populist uprising.
The Chamber of Commerce and the National Association of Manufacturers lost an ally in the fight to reauthorize the Export-Import Bank, a subsidy agency. Politico Pro reports:
As far as the race to succeed to Cantor as Majority Leader, American Banker magazine warns that things could turn in an anti-Wall Street direction: current Financial Services Committee Chairman Jeb Hensarling could win, and “it’s likely the free-market conservative would adopt a less business-friendly leadership style relative to Cantor.”
Business-friendly and free-market are different things. GOP donors are in one place. GOP voters are in another.
