I appreciate a story that tells me something I didn’t already know. The capitalists on Wall Street have traditionally been tolerant about their captive politicians’ religious quirks, as long as those quirks didn’t get in the way of Wall Street’s religion — aka, The Almighty Dollar. Here’s a great tale by Joshua Green at Bloomberg Politics about another government Talibangelical whose existence had not previously crossed my awareness, Rep. Scott Garrett (R – NJ), “chairman of the powerful Subcommittee on Capital Markets & Government Sponsored Enterprises”:
… Garrett’s committee is vital to Wall Street. “The rules of the road for handling money and anything with the SEC go through this committee,” says Marcus Stanley, policy director of the nonprofit Americans for Financial Reform. “There’s a ton of money at stake.” In Washington, the committee is known as the ATM, because banks and hedge funds shower the chairman with contributions. After the Dodd-Frank financial law forced hedge funds to register with the Securities and Exchange Commission, Garrett, already the recipient of more Wall Street money than almost any other member of the House, got millions more. The banks pay to have a voice, ensure they’re at the table when new rules are discussed, and insinuate themselves into the chairman’s good graces.
Much of the money Garrett collects from Wall Street is supposed to be passed along in the form of party dues to the GOP’s campaign arm, where it’s used to help other candidates get elected. So the committee is also important to Republicans because it binds the party with the business community in a mutually profitable arrangement. But back in July, Garrett threw a wrench into this smoothly humming machine.
At a private caucus meeting, he got into a heated dispute with his colleagues by declaring that he’d withhold hundreds of thousands of dollars in National Republican Congressional Committee dues to protest the party’s support for gay candidates. His outburst immediately caused a rift in the caucus…
Some of Garrett’s colleagues were simply upset that he was stiffing the NRCC. But others understood that he was jeopardizing the party’s electoral and financial fortunes: As the GOP struggles to widen its appeal, Garrett’s comments, which quickly became public, reaffirmed the impression of Republicans as stridently intolerant… Read more