In Cantor, hedge funds and private equity firms have voice at debt ceiling negotiations

[alp227]

Source: The Washington Post

As the debt ceiling talks tick down to the Aug. 2 deadline, leading the opposition to any deal that includes higher taxes is the new tribune of rank and file House Republicans: Majority Leader Eric Cantor of Virginia.

It was Cantor who walked out of talks with Vice President Biden over White House demands for new revenue, who torpedoed an initial attempt by President Obama and Speaker John A. Boehner to reach a “grand bargain” and who was invited for last-ditch talks with Obama and Boehner that collapsed Friday night.

Cantor’s pivotal role marks a rapid rise to power for the 48-year-old from the Richmond suburbs. It also represents a major coup for sectors of the investment community that Cantor has been striving to assist for several years — on the same tax issues that have been at stake this month. And so far, Cantor has prevailed on those issues.

Among the White House’s top demands for new revenue are changes in the tax code affecting hedge funds, private equity firms and real estate partnerships, which would raise an estimated $20 billion over 10 years.

Read more: http://www.washingtonpost.com/politics/in-cantor-hedge-funds-and-private-equity-firms-have-voice-at-debt-ceiling-negotiations/2011/07/22/gIQAZYNVYI_singlePage.html

[FreakinDJ]

1. Cantor, whose wife is a former Goldman Sachs vice president

Cantor has taken the lead in the House on fighting the same changes. He also has been one of the top recipients of contributions from those industries — last year, his two fundraising committees received nearly $2 million from securities and investment firms and real estate companies, more than double the figure for Boehner (R-Ohio)

[SpiralHawk]

2. RepubliCons Against America.

as usual

[titaniumsalute]

3. dupe sorry

dupe sorry

[titaniumsalute]

4. I find Cantor the most repulsive in the whole Congress

(and that is saying a lot)

[polichick]

5. The word PUTRID should've been coined just for him!

[iwishiwas]

8. Paul Ryan and him are two peas in a pod.

[neoralme]

11. Likewise. If he got run over by a steam roller, I would clap.

[Thor_MN]

16. I wouldn't. Do you have any idea how expensive a roller is? and how corrosive Cantor must be?

I pretty sure that Cantor juice would eat right through steel....

[neoralme]

17. I'll pay for the new roller. Costco has them.

[liberal N proud]

6. They don't even pretend any longer

They are being bold about who is really running things in this country.

[apostman]

12. Its an Alex Haig moment.

Hello,

I am trying to get my DU legs under me. I joined DU first time I heard the name Sarah Palin.

When Obama won (I was actually for Hillary) it was my hope that the democratic party was to be the standard for reason and compromise that led the beginning of a new millennium. It wasn't long the Tea Party was born in projected capricious spleen venting (see my avatar). Upon my joining DU I found it galvanized and little difference. I hope I am returning to a platform with least minimal courtesy.

In this the 11th hour of this nations first apparent bankruptcy, I am hoping to avoid the bankruptcy of civility.

Of paramount concern is the peoples voice in the election of a President has turned into a game of King of the Hill on a world stage.

Americans were born from the revolt to an oppressive King. Had that King been captured as prisoner, he would been afford all the respect due his position and definitely not shipped to Gitmo to be violently sadistically humiliated. That cannot be ruled out in the current attitude towards the office of the President.

Now I wish to discuss the President's powers invoking the 14th amendment and as in the past, that right to protest but the consequences of sabotage short of a firing squad.

*cool! a spelling checker, I beg pardon in advanced.

[liberal N proud]

13. Welcome to DU

[BobbyBoring]

15. Welcome

Funny thing those spell checkers! Shame they're not used on sites that really need them!

[plumbob]

7. Cantor, who has take short positions against Treasuries and therefore will make millions

off a default, but THAT wouldn't affect his judgment, right?


Right?

(crickets)

[BlueIdaho]

9. Good to see him representing his constituents.

After all they bought him, they might as well get their monies worth.

[The Wizard]

10. Eric Cantor is anal leakage (NT)

[apostman]

14. Democrats! Get their attention!!!

To any legislation on the debt ceiling attach the nationalization of all monetary contributions to Israel. Send Israel 50% of these contribution in the form of U.S. Savings Bonds and the remainder goes in the general fund.

[LetTimmySmoke]

18. And now Obama will do everything he can to please Eric Cantor.

After all, Eric Cantor disrespected Obama.

[marasinghe]

19. peasants have been revolting against their oppressors since 2380 BC; & probably before.

yet, descendants of the vaunted American revolution keep electing dreck like Cantor - whose obvious goal is to turn them into serfs - as their representatives, well into the 21st century AD. humans en masse, are truly the stupidest of social organisms.

http://en.wikipedia.org/wiki/List_of_revolutions_and_rebellions