Around 7:00 p.m. this evening, as the polls closed in Virginia’s 7th Congressional District, and as a populist, anti-Big Government and anti-Big Business challenger was about to record an amazing upset of the House majority leader in the GOP primary, an email arrived in TWS inboxes. It was from the White House Press Office, and consisted of the "DAILY GUIDANCE FOR THE VICE PRESIDENT" for Wednesday, June 11:
In the morning, the Vice President will attend the Presidential Daily Briefing in the Oval Office.
In the afternoon, the Vice President will travel to New York. At 1:45 PM, the Vice President will deliver the keynote address at the North American Energy Summit in New York City. This event at Goldman Sachs is open press.
Afterwards, the Vice President will return to Washington, DC.
Perfect. GOP voters go for Main Street and Middle America and against crony capitalism. As one politician told me tonight, "Fairly or unfairly, voters in VA-7 thought Eric Cantor represented K Street and Wall Street, not them."
Meanwhile, Joe Biden flies Air Force Two at considerable taxpayer expense to spend time on Wall Street at Goldman Sachs. And, one might add, Hillary Clinton interrupts her book tour to give a speech to a trade group in Chicago that paid her much more for her hour’s “work” than the average family in Virginia’s 7th Congressional District makes in a year.
If the leaders of the Republican party welcome and channel the energies of conservative populism rather than rebuff them, there could be a big GOP wave this November.
In Washington, the wail of voices crying "shutdown" is so loud one can hardly hear anything else this morning. But the further away you get from our panicked capitol, the less alarmed people seem to be. On Wall Street, before the opening, Bloomberg headlined that:
Eliot Spitzer, the former governor of New York who resigned in 2008 after it was revealed he was a client of a prostitution ring, has a new campaign ad for his run for New York City comptroller in which Spitzer admits he "failed. Big time." The 60-second ad, which features one news anchor saying the "Sheriff of Wall Street is back," mainly focuses on Spitzer explaining why he'd like to run for comptroller, which controls the city's budget as well as the pension funds for city workers.
President Barack Obama pledged this morning in his weekly radio address to continue to crackdown on "irresponsible behavior."
"Here in America, we know the free market is the greatest force for economic progress the world has ever known. But we also know the free market works best for everyone when we have smart, commonsense rules in place to prevent irresponsible behavior," Obama began.
Joe Biden, speaking at a campaign event in Virginia:
"Look at their budget, and what they are proposing," Biden said. "Romney wants to let--he said in the first hundred days, he's going to let the big banks once again write their own rules. Unchain Wall Street. They gonna put y'all back in chains."
Massachusetts Senate candidate Elizabeth Warren backed away from her statement that supporters of hers from Wall Street tell her she could "save capitalism." The Boston Herald reports on the Democratic candidate's walkback:
Is former Massachusetts governor Mitt Romney now the candidate of big finance and Wall Street? Several financial industry donors who gave to Barack Obama in 2008 have shifted their dollars to Romney, the Hill reports.
According to a review of fundraising data, 67 people who work in the financial sector and live in the New York City metro area gave to Obama in 2008 and the former Massachusetts governor in 2011.
This is a tale of two cities. Well, two streets, Wall Street and Main Street, with a stop on Pennsylvania Avenue along the way. On Wall Street all is cheery, if you don’t count the investment banks that are faced with rising costs, lower incomes, and the need to pare staffs. Investors have watched shares soar: the Dow Jones Industrial Average, the S&P index of 500 stocks and the Nasdaq are all well up on the year – by 9.3 percent, 6.8 percent and 7.8 percent, respectively, even after the sell-off that followed today’s jobs report.