Banks are breathing a sigh of relief after established GOP incumbents bested a handful of Tea Party challengers at the polls recently…
But industry advocates do not expect everything to be plain sailing from here. Instead, the murky political layout means the financial sector is taking things on a candidate-by-candidate basis.
“As an industry, we have to look at every member of Congress independently, we can’t just assume that there’s going to be one party for us and one party against us,” said Francis Creighton, head of government affairs for the Financial Services Roundtable.
And there still seems to be some potency to bailout bashing, even if its effectiveness came from an unexpected source. In Kentucky, Bevin made a habit of hitting McConnell for supporting the Troubled Asset Relief Program back in 2008. But McConnell’s team went on offense, dubbing him “Bailout Bevin” after it was revealed Bevin signed a document calling the federal rescue of the financial sector was a “positive development” shortly after it was passed.
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