It’s Twue, it’s Twue!

8+ We are rapidly accelerating toward mid-term elections that will be described as the most im
You have reached the maximum number of free, long-form articles for the month.

Please join here to read the rest of this content.

Paid Members can log in here.

7
Leave a Reply

Please Login as a Paid Member as a Paid Member to comment
  Subscribe  
newest oldest
Notify of
Mark Kahn
Member
Mark Kahn

“But when we are reading financial news, it is imperative that we look at loaded words like “Wall Street’s favorite lawmaker” with Clear Eyes and Full Hearts.”

The challenge is – as with noticing narratives – the better you get at it, the more it goes from being a cool “ah-ha” moment to a news version of tinnitus – a constant ringing of bells in your ears as you’ll see loaded words, narratives, subjective views, overdetermination and overconfidence – everywhere, all the time.

As with everything other than kitchens in restaurants that I’m eating in, it’s better to be informed, aware, alert, but my God, especially in a time of Ben’s widening “political gyre,” it’s exhausting. Clear Eyes and Full Hearts and completely exhausted.

0
Louis Burge
Member
Louis Burge

It truly is exhausting.

2+
John
Member
John

To be fair to the article’s authors, they do spill a fair bit of ink on the positions and opinions of Rep. Luetkemeyer (anti-DoddFrank, anti-CFPB, etc.) that go some way to support their characterization of him a Wall St. ‘favorite.’ I’d argue the data (donors’ occupation) isn’t a causative indicator anyway. Donors who work in finance care about non-financial issues too, and may just as well base their support of him on those. I agree, therefore, that the headline veers into the realm of fiat news, but…

According to the CRP website you reference (https://www.opensecrets.org/members-of-congress/industries?cid=N00030026&cycle=2018&type=C), Rep Luetkemeyer is in fact THE TOP recipient from the following industries in the 2017 – 2018 election cycle:
Commercial Banks (#1)
Finance/Credit (#1)
Payday lenders (#1)
And #3 for the Insurance industry

Moreover, Rep. Luetkemeyer has virtually no donors outside the banking/finance/insurance sector, and virtually no “small donors” either. So, I’d say if we’re going to measure him by his donors’ industry of employment (a proxy I question), then I think it’s fair to call him a “favorite” of commercial banks, finance/credit companies and payday lenders. Whether that collection of industries merits the appellation “Wall Street” is a whole separate ball of semantic wax, but I can’t get too riled about that one. I’d call this pitch a strike.

1+

The Latest From Epsilon Theory

DISCLOSURES

This commentary is being provided to you as general information only and should not be taken as investment advice. The opinions expressed in these materials represent the personal views of the author(s). It is not investment research or a research recommendation, as it does not constitute substantive research or analysis. Any action that you take as a result of information contained in this document is ultimately your responsibility. Epsilon Theory will not accept liability for any loss or damage, including without limitation to any loss of profit, which may arise directly or indirectly from use of or reliance on such information. Consult your investment advisor before making any investment decisions. It must be noted, that no one can accurately predict the future of the market with certainty or guarantee future investment performance. Past performance is not a guarantee of future results.

Statements in this communication are forward-looking statements. The forward-looking statements and other views expressed herein are as of the date of this publication. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements, and there is no guarantee that any predictions will come to pass. The views expressed herein are subject to change at any time, due to numerous market and other factors. Epsilon Theory disclaims any obligation to update publicly or revise any forward-looking statements or views expressed herein. This information is neither an offer to sell nor a solicitation of any offer to buy any securities. This commentary has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. Epsilon Theory recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a financial advisor. The appropriateness of a particular investment or strategy will depend on an investor’s individual circumstances and objectives.