It’s Twue, it’s Twue!

8+ We are rapidly accelerating toward mid-term elections that will be described as the most im
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Mark Kahn
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.

Louis Burge
Louis Burge

It truly is exhausting.


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 (, 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.


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