Showing posts with label Josh Gottheimer. Show all posts
Showing posts with label Josh Gottheimer. Show all posts

Wednesday, June 9, 2021

Why Dems Lose - Corporate Dem Crook Update - Gottheimer Rakes In Cash From Rent-a-Bank Practitioners He Supports

Here's a clue as to why Dem party, controlled by Corp Dems, is despised by so many and is getting nothing done, even with control of all 3 branches. Despite the attacks on the squad coming from the right - I have friends who claim Biden is under their control - LOL - progressives play a tiny roll, though with a big megaphone, which often doesn't get you any real power.

By the way -- I also need to remind you that the UFT/Unity Caucus power elite is totally on board with corp dems and if the progressives were ever to primary Gottheimer, the UFT would support him - but of course they don't endorse in Jersey.
 

David Dyan American Prospect is an often must read. We know the Republicans are scum but we need to remind ourselves often that so are many - if not most - Dems. Just look at the mayoral race.

Gottheimer Rakes In Cash From Rent-a-Bank Practitioners He Supports
Yesterday, I wrote about how House Democrat and co-chair of the Problem Solvers Caucus Josh Gottheimer (D-NJ) is trying to block a resolution that would eliminate a Trump-era rule allowing predatory lenders to partner with federally chartered banks to evade state interest-rate caps and charge whatever they want for consumer loans. I noted that Gottheimer is one of Wall Street’s go-to Democrats, and that he’s raised over $6 million from the finance, insurance, and real estate sectors over the course of his short congressional career.

 What I didn’t know then is how the small group of companies that specifically use this tactic of laundering loans through banks to charge higher interest rates have funneled support to Gottheimer. I did mention that Opportunity Financial, an online lender that charges 160 percent interest on its loans in 24 states thanks to a partnership with FinWise Bank, gave a total of $1,500 in two installments from its political action committee to Gottheimer in the 2019–2020 election cycle. The CEO of OppLoans, Jared Kaplan, personally gave Gottheimer $500.