With Alexandria Ocasio-Cortez, these democratic elites who are worried about Wall Street

"It is a huge victory": Alexandria Ocasio-Cortez, the youngest and lobby skipper of the American Congress, celebrated her arrival, along with a cohort of progressive voters, to the powerful financial committee of the House of Representatives. . Opposite, Wall Street prepares for two years of intensive supervision.

"Can not exaggerate the importance of this moment," the 29-year-old insisted on the Socialist, a word that is still very much left in the United States and regarded by the conservatives as a threat.

"Democrats choose elected officials who have turned down campaign funds from big companies to sit on the Wall Street committee," she said on her Twitter account for her nearly 2.5 million subscribers, from his early morning hours an immense media interest for this committee usually boring.

Opposite, market analysts investigate the intentions of strong Democrats for their new majority in the House of Representatives, after eight years of Republican control.

If the Senate stayed in the republican flock and effectively prevented the adoption of radical reforms, the control of the Democrats of the lower house would at least make life more difficult for bankers, with more control over the sector and long working days. . public hearings.

It was after one of these "disciplinary councils" that John Stumpf, then CEO of Wells Fargo, had to resign in 2016 due to his treatment of a fictitious bank scandal.

The symbols are already striking.

Normine Waters, 80 years old, is the first woman and the first black person to lead the committee.

With a warning for the financial sector: "No more time" to make the Republicans firm against the rules that the big banks would have to regulate, to prevent a new crisis.

It was because Wall Street was "free-wheeling" that the United States collapsed in the financial crisis in 2008, Maxine Waters pleaded on 16 January in his first policy speech on the post.

"We are afraid that it strengthens the control over the big banks", AFP admits as a bank. "More CEO hearings will take place in Congress."

– Sensation –

Half of the democratic newcomers in the committee belong to the group of parliamentarians who claim on the left side of the party, such as Alexandria Ocasio-Cortez.

Including two new women who, like her, caused a stir during the campaign: Ayanna Pressley, the first black woman who represented the state of Massachusetts in Washington, and Rashida Tlaib, the first Palestinian American and one of the first two Muslim women.

They all defend greater control over banks, but also promise to fight to facilitate access to credit and housing while strengthening diversity in the banking sector. Their appointments have yet to be ratified by the Democratic group, but have little doubt.

"Personally I like to look at the student crisis, (…) to explore the development possibilities of the public and the postbank," Alexandria Ocasio-Cortez wrote.

"Public Bank": two words that occupy Wall Street.

But "it is not Cortez who will determine the program of the committee", it is Maxine Waters who sits there since 1991, temper a second source banking.

"We do not agree with (Maxine Waters) on many points" but "we know her and she knows us", continues this source. "We can work on proposals for consensus between democrats and republicans".

Maxine Waters announced Friday the introduction of a bill to combat insider trading presented by Democrats and Republicans.

The alliance of Progressive Democratic Senators goes to the Senate, where they can count on a major asset: Elizabeth Warren, who recently joined the presidential race of 2020.

Although she is in the opposition, the 69-year-old senator has built her reputation by defending Wall Street's wanderings, where she is both feared and hated. As a member of the Senate finance committee, she tirelessly questions bankers and members of the government.

"With the Republican majority in the Senate, Waters' best hope for the next two years is to keep financial issues in the spotlight, in the hope that they will influence the elections," said Chris Low, an FTN analyst.

Trust someone who is as media friendly as Alexandria Ocasio-Cortez "reinforces this goal".

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