Biden choice as V.P. scares credit card companies
August 29, 2008 | alternatives, industry | Comments (0)The Senator from Delaware is a good friend to credit card companies. Seems like they’d rather have him in the Senate. From the story:
Jaret Seiberg, a financial services policy analyst at the investment firm Stanford Group Co., said: “Credit card issuers were going to face an uphill battle if Obama won regardless of the vice presidential choice.”
“Our point is that Biden is unlikely to moderate Obama’s approach to credit card legislation as vice president, whereas he could have been a moderating influence on credit card legislation if he had remained in the Senate,” Seiberg said.
“To us, that means this selection is a negative for the credit card issuers.”
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