Republicans Are Shutting Down Wall Street, Too

Republicans seem indifferent to whether our men and women in uniform get paid, or whether pregnant women and infants get food.

A government shutdown means virtually a complete shutdown of the Securities and Exchange Commission (SEC). This means no Initial Public Offerings (IPOs). Companies cannot "go public." Moreover, established companies that are already "public" will in most cases not be able to issue additional stock and bonds to raise capital.

Our well-regulated $100 trillion capital markets provide security to investors. We attract capital from around the world. During this shutdown, the SEC will be able to do almost nothing to protect investors. There will be more investor protection in Uzbekistan's capital markets than on Wall Street.

Wall Street without a cop on the beat. What could go wrong?

The Republican Political Strategy

The Republican shutdown will do severe and lasting damage to our economy. In late 2024, voters will have forgotten the machinations surrounding the Fall 2023 shutdown. But we will be living in a damaged economy – which Republicans will call Bidenomics.

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