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The Swamp

Massachusetts Secretary of State Facing Scrutiny Over Massive Regulations

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An anti-capitalist Secretary of State is facing serious scrutiny due to his overregulation of small businesses which has hurt the financial services industry in Massachusetts.

“After nearly a quarter-century as the state’s top elections official, Secretary of State William Galvin is facing his toughest re-election campaign in decades as he tries to fend off fellow Democrat and Boston City Councilor Josh Zakim in the Sept. 4 primary,” said Boston.com. 

Though Galvin eventually won his primary, he is not out of the woods in a state that, despite voting overwhelmingly for Democrats in presidential elections, has a Republican governor with a high approval rating.

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Small business owners in the state – particularly in the financial services industry – have been dismayed by Galvin’s vindictive attitude towards capitalists, whom he has crushed with fines and regulations under the guise of “fighting for the little guy,” which is socialist code for redistributing wealth from the private to the public sector.

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According to an InvestmentNews report Galvin ordered $56 million worth of fines against broker-dealers between 2012 and 2013, which is nearly as much as his federal counterparts, Financial Industry Regulatory Authority (FINRA) imposed nationwide over the same time period.

“Bill Galvin has been a highly aggressive securities regulator for years,” said Denise Crawford, former securities commissioner of Texas. “The only reason the world doesn’t know his name is because he’s not in New York. If he were in New York, he’d be a household name nationally.”

Galvin has targeted small investment firms like SII Investments Inc. with massive punishments for inconsequential rule breakages.

“Massachusetts Secretary of the Commonwealth William Galvin banged away Friday on another independent broker-dealer for sales of nontraded real estate investment trusts (REITS), this time ordering SII Investments Inc. to pay money back to clients who bought the REITs,” said another InvestmentWatch report. “SII failed to supervise the sale of the nontraded REITs, according to a statement from Mr. Galvin’s office. As a result of the settlement, any Massachusetts investor who was identified by Mr. Galvin’s office as having been improperly sold the REITs by SII will be offered their money back.”

A year prior, Galvin charged the same company with “dishonest or unethical conduct and failure to supervise” in another overbearing attempt to quash private industry.

Galvin has also gone after companies like GPB Capital, targeting 63 broker dealers who sell GPB’s private placements.

Massachusetts voters have an opportunity on Nov. 6 to make a statement: that quashing private industry with burdensome regulations and red tape will no longer be tolerated.

The Swamp

Dan Crenshaw White Knights for Liz Cheney After Republicans Blast Her Support for Trump’s Second Impeachment

Birds of a feather flock together.

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Liz Cheney, daughter of Dick, was one of ten GOP House members to vote “yes” on President Donald Trump’s unprecedented second impeachment. Then when some were calling on Cheney to resign over her disgraceful vote, Dan Crenshaw, who voted against impeachment, quickly came to her defense and announced his “full support” for her.

“Let’s get some truth on the record: @Liz_Cheney has a hell of a lot more backbone than most, & is a principled leader with a fierce intellect,” Crenshaw tweeted Wednesday afternoon. “She will continue to be a much needed leader in the conference, with my full support.”

“We can disagree without tearing each other apart,” he added.

Crenshaw himself was then roundly criticized in the replies to his tweet.

Cheney’s vote comes as no surprise. Big League Politics reported on her recent statement in support of Trump’s second impeachment, part of which read: “There has never been a greater betrayal by a President of the United States of his office and his oath to the Constitution. I will vote to impeach the President.” For this CNN laughably called her the “conscience of Republicans.”

Read More: No, Liz Cheney is Not the Future of the GOP

As the old saying goes, “birds of a feather flock together.” Dan Crenshaw and Liz Cheney most certainly do not represent the future of the GOP.

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