“Ideas control the world.”
- James A. Garfield
CONVENTION CORRECTION: With the fallout from the RNC’s first day still lingering, Donald Trump’s historic day two moved to right the ship, with key members of the Republican leadership, Trump’s family and inner circle moving into the spotlight. Speeches by Senate Majority Leader Mitch McConnell and Speaker Paul Ryan offered up lukewarm support of the party’s nominee (better than cold, huh?) and largely focused on their agendas for Congress as well as unity without tipping their hats too far in Trump’s direction. And, in a preview of what to expect this fall, Governor Chris Christie delivered a blistering assault on Hillary Clinton and her record dusting off his prosecutor’s badge. If Trump and Co. execute the next two days flawlessly, a largely unified party could be within reach by the end of the week, but don’t hold your breath. Trump’s formal nomination drew mixed reactions with some delegates chanting enthusiastically, while others shouted in protest - but most left confused due to the lack of focus on the theme of the day - Make America Work Again.
PARTY OF ONE: Going into it’s sixteenth month, Trump’s campaign has been unscripted, unpredictable and undermanned from the start - and the bizarre rollout of Governor Mike Pence and the early missteps of the convention - especially Melania’s speech and ill-conceived response - were bound to happen. Stepping all over her big moment without holding anyone accountable illustrates the level of disorder ingrained in Trump’s world. The campaign’s lack of organization, infrastructure, and skeletal staff are all symptoms of a much larger problem augmented by Trump’s continued focus on himself.
BACK TO THE BATTLEGROUND: The late addition of former IA Governor and current Ag Secretary Thomas Vilsack to the top of Clinton’s veep short list along with VA Senator Tim Kaine shows that she may be moving in the direction of one of two battleground states. But if you take a step back from electoral college strategy for a moment you can see that Clinton may be making a play for Independents and Republicans angered by their party’s choice (as well as white, college educated, middle-aged men), but risking the support of the progressive wing of her own party. We don’t expect progressives to sit on their hands and stay quiet though - picking one of these two could make some noise within the party, but opposition to the Trump/Pence ticket should be enough to get them fired up on November 8.
A BOLT FROM THE BLUE: In a surprise move, Republicans threw a wrench in the works of the financial services community by including a call to reinstate the Glass-Steagall Act in their convention platform – a law repealed by President Bill Clinton in 1999. Our view is that the passage is Trump’s attempt to generate populist appeal as well as woo voters who view Clinton is too close to Wall Street and too timid on financial reform. We would typically discount a platform move of this sort, but with some Republicans hopping on board a Democratic ideal - it’s worth keeping on the radar for 2017.
CALL INVITE | BREXIT IMPLICATIONS – A 360° ANALYSIS: Please join us this Friday, July 22nd at 11:00 AM EST as we begin a series of calls on post-Brexit implications. Our first call, in conjunction with the international law firm of Squire Patton Boggs, will examine Brexit’s legal and procedural implications. You can find call details here.
COPYRIGHT PROBLEMS FORCING RE-THINK OF FCC SET-TOP PROPOSAL: Our Telecommunications-Media Policy Analyst Paul Glenchur shared his insight on why lawmakers and a key FCC Commissioner worry the FCC set-top proposal would violate copyright law, moderating threats to cable operators and Arris. You can read his piece here.
IRAN NUCLEAR DEAL EMERGING AS A POTENTIAL ELECTION RISK FOR ENERGY MARKETS: Our Senior Energy Policy Analyst Joe McMonigle shared his insight on Trump’s pledge to undo the nuclear deal with Iran, and why reimposing US sanctions will put Iran's 750K barrels per day of new crude exports to the world markets at risk. You can read his piece here.
CMS PANEL VOTES TO RECONSIDER DEFINITIVE DRUG TESTING LAB FEES: Our Healthcare Policy Analyst Emily Evans shared her insight on the CMS panel’s reconsideration of Medicare definitive drug codes. You can read her piece here.