Ocasio-Cortez Reportedly In Line For Banking Post, And That Could Be Bad News For Wall Street

Freshman Rep. Alexandria Ocasio-Cortez, who is a registered Democrat but identifies as a democratic socialist, is in line to be appointed to the House Financial Services Committee, according to a Politico report.

Freshman Rep. Alexandria Ocasio-Cortez is in line to be appointed to the House Financial Services Committee, according to a Politico report.The New York democratic socialist would be a thorn in the side of Wall Street, which has seen its regulatory burden lowered since Donald Trump became president.Ocasio-Cortez also could be an important ally for committee Chairwoman Maxine Waters.

Big banks could be about to get a high-profile enemy in a very powerful place.

Freshman Rep. Alexandria Ocasio-Cortez, who is a registered Democrat but identifies as a democratic socialist, is in line to be appointed to the House Financial Services Committee, according to a Politico report .

The New York legislator has vowed to take on the industry that makes up the corporate backbone for much of her constituency. She said during her successful campaign in 2018, in which she refused corporate donors and upset entrenched incumbent Democrat Joe Crowley, that she was hoping for an assignment that would allow her to take on big finance.