George Will: Eric Cantor Represents The Nexus Between Republicans And Wall Street

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CHRIS WALLACE: You know, for all the talk, George, about the Tea Party, this big victory, making huge inroads in the Republican Party, as I discussed with the two members of Congress, it looks like an even more moderate member, the number three man, Kevin McCarthy, is going to move up to either number two man and he may also get a moderate taking his number three slot. What happened?

GEORGE WILL: You keep using the word moderate. You're going to get all these people in trouble, Chris.

WALLACE: No, no, no, relatively speaking moderate. But I mean, you know, obviously that one of the concerns with Cantor was he was seen as insufficiently conservative.

WILL: Well, I'll give you an example. Cantor loses at 8:00 in the evening Tuesday. By 3:00 in the afternoon Wednesday, when the stock market closes, Boeing has lost 2.3 percent of its value. Why? Because one of the issues nothing will get done, I'll tell you something that may get done now because of this, and that is de- authorizing, refusing to reauthorize the Export-Import Bank, which is known in Washington for very good reason as Boeing's bank, and has become a symbol to people like David Brat of crony capitalism, not without reason. Another time line.

WALLACE: Let me just ask about the connection of that. Why is Cantor connected to ...

WILL: Cantor is the nexus between the Republicans and the House and the Wall Street, and the financial community generally, and he was a supporter of reauthorizing the Ex-Im Bank, and I think the Export-Import Bank, this will stun you as counterintuitive, played as larger role in that election as immigration did and they were all part of the same (inaudible) of issues that said this man is an insider not paying attention to normal people.

WALLACE: So why does it look like an insider is going to win for majority leader and may win for whip?

WILL: Well, for majority leader, this is a relational place, the House of Representatives, and Mr. McCarthy has good relations with everybody, and as I say, when you call him a moderate, smile when you say that.

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