Cross-posted from The Nation
Eric Cantor, the face of the GOP establishment, one of the party's most prodigious fundraisers and the odds-on favorite to become the next speaker of the House, lost his Virginia Republican primary Tuesday to a challenger who promised, "I will fight to end crony capitalist programs that benefit the rich and powerful."
The result shocked the not just the Republican establishment but the DC establishment. The shockwaves continued Wednesday, as Republican aides said Cantor would step down July 31 from his position as the second most powerful figure in the House -- ending the congressman's run as a Washington power player who championed the interests of Wall Street and corporate America.
That Wall Street connection was a central theme of the challenge that displaced Cantor.
Dave Brat, who defeated the number-two Republican in the House by a 56-44 margin, tore into big business almost as frequently as he did the incumbent. "I am running against Cantor because he does not represent the citizens of the 7th District, but rather large corporations seeking insider deals, crony bailouts and a constant supply of low-wage workers," declared the challenger.