Charlie Rangel’s primary opponent, hope and Change for NYC?

Charlie Rangel’s primary opponent is Vincent (Vince) S. Morgan. I looked him up as well as I could and his current employment is as a VP at TD Bank apparently in charge of compliance with the CRA. His Face book bio contains info as follows:

Vince’s professional career spans almost two decades in sectors ranging from business to banking to politics. Currently, he serves as a Vice President and Community Development Manager for TD Bank. As manager of Community Reinvestment Act (CRA) compliance for the State of New York and Northern New Jersey, he manages strategic partnerships in both corporate and not-for profit sectors. Two of his priorities are the development of affordable housing and financial literacy. “As a community banker, I am most proud of my work to bring resources to not-for-profits dedicated to investing in people and neighborhoods.”

He began working for Rangel  in 20001 as a volunteer. At the current time he is also listed as a founder of Harlem Now.

His Facebook bio does not mention that he is also the chairman of the 125th Street BID.   My understanding is that in NYC BIDs (Business Improvement Districts) are quasi-public entities which are intended to help a community develop itself. They are funded by a tax on businesses in the designated community.

From my research above it seems to me that Morgan is not much of a reformer as much as an ambitious political machine politician. Even if his is elected in place of Rangel the ideology will be as before i.e. liberal/leftist. (Meet the new Boss, same as the old Boss.) The major difference would be that Morgan not having as much seniority as Rangel accumulated in the House would not be installed as chairman of the powerful House Ways and Means Committee but would start out as a relatively powerless freshman representative.

Morgan eventually may be more effective on behalf of his ideology then Rangel.  Rangel despite his seniority in the House and the fact the MSN treat him as some sort of deity is really sort of a clown/incompetent. I remember his way of trying to stop the Iraqi war effort was to propose a draft. In addition Rangel once met with officials of AIG to seek and donation to a school at City College named for Rangel, shortly after which AIG sought Rangel’s support for a tax cut bill benefitting AIG.  How much more open and obvious can you be! Rangel also used a rent-stabilized apt in the building where he lives as a campaign headquarters. The rent stabilizations laws were supposed to help NYC residents keep their apts by limiting rent increases.

It may be too early to tell but Morgan doesn’t seem to stand for anything new under the sun, just old wine in a new bottle. He might be smoother then Rangel having had some corporate experience. But the fact that his current job at TD Bank (I can’t find out any info on how long he’s held this job) involves compliance with CRA requirements leads me to believe his skills may lie more in the field of gaming the system rather than pushing for real reform and changing the dysfunctional way this city works.  The CRA forced banks to lend money to people who previously were turned down for loans because the banks (based on prior experience in the field of banking) thought there was a significant likelihood the loans could not be paid back. The politicians behind the CRA on the other hand knew better.  We all know how that turned out, gee the banks who had been in the business of making loans for decades were right.  The CRA forced banks to hire compliance staff/community liaisons like Morgan which in my mind is like a protection racket- if you don’t hire our friends we’ll complain you’re not complying with the CRA and cause you all sorts of trouble.

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