Benzinga

España
Italia
대한민국
日本
Français
Benzinga Edge
Benzinga Research
Benzinga Pro

  • Get Benzinga Pro
  • Data & APIs
  • Events
  • Premarket
  • Advertise
Contribute
España
Italia
대한민국
日本
Français

Benzinga

  • Premium Services
  • Financial News
    Latest
    Earnings
    Guidance
    Dividends
    M&A
    Buybacks
    Interviews
    Management
    Offerings
    IPOs
    Insider Trades
    Biotech/FDA
    Politics
    Healthcare
    Small-Cap
  • Markets
    Pre-Market
    After Hours
    Movers
    ETFs
    Options
    Cryptocurrency
    Commodities
    Bonds
    Futures
    Mining
    Real Estate
    Volatility
  • Ratings
    Analyst Color
    Downgrades
    Upgrades
    Initiations
    Price Target
  • Investing Ideas
    Trade Ideas
    Long Ideas
    Short Ideas
    Technicals
    Analyst Ratings
    Analyst Color
    Latest Rumors
    Whisper Index
    Stock of the Day
    Best Stocks & ETFs
    Best Penny Stocks
    Best S&P 500 ETFs
    Best Swing Trade Stocks
    Best Blue Chip Stocks
    Best High-Volume Penny Stocks
    Best Small Cap ETFs
    Best Stocks to Day Trade
    Best REITs
  • Money
    Investing
    Cryptocurrency
    Mortgage
    Insurance
    Yield
    Personal Finance
    Forex
    Startup Investing
    Real Estate Investing
    Prop Trading
    Credit Cards
    Stock Brokers
Research
My Stocks
Tools
Free Benzinga Pro Trial
Calendars
Analyst Ratings Calendar
Conference Call Calendar
Dividend Calendar
Earnings Calendar
Economic Calendar
FDA Calendar
Guidance Calendar
IPO Calendar
M&A Calendar
Unusual Options Activity Calendar
SPAC Calendar
Stock Split Calendar
Trade Ideas
Free Stock Reports
Insider Trades
Trade Idea Feed
Analyst Ratings
Unusual Options Activity
Heatmaps
Free Newsletter
Government Trades
Perfect Stock Portfolio
Easy Income Portfolio
Short Interest
Most Shorted
Largest Increase
Largest Decrease
Calculators
Margin Calculator
Forex Profit Calculator
100x Options Profit Calculator
Screeners
Stock Screener
Top Momentum Stocks
Top Quality Stocks
Top Value Stocks
Top Growth Stocks
Compare Best Stocks
Best Momentum Stocks
Best Quality Stocks
Best Value Stocks
Best Growth Stocks
Connect With Us
facebookinstagramlinkedintwitteryoutubeblueskymastodon
About Benzinga
  • About Us
  • Careers
  • Advertise
  • Contact Us
Market Resources
  • Advanced Stock Screener Tools
  • Options Trading Chain Analysis
  • Comprehensive Earnings Calendar
  • Dividend Investor Calendar and Alerts
  • Economic Calendar and Market Events
  • IPO Calendar and New Listings
  • Market Outlook and Analysis
  • Wall Street Analyst Ratings and Targets
Trading Tools & Education
  • Benzinga Pro Trading Platform
  • Options Trading Strategies and News
  • Stock Market Trading Ideas and Analysis
  • Technical Analysis Charts and Indicators
  • Fundamental Analysis and Valuation
  • Day Trading Guides and Strategies
  • Live Investor Events
  • Pre-market Stock Analysis and News
  • Cryptocurrency Market Analysis and News
Ring the Bell

A newsletter built for market enthusiasts by market enthusiasts. Top stories, top movers, and trade ideas delivered to your inbox every weekday before and after the market closes.

  • Terms & Conditions
  • Do Not Sell My Personal Data/Privacy Policy
  • Disclaimer
  • Service Status
  • Sitemap
© 2026 Benzinga | All Rights Reserved
July 11, 2023 5:13 PM 2 min read

GOP Senator Calls Schumer's Plan To Pass Marijuana Banking This Summer 'Wishful Thinking'

by Maureen Meehan Benzinga Editor
Follow

A Republican senator stopped short of saying his colleague, Majority Leader Chuck Schumer (D-NY) was dabbling in magic realism, the style created by the late Colombian novelist Gabriel Garcia Marquez, which paints a realistic view of the modern world while adding magical elements. 

Texas Sen. John Cornyn (R) was referring to Schumer’s recent Dear Colleagues letter in which he referenced moving forward on cannabis banking and a laundry list of other bills this summer, that is to say before June 23.

“Maybe you would call this a wish list,” Cornyn said, reported Marijuana Moment.

Schumer's to-do list included drug pricing, fentanyl, rail safety, marijuana banking, China competition, artificial intelligence and more.

“But it is only wishful thinking to believe that in the U.S. Senate you are going to be able to get all of these necessary items addressed in the next ten working days.” Cornyn added that he doubted Schumer actually believed it was possible.

Schumer himself had acknowledged in the letter that it would “not be easy” to achieve his list of goals, emphasizing the need for GOP collaboration. But he did signal that he thinks cannabis banking reform, among other priorities, was achievable even under the tight deadline.

Schumer Gets Schooled By Cornyn: 'It’s Not Performance Art' (Ouch!)

Cornyn raised another potential issue with the majority leader’s plan. He questioned whether Schumer had “pre-vetted” the bills with the Republican-controlled House or inquired with the White House about whether the president would sign the legislation.

“That is how we legislate around here. It is not performance art. It is not show business. This is actually about doing the people’s business and passing legislation through an admittedly difficult process,” Cornyn said. “But this is where we find ourselves having waited until this late moment to deal with so much important legislation. The Democratic-controlled Senate has been downright sleepy for the last six months. And I have no reason that this letter, this wish list, will prompt some miraculous turnaround.”

Again, ouch!

Want to talk more about the fascinating politics surrounding cannabis banking and legalization? Join us at the Benzinga Cannabis Capital Conference in Chicago this Sept 27-28 for its 17th edition. Get your tickets today before prices increase and secure a spot at the epicenter of cannabis investment and branding.

Photo: Schumer and Cornyn, Twitter

Market News and Data brought to you by Benzinga APIs

© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

To add Benzinga News as your preferred source on Google, click here.


Posted In:
CannabisM&ANewsPoliticsEventsMarketsGeneralChuck Schumer
Beat the Market With Our Free Pre-Market Newsletter
Enter your email to get Benzinga's ultimate morning update: The PreMarket Activity Newsletter
Beat the Market With Our Free Pre-Market Newsletter
Enter your email to get Benzinga's ultimate morning update: The PreMarket Activity Newsletter
Comments
Loading...