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Do Democrats Really Need Wall Street?


#1

Do Democrats Really Need Wall Street?

Harvey J. Kaye

A former Democratic operative writes in The New York Times that the party needs to drop FDR's progressive coalition and strengthen ties to Wall Street. He's dead wrong.

FDR dime.

#2

They believe they do, more’s the pity.


#3

“Schoen wants us to forget that Hillary Clinton lost the Upper Midwest not because of her supposed “lurch to the left,” but because many working people could not erase from their minds her lavishly paid Wall Street engagements and her adamant refusal to “release the transcripts” of those flattering speeches to the bankers.”

Neither reason reason is correct for Wisconsin. It has been shown pretty conclusively by studies that Hillary Clinton lost Wisconsin because voter ID laws. People are also now looking at the role of bogus Russian ads on social media and bogus Russian Facebook and Twitter accounts in the Michigan vote. It is probably hard to assess the impact of this Russian interference in the election but it is something that should be considered because of all the fake ad and fake news the people were exposed to on social media as a result of Russian interference in the election to help Trump.


#4

Democratic Party Establishment use the citizenry’s ignorance for votes and support.

They use Wall Street for money to stay in their jobs so that they can serve the Elites.

Messed up, isn’t it?


#5

It’s seems to me to be not a matter of "need " but more a matter of want


#6

The Republicans fear their base. Ask Eric Cantor, Bob Corker, Jeb Bush.

The Democrats abandoned their base. Ask Occupy and BLM. Better yet, let’s hear from Chuck Schumer:

“For every blue-collar Democrat we lose in western Pennsylvania, we will pick up two moderate Republicans in the suburbs in Philadelphia, and you can repeat that in Ohio and Illinois and Wisconsin.”

My only involvement with the D-Party? Shoveling dirt on their graves.


#7

“Schoen would have us forget both how Democrats once upon a time won national and state elections not by deferring to the demands of corporations but by challenging the power of predatory money, enhancing the rights and benefits of working people and directly addressing inequality and poverty.”

This mythology needs to die, once and for all.

The Democratic Party was founded by supporters of Andrew Jackson… yes - Donald Trump’s hero Andrew Jackson!.. and was, for a century, a party of slavery, Jim Crow segregation, and various other types of conservatism.

After the Depression - largely due to the strength of the labor movement and the Communist Party - the party leadership embraced New Deal liberalism. This lasted a few decades during a golden age after WWII when American capitalists dominated world markets, and were willing to share their profits with a (disproportionately white) working class.

The Democratic leadership was already trying to strangle this trend in the 1960s. By the 1990s the New Deal was definitively dead in the Democratic Party. Wall Street says no more pensions, no more job security, no more social safety net, no more wage growth, no more financial regulation - and the party falls in line. Sanders is the best representative of New Deal liberalism today. The Democratic leadership can barely conceal their contempt for his politics. They pretend to be allied with Sanders because their own leading politicians are far less popular and generally considered untrustworthy.

The party has never been a party of the people, and has always been subservient to the power of corporations and the fabulously wealthy.

So the answer to the question, “Do Democrats Really Need Wall Street?” is “Yes… which is why we don’t need them!”


#8

Bravo to Mr Kaye for telling it like it is, telling the truth on DINO “centrists” and overt corporatist tools like the Clinton’s, Chucky Schumer, Pelosi, and the other Clinton machine clones like Sean Maloney, Manchin Quisling creeps, and the cheap BS propagandist-revisionist Schoen himself, all those serve the 1% and themselves (and R’Con agenda) rather than the 99% and a sustainable future! Those sellouts to corporate, banker, wall street campaign-contribution bribes, and MICC war-machine uber alles, have destroyed the Dem Party legacy and betrayed the 99% - they ALL must be rooted-out of what’s left of our free republic and remnants of the Democratic Party or else it is finished as representative of the people and “opposition” party - now an infuriating joke!

The DINO sellouts, servants of vast wealth and power, really don’t give a shite if they (we) win elections or not, they will still (they think) gain advantage and wealth thru corrupt politics and (s)elections.of shills for big-money.


#9

I personally wouldn’t lift a finger to throw dirt on their graves Tank.

Let the Vultures have a meal.


#10

Yeah, you’re right, PB.

It’s just that a free shovel came with the pitchfork I bought!


#11

Of course, more “Russia did it!”

Clearly this geezer doesn’t use Facebook.


#12

What the Democrats need for than anything is fair elections.


#13

It has been decades since Americans actually ran America on legitimate American income, like taxes, tariffs, etc., and I would like to see us support ourselves once more. Right now and for many years prior, Wall Street has injected its money into our government through nefarious means, and we’ve been going along for a ride in the boat. We are not the captains of our ship, and we won’t be until Wall Street and corporations are NOT considered to be “persons”. We need to throw off the shackles, revise at least our military spending, and support ourselves so that we can provide the social programs we need to be self-sufficient.


#14

Bizarre. Obviously, Democrats already dropped “FDR’s progressive coalition” via their agenda (politics and policies) since the Clinton Dems took over the party. Consider: What came to be called AFDC was actually first included in FDR’s Social Security Act (New Deal). Dems got rid of that, ending actual welfare aid, and already took the first steps to similarly “reform” Social Security, targeting the disabled. Cuts have quietly been ongoing. As the overall life expectancy of the US poor fell below that of every developed nation, and even today’s liberals have found this to be acceptable.


#15

It gets complicated. The US today is rich vs. middle class vs. poor. From Reagan’s deregulation frenzy to Clinton taking an ax to the “safety net,” we got the agenda demanded or supported by the mainstream. The US began shipping out jobs in the 1980s, lost over 6 million manufacturing jobs alone since 2000. Nearly all of us are now 100% dependent on the corporate state – our jobs – for our survival. It’s the American masses that empowered Wall Street by any other name (the corporate state, financial and corporate powers, etc).


#16

Well, DJT may cause the revolution to be slowed a wee bit by pushing Moderate Rs like Corker, Collins, Alexander, Heller, Flake and McCain voters into a new compact with the Corporate Ds.
Schoen may be angling or expecting a 4 candidate race in the 2020 General Election. And, deeper riffs coming in the Congressional races after the 2018 crash-and-burn debacle ahead.
Steyer and Bloomberg or Cuban and ?? have the $$$ to run a powerful and effective campaign for POTUS. As the DNC seems to lean to Schoen and the Clintonista/Obamobat wing, Sanders and the Progressive/Green wing should begin looking for a Billionaire with some shared common interests, like a Steyer. After all, this was Nader’s suggestion for 2016.


#17

So you agree with Chuck Schumer, right?:

“For every blue-collar Democrat we lose in western Pennsylvania, we will pick up two moderate Republicans in the suburbs in Philadelphia, and you can repeat that in Ohio and Illinois and Wisconsin.”


#18

The system dooms the people to oligarchy dictatorship. How long will we play their game?

Direct Online Democracy


#19

Except that the citizens are not as ignorant as the DNC thinks.


#20

From the article:

But when Republicans took control of 26 state legislatures in the wave election of 2010, they passed a slew of laws making it harder to vote.

And who was head of the DNC in 2010?

Yeah, we need more of this.