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The Crass Warfare of Billionaires Against Sanders and Warren

Re. "…Wall Street and in big business are preparing to sit out the presidential campaign fundraising cycle—or even back President Donald Trump—if Sen. Elizabeth Warren wins the party’s nomination.

With no apologies, Mr. Solomon, I don’t quite believe this. Oh, some of the billionaire class are no doubt saying this, and I have no illusion that the class in general would choose Warren if any other winnable alternatives (save Bernie) exist.

Yet I believe she serves two purposes for this class. First, to try to keep Sanders at bay. It’s rather clear to me that if Warren were NOT running, Sanders would by now have a substantial lead on the entire rest of the field. Her role in this regard is to assure that the nomination is contested all the way to the Convention and a second-round vote - where the Super(ior)delegates will determine the nominee under the “reform” that the DNC adopted. In that case, the nomination would likely go to Biden, if he isn’t too badly tarnished by then (and MSM is clearly avoiding talking at all about the apparent corruption involved in his Ukrainegate dealings).
Second, if Biden is by then too tarnished to be in the top 3, Warren would be seen as a far less-threatening figure to the interests of organized private capital; and she has the advantage of appealing to liberals who think themselves progressive but still are driven largely by desire for a female to break through this glass ceiling.

Sure, she’d push for some further regulations, maybe some higher taxes; but she is as she has always said, an avowed cheerleader and defender of “markets”. And while some of her stances have been unpopular among certain industry sectors (think the role of CFPB, for example), in general they know well that she will not do anything to seriously harm their bottom lines.

I have very little faith that for example, she’d push for turning health care control away from private insurance industry… something she herself has suggested in saying she’s “open to other alternatives” (to M4A). And she would certainly not deprive the vast Military-Industrial-Spook complex of their excessive hauls; and that means she’d certainly affirm continuation of our imperialism & militarization across the globe. Those are just some of the logical outcomes when one places so much value in “the markets” that she joined the GOP particularly because she believed they were the ones who best served them.

None of this is to say that Warren hasn’t perhaps some sympathy with some progressive aims. Yet my suspicion is that, based no her rather come-lately adoption of many of Sanders’ policies, her movement to the left is a short-lived tack that will be quickly readjusted when the winds no longer require it, and perhaps a strategy to divide the progressively-liberal vote and at least keep Sanders out.

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In the class warfare it is easy to forget the “useful idiot” class. It’s not really just the 99% vs the 1%. The 1% make sure to hire staff who will worship them and work very hard to protect their financial interests. That’s another 20% or so. So it’s really the 21% vs the 79%.

Warren comes from the 20% useful idiots. She wasn’t born rich but made it into the 20% by going to law school and later as a white Republican female lawyer (getting special treatment for her fake native ancestry) she became a bankruptcy legal expert working often for the corporate side in court proceedings. Corporations are primarily protecting their investors interests in court proceedings against the interests of preserving worker’s pensions, accrued vacation pay or other deferred compensation.

That’s where she gets her “I’m Capitalist to my bones” stance. It really is because she has defended investor=capitalist interests her adult working life. As head of the TARP oversight committee, she never complained that the banking bosses were keeping their jobs and bonuses or that the bailout funds were going to the creditors instead of the debtors (to write down debts). She also ignored criticism for creating the CFPB to report into the Federal Reserve which in turn can choke the funding for the CFPB and that the CFPB is run with total autonomy / whims of the head of the agency chosen by the ruling party in the white house and Senate with little transparency.


Sanders is the only class warrior in this picture. The moneyed class (a.k.a. the capitalists) have weaponized money to garner control over workers. As Warren Buffet put it … “we didn’t start the class war but we are definitely winning it.”

Warren has been friends of the big bankers and gave them a free pass as head of the TARP oversight committee. Her CFPB creation under the Federal Reserve has been useless to stop housing prices from skyrocketing in coastal cities since 2012 or stop the nearly 5 million foreclosures and another 5 million pre-foreclosures since 2008.

Ellen Brown has created a real alternative to the TBTF banks with her promotion of public banks. The Federal Reserve will soon be in a position to block those banks and we need Sanders in the Whitehouse to make sure we don’t get a crappy Fed chair.

Warren is not that much into controlling income inequality. Warren recently was interviewed by Amy Goodman and said that she thinks billionaires should not be hated for their success / good ideas. Her words were pretty much the same as Jamie Dimon’s (head of JP Morgan Chase).

Thanks – things I didn’t know about Warren –

Certainly Obama did separate Warren from her the agency she fought to create
by not appointing her to head up the CFPB –
and didn’t know about the Fed connection, either.

What is missing from this piece is why working class folks vote for Republicans. Jonathan Haidt in his book “The Righteous Mind” says people like order and hierarchy sometimes more than they care for equality and social justice,

Mr Solomon please read.