Wall Street Dems Unveil Plans to Undermine the Progressive Movement

[Douglas Carpenter]

by David Sirota

link: http://www.workingforchange.com/blog/

"Here's a big shocker - the Wall Street wing of the Democratic Party
today announced it is beginning a new war on the grassroots elements
of the party that are demanding serious public policy changes from
the Establishment. As the Financial Times reports, Citigroup Chairman
Bob Rubin held a press conference at the Brookings Institution to
announce the formation of the so-called "Hamilton Project." After
paying lip service to various economic problems afflicting the
country, Rubin and his former Treasury colleague Roger Altman quickly
let it be known exactly what they are up to.

Here's the key excerpt:

"At a time when Democrats have become more aggressive in voicing concerns about the foreign ownership of US assets, Roger Altman, former deputy Treasury secretary under Mr Clinton, added that more inclusive economic growth could also 'blunt the political demands for protectionism'... said it was willing to take on entrenched Democratic interests, such as teaching unions. Policy papers unveiled on Wednesday proposed vouchers for summer schools..."

There it all is. First there's the dishonest name-calling aimed at those courageous Democrats who are challenging the free trade orthodoxy that is destroying the lives of millions of American and foreign workers. Then there is the promise of an ensuing attack on the labor movement - a reflexive move, of course, for a bunch of corporate executives. And finally, the nod to efforts to defund public education through "vouchers." "


For the full post, go to http://www.workingforchange.com/blog

[marmar]

1. This is sickening.

Es el tiempo por una revolucion. The corporatists control both major parties.

:cry:

[adigal]

2. I just said to my wingnut teaching colleagues

that they had better keep an eye on their health insurance, pension and promise for health insurance for their whole life, because their right wing buddies, Hannity and Limbaugh, were gunning for us. I have heard them say, over and over, how Unions have destroyed the economy and the car industries, and how we need to get rid of unions.

Talk show hosts, and my colleagues, have no clue what Unions have done for the middle class, or maybe they do, but don't care. But that teachers support these evil union-haters is astounding to me.

[Trillo]

3. Citigroup. They were involved somehow with the Enron collapse.

http://www.google.com/search?hl=en&lr=&safe=off&c2coff=1&as_qdr=all&q=+citigroup+corruption&btnG=Search

[MissWaverly]

4. They can posture all they want, their power gig is kaput

Massachusetts just passed a bill for health coverage for all of its people, the genie is out of the bottle, and all their ownership fatcat fandango dancing around the issues is not going to keep them at the trough at the expense of a hurting country. The country is on the
move and it is angry.

[Larkspur]

24. This bill is deceptive. It punishes people who don't get health insurance

Those that pay taxes would face an increase in taxes and the tax forms are going to require the tax payer to inform the state of which health insurance plan he/she is under.

[acmejack]

5. Unfortunately this is the type of party that many here desire

Why, I have no earthly idea. I have been in many a bloody debate over this, the progressive path is not for a large percentage of the members of this particular board. In fact progressives have been being invited to leave/being banned lately for some reason.

[bananas]

6. It will get worse as November approaches

[papau]

7. I do not see the spin that Sirota sees - it seems like a good set of goals

http://msnbc.msn.com/id/12171042/


What is wrong with a focus the problem of fiscal imbalances in trade and in our budget?

What is wrong with a focus the problem of rising income inequality and the fact that public policy that benefits a select few sucks?

What is wrong with a non-partisan group, even one with Wall Street executives and academics, that is dominated by Democrats? Indeed the Hamilton Project will be based at the Brookings Institution, a liberal think-tank, and will will be run by Peter Orszag, an economist and senior fellow at Brookings.

Is the fact that they defend open competition and trade a kiss of death for any proposal they make because a pro-trade position is a guarantee that any of their proposals will be put out so as to "Undermine the Progressive Movement"?

[K-W]

13. It isnt really spin, there is a real rift in the party here.

And he didnt say there was anything wrong with focusing on problems of fiscal imbalanaces or rising inequality. He explained his criticism which is that the group has expressed its willingess to take on the grassroots of the party who are described as protectionists.

What is wrong with a group of corporate executives and think-tank academics attempting to drive the economic policy of the Democratic party, to Sirota's mind and mine, the problem is that Washington elite that makes up the parties leadership should be representing the grass roots, not taking it on.

[papau]

16. I agree-but I view that as a difference of opinion that can be compromised

His phrase "take on" was a poor choice of words - at least I hope that is all it was.

:-)

[K-W]

18. There isnt always a compromise.

There is no compromise between cutting social spending and raising it for instance.


His phrase "take on" was a poor choice of words - at least I hope that is all it was.

Why is it a poor choice of words? It is entirely accurate. If Rubin and his cohorts are going to fight for 'entitlement' reform, reforming tenure, school vouchers, and free market globalization, they will literally be taking on the base of the party.

[Demeter]

20. Then They Can Just Go Hang Out With Abramoff and DeLay and Bush

Honestly, what's wrong with these fools? Too proud to admit they're GOP to the bone? Too high-society to mix it up with the Fundies? If they won't leave, we will have to throw them out, and the horse they rode in on.

[no_hypocrisy]

8. Seems that Squealer and Napoleon are still alive and well.

I would expect this antagonism from the loyal opposition, not from within the democratic party.

[rateyes]

9. Republicans in

Dem clothing. All this does is help keep Repigs in power. Pissing off your base is NOT good strategy in winning elections. The ONLY damned reason I keep pulling the lever from my Congressman (Jim Marshall) is that he has a (D) beside his name. But, if he aligns with this bunch, then he can kiss my rosy red ass before I would ever vote for him again. He's already too much of a Zell Miller wannabe for me, but dammit, I want control of Congress again. But, if he's gonna keep voting with Republicans......damn. Just damn.

[lostnfound]

17. It's a good strategy for elections

if you want to get the other party elected!
And also if you want to be the 'plan B' if you're conservative and case your favored other party doesn't get elected.

[The Backlash Cometh]

10. Look at it this way, light is being shed on them and they're exposed

like never before. We've outed the Lieberman pro-Israel Lobby Dems, and now we realize that there are Wall Street Dems. Maybe there's some overlap there.

[laststeamtrain]

11. Economic royalists = Economic war criminals. What's needed is...

...a new New Deal. Who has the poilitical will? Not these corporatists.

From Franklin Delano Roosevelt's June 27, 1936 "Acceptance Speech for the Democratic Nomination for President":

"For out of this modern civilization economic royalists carved new dynasties. New kingdoms were built upon concentration of control over material things. Through new uses of corporations, banks and securities, new machinery of industry and agriculture, of labor and capital - all undreamed of by the Fathers - the whole structure of modern life was impressed into this royal service.

There was no place among this royalty for our many thousands of small-businessmen and merchants who sought to make a worthy use of the American system of initiative and profit. They were no more free than the worker or the farmer. Even honest and progressive-minded men of wealth, aware of their obligation to their generation, could never know just where they fitted into this dynastic scheme of things.

It was natural and perhaps human that the privileged princes of these new economic dynasties, thirsting for power, reached out for control over government itself. They created a new despotism and wrapped it in the robes of legal sanction. In its service new mercenaries sought to regiment the people, their labor, and their property. And as a result the average man once more confronts the problem that faced the Minute Man.

The hours men and women worked, the wages they received, the conditions of their labor - these had passed beyond the control of the people, and were imposed by this new industrial dictatorship...."

http://blogcritics.org/archives/2004/01/07/194018.php

[bloom]

12. "...None of this is surprising, of course..."

"...None of this is surprising, of course. As head of Citigroup, Rubin has a financial interest in the agenda he's pushing. And he's made no apologies for the brazenness with which he pushes his corporatism. Remember, it was Rubin during the debate over the Central American Free Trade Agreement who demanded that congressional Democrats back off their efforts to include labor, human rights and environmental protections in the pact. He and his pals are the same people who rammed trade deals like NAFTA, WTO and China PNTR down the throats of Americans, and then left government service for the high life of the corporate boardroom..."

[K-W]

14. Some Alexander Hamilton Quotes

It has been observed that a pure democracy if it were practicable would be the most perfect government. Experience has proved that no position is more false than this. The ancient democracies in which the people themselves deliberated never possessed one good feature of government. Their very character was tyranny; their figure deformity.


A national debt, if it is not excessive, will be to us a national blessing.


http://findquotations.com/quote/by/Alexander_Hamilton

[msgadget]

15. UGH, no wonder they chose him

They're free traders. Everything Rubin championed has hurt the majority of the United States workers, not just the progressives he now threatens. So-called moderates think Clinton and his gang are actually standing on some middle ground between liberal and conservative fiscal policy when the opposite is true. They have THE conservative mindset that says human and labor rights do not enter into economic equations. Where a sacrifice is required, it is always the disposable human element.

I heard Robert Reich on NPR today propose that corporations with huge profits give their workers raises that they put into 401(k) plans for them. The corporations are using profits so this wouldn't hurt profits plus they'd get a tax break on a portion of the contributions to sweeten the deal and, voila, the 'problem' of Americans not saving is solved. Note his primary concern - profits - and that the 'raise' goes not into the hands of the employee but into an investment vehicle (helloooo, Mr. Rubin). Sure seems like it addresses the issue of stagnant wages and low savings but it doesn't do a damned thing to improve the employee's standard of living, nor was it intended to. This is smoke and mirrors. They're ALL business, these guys, but some of them like Reich have that knack of persuading people theyr'e championing the populist's cause. That's not true. There is but one economic track in this country and both parties are on it.

[yurbud]

19. End of article: Barack Obama thinks it's a good idea

Barack Obama, a Democrat senator from Illinois, welcomed the initiative as a way of transcending "tired ideologies".

[K-W]

21. Yes, and he seems to be hitting thier talking points.

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=364&topic_id=838890&mesg_id=838890

[sadiesworld]

22. We should have two new parties...

the Globalists and the Populists. It would be a hell of a lot more honest than what we have now.

[KoKo]

23. Ain't that the TRUTH!

:-(

[gizmo1979]

25. We have dems on Wallstreet?

Who knew?