Populists Press Democrats to Ease Clinton-Era Embrace of Bankers

[RiverLover]

Populists Press Democrats to Ease Clinton-Era Embrace of Bankers
12/19/14



When populist Democrats such as Senator Elizabeth Warren complain about the consequences of Wall Street influence on government policy, here’s what they mean:

Since the March 2009 depths of the credit crisis, the KBW Bank stock index, which includes the nation’s largest financial companies, has gained 297 percent. During that same period, workers’ inflation-adjusted average hourly earnings have actually fallen.

Warren’s anti-bank revolt -- which almost derailed a government spending bill and may yet cost investment banker Antonio Weiss a top Treasury Department job -- signals a widening split among Democrats over economic policy.

We’re seeing the same sort of division in the Democratic Party now that we saw throughout the 1980s,” said Stuart Rothenberg, a political analyst. “Between the Clinton pragmatists and the ‘true believers.’”

Even if Warren doesn’t challenge presumed Democratic presidential frontrunner Hillary Clinton, the former Harvard professor’s popularity among the grass-roots threatens the continuation of the business-friendly policies that originated two decades ago with Robert Rubin, a former Goldman Sachs (GS:US) and Citigroup executive who served as Treasury secretary. ...

http://www.businessweek.com/news/2014-12-19/populists-press-democrats-to-ease-clinton-era-embrace-of-bankers

[tk2kewl]

1. Ease embrace?

How about prosecute?

[RiverLover]

2. They should be in jail. Just as an aside, here's an interesting ex of how some people interpret

criticism of Obama.

We say he isn't liberal enough, too cozy with big banks, so simpletons think that~

I see ^^^ here sometimes.

[Scuba]

3. Spin alert! "Clinton pragmatists" vs. "True Believers".

[RiverLover]

4. True. "pragmatist" or "centrist" is code for rethug lite/rethug/DINO third way. nt