{"id":8076,"date":"2018-03-14T10:50:00","date_gmt":"2018-03-14T17:50:00","guid":{"rendered":"http:\/\/occupysf.net\/?p=8076"},"modified":"2018-03-14T10:50:21","modified_gmt":"2018-03-14T17:50:21","slug":"democrats-fooling-themselves-to-think-wall-street-giveaway-will-bolster-2018-chances-progressives-warn","status":"publish","type":"post","link":"https:\/\/occupysf.net\/index.php\/2018\/03\/14\/democrats-fooling-themselves-to-think-wall-street-giveaway-will-bolster-2018-chances-progressives-warn\/","title":{"rendered":"Democrats &#8216;Fooling Themselves&#8217; to Think Wall Street Giveaway Will Bolster 2018 Chances, Progressives Warn"},"content":{"rendered":"<div id=\"field-wrapper-attribution\" class=\"field-wrapper content-container clearfix inline-fields\">\n<div class=\"field field--name-field-article-date field--type-datestamp field--label-hidden\">\n<div class=\"field__items\">\n<div class=\"field__item even\"><span class=\"pb-timestamp\"><span class=\"date-display-single\">March 13, 2018\u00a0<\/span><\/span>by <a href=\"https:\/\/www.commondreams.org\/\" target=\"_blank\" rel=\"nofollow noopener\">Common Dreams<\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"field field--name-field-subtitle field--type-text-long field--label-hidden\">\n<div class=\"field__items\">\n<div class=\"field__item even\">\n<div>\n<h4>&#8220;The Democratic senators preparing to vote for this thing are either Wall Street toadies or complete political naifs.&#8221;<\/h4>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div id=\"field-wrapper-authors\" class=\"field-wrapper content-container clearfix inline-fields\">\n<div class=\"grouping-prefix\">by\u00a0<span class=\"pb-byline\"><a href=\"https:\/\/www.commondreams.org\/author\/jake-johnson-staff-writer\" target=\"_blank\" rel=\"nofollow noopener\">Jake Johnson, staff writer<\/a><\/span><\/div>\n<\/div>\n<div id=\"shr_canvas2\" class=\"shareaholic-canvas shareaholic-ui shareaholic-resolved-canvas ng-scope\" data-app-id=\"6840204\" data-app=\"share_buttons\" data-title=\"Democrats 'Fooling Themselves' to Think Wall Street Giveaway Will Bolster 2018 Chances, Progressives Warn\" data-link=\"https:\/\/www.commondreams.org\/news\/2018\/03\/13\/democrats-fooling-themselves-think-wall-street-giveaway-will-bolster-2018-chances\" data-summary=\"\">\n<div class=\"ng-scope share_buttons\" translate=\"no\">\n<div class=\"shareaholic-share-buttons-container shareaholic-ui no-print flat block horizontal mini\">\n<div class=\"shareaholic-share-buttons-wrapper shareaholic-ui\">\n<div class=\"shareaholic-share-buttons-animation-wrapper\">\n<div class=\"shareaholic-share-buttons-heading custom\">\n<div class=\"ng-binding ng-scope\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"discourse-comments-link\"><\/div>\n<div class=\"field field--name-field-article-img field--type-image field--label-hidden\">\n<div class=\"field__items\">\n<div class=\"field__item even\">\n<div><img decoding=\"async\" loading=\"lazy\" class=\"caption-processed\" src=\"https:\/\/www.commondreams.org\/sites\/default\/files\/styles\/cd_large\/public\/headlines\/gettyimages-8871543962.jpg?itok=CR9Y_NQ8\" alt=\"\" width=\"955\" height=\"500\" \/><\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"field field--name-field-main-caption field--type-text-long field--label-hidden\">\n<div class=\"field__items\">\n<div class=\"field__item even\">\n<p><em>&#8220;Montanans and North Dakotans aren&#8217;t itching to let bankers sell toxic mortgages again. In fact, if anything binds most Americans together, it&#8217;s their mutual hatred of the banks,&#8221; observed\u00a0The Week&#8217;s Jeff Spross. (Photo: Drew Angerer\/Getty Images)<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"field field--name-body field--type-text-with-summary field--label-hidden\">\n<div class=\"field__items\">\n<div class=\"field__item even\">\n<div>\n<p>&nbsp;<\/p>\n<p>Do Democrats actually believe that rewarding Wall Street will help them win re-election?<\/p>\n<p class=\"pullquote\">&#8220;There&#8217;s no way that any vote in a red state or a blue state that supports Wall Street like this is a benefit at the polls.&#8221;<br \/>\n\u2014Charles Chamberlain, Democracy for America<\/p>\n<p>That key question has been asked with growing frequency in recent days as a relatively large faction of centrist Democrats\u2014led by Sens. Tim Kaine (D-Va.) and Heidi Heitkamp (N.D.)\u2014has partnered with Republicans in the Senate to advance a deregulatory bill denounced by progressive lawmakers and independent commentators as a giveaway to massive banks and a\u00a0<a href=\"https:\/\/www.commondreams.org\/news\/2018\/03\/06\/charade-over-cbo-reveals-democrat-backed-bill-really-just-big-gift-wall-street\">possible catalyst<\/a>\u00a0for the next financial meltdown.<\/p>\n<p>Robert Borasage, co-founder of Campaign for America&#8217;s Future (CAF),\u00a0<a href=\"http:\/\/thehill.com\/homenews\/senate\/378038-dem-unity-shatters-with-debate-on-banks\">argued<\/a>\u00a0in an interview with\u00a0<em>The Hill<\/em>\u00a0Tuesday that the final vote this week on the bank measure (<a href=\"https:\/\/www.congress.gov\/bill\/115th-congress\/senate-bill\/2155\">S.2155<\/a>) will be a &#8220;very significant thing, both symbolically and in substance.&#8221;<\/p>\n<p>As the GOP-crafted bill has sailed through the Senate,\u00a0<a href=\"https:\/\/www.wsj.com\/articles\/senate-banking-bill-exposes-democratic-rifts-1520847001\">much of the media coverage<\/a>\u00a0has framed Democratic support for the legislation as pragmatism on the part of red-state senators facing tough re-election bids in 2018.<\/p>\n<p>But progressives argue that any vote to relieve Wall Street will harm, not help, Democrats&#8217; chances\u2014and\u00a0<a href=\"http:\/\/ourfinancialsecurity.org\/wp-content\/uploads\/2018\/02\/FINAL-NationalPollingMemo.pdf\">new polling data<\/a>\u00a0(pdf) bolsters this view.<\/p>\n<p>&#8220;There&#8217;s no way that any vote in a red state or a blue state that supports Wall Street like this is a benefit at the polls,&#8221; Charles Chamberlain, executive director of Democracy for America, told\u00a0<em>The Hill<\/em>. &#8220;When you have a [Democratic Sen.]\u00a0<span class=\"rollover-people\" data-behavior=\"rolloverpeople\"><a class=\"rollover-people-link\" href=\"http:\/\/thehill.com\/people\/jon-tester\" data-nid=\"188192\">Jon Tester<\/a>\u00a0<\/span>in Montana that votes in the wrong way on an issue like this, he&#8217;s hurting his chances for reelection, he&#8217;s not helping.&#8221;<\/p>\n<p>On Monday, 16 Democrats and Sen. Angus King (I-Maine)\u00a0<a href=\"https:\/\/www.senate.gov\/legislative\/LIS\/roll_call_lists\/roll_call_vote_cfm.cfm?congress=115&amp;session=2&amp;vote=00050\">voted with the GOP to end debate<\/a>\u00a0on the deregulatory measure\u2014labeled the &#8220;Bank Lobbyist Act&#8221; by Warren and other progressive opponents\u2014effectively ensuring its passage later this week.<\/p>\n<p class=\"pullquote\">&#8220;The Democratic senators preparing to vote for this thing are either Wall Street toadies or complete political naifs.&#8221;<br \/>\n\u2014Jeff Spross,\u00a0<em>The Week<\/em><\/p>\n<p>As CAF&#8217;s Richard Eskow\u00a0<a href=\"https:\/\/ourfuture.org\/20180313\/these-dems-got-24-million-from-banks-before-backing-a-pro-banker-pro-discrimination-bill?link_id=1&amp;can_id=ee3996851b34a6721983455fb4ccf5de&amp;source=email-progressive-breakfast-the-24-million-reasons-dems-back-americas-worst-banks&amp;email_referrer=email_316798&amp;email_subject=progressive-breakfast-the-24-million-reasons-dems-back-americas-worst-banks\">observed in an article on Tuesday<\/a>, &#8220;These 16 Democrats have collectively received $24,488,961 in campaign contributions from savings and investment firms and commercial banks.&#8221;<\/p>\n<p>While Kaine and other corporate Democrats have attempted to insulate themselves from criticism by introducing amendments ostensibly aimed at improving the bill&#8217;s enforcement provisions,\u00a0<em>The Intercept<\/em>&#8216;s Dave Dayen\u00a0<a href=\"https:\/\/theintercept.com\/2018\/03\/12\/tim-kaine-democrats-offer-last-minute-pretend-defense-of-fair-lending-laws-as-they-prepare-to-weaken-them\/\">argues<\/a>\u00a0that these proposed changes are &#8220;pretend&#8221; fixes, given that Kaine openly admitted he will not fight for the changes.<\/p>\n<p>&#8220;I don&#8217;t need my amendment to pass,&#8221; Kaine told a reporter on Monday. &#8220;I think the bill is solid as it is.&#8221;<\/p>\n<p>According to a\u00a0<a href=\"http:\/\/ourfinancialsecurity.org\/wp-content\/uploads\/2018\/02\/FINAL-NationalPollingMemo.pdf\">survey<\/a>\u00a0(pdf) published last month by Public Policy Polling, most Americans are likely to disagree with Kaine&#8217;s assessment. Most voters, including most Republicans, are far less likely to vote for a candidate who supports deregulating big banks, the poll found.<\/p>\n<p>&#8220;Montanans and North Dakotans aren&#8217;t itching to let bankers sell toxic mortgages again. In fact, if anything binds most Americans together, it&#8217;s their mutual hatred of the banks,&#8221;\u00a0<a href=\"http:\/\/theweek.com\/articles\/760361\/insanity-redstate-democrats-big-bank-bipartisanship\">observed<\/a>\u00a0<em>The Week<\/em>&#8216;s Jeff Spross on Tuesday. &#8220;The Democratic senators preparing to vote for this thing are either Wall Street toadies or complete political naifs. I leave it to readers to decide which is more likely. And which is worse.&#8221;<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div id=\"field-wrapper-cta-change\" class=\"field-wrapper content-container clearfix\">\n<div class=\"content-prompt clearfix\">\n<div class=\"slim-header-content\" style=\"box-sizing: border-box;\" data-cta-slim-header=\"&lt;i class='fa fa-info-circle'&gt;&lt;\/i&gt; &lt;strong&gt;Did you find this article useful? &lt;\/strong&gt; Support our journalism.&lt;a href='https:\/\/secure.actblue.com\/donate\/free-and-independent?refcode=winter18_cta2' target='_blank' class='btn text-center'&gt;Donate Today&lt;\/a&gt;\"><\/div>\n<\/div>\n<\/div>\n<div id=\"field-wrapper-copyright-cond\" class=\"field-wrapper content-container clearfix\">\n<div class=\"field field--name-field-copyright field--type-text field--label-hidden\">\n<div class=\"field__items\">\n<div class=\"field__item even\"><em>This work is licensed under a Creative Commons Attribution-Share Alike 3.0 License<\/em><\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>March 13, 2018\u00a0by Common Dreams &#8220;The Democratic senators preparing to vote for this thing are either Wall Street toadies or complete political naifs.&#8221; by\u00a0Jake Johnson, staff writer &#8220;Montanans and North Dakotans aren&#8217;t itching to let bankers sell toxic mortgages again. In fact, if anything binds most Americans together, it&#8217;s their&#8230; <a class=\"continue-reading-link\" href=\"https:\/\/occupysf.net\/index.php\/2018\/03\/14\/democrats-fooling-themselves-to-think-wall-street-giveaway-will-bolster-2018-chances-progressives-warn\/\"> Continue reading <span class=\"meta-nav\">&rarr; <\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts\/8076"}],"collection":[{"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/comments?post=8076"}],"version-history":[{"count":2,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts\/8076\/revisions"}],"predecessor-version":[{"id":8078,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts\/8076\/revisions\/8078"}],"wp:attachment":[{"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/media?parent=8076"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/categories?post=8076"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/tags?post=8076"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}