A Deepening Democratic Party Divide

[eridani]

http://www.nationofchange.org/2015/04/03/a-deepening-democratic-party-divide/

On the presidential campaign trail, Hillary Clinton has been promoting standard pro-middle class rhetoric, yet also has been raking in speaking fees from financial firms. One of her potential primary challengers, former Maryland Gov. Martin O’Malley, has been sounding anti-Wall Street themes, but only after finishing up two terms in office that saw his state plow more public pension money into Wall Street firms, costing taxpayers hundreds of millions of dollars in financial fees.

Similarly, in Washington, the anti-Wall Street fervor of those such as Massachusetts Sen. Elizabeth Warren sometimes seems as if it is on the ascent — that is, until big money comes calling.

Indeed, on the very same day Reuters reported on big banks threatening to withhold campaign contributions from Democratic coffers, Democratic lawmakers abruptly coalesced around Charles Schumer as their next U.S. Senate leader. CNN captured in a blaring headline how unflinching an ally the New York senator has been to the financial elite: “Wall Street welcomes expected Chuck Schumer promotion.” Notably, Democrats appeared ready to promote Schumer over Assistant Democratic Leader Dick Durbin, who once dared to publicly complain that “banks frankly own” Capitol Hill.

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“We’ve put every Democrat in America on notice that there’s a political price to pay for putting the demands of hedge-fund billionaires ahead of the needs of working families,” said Kristen Crowell, executive director of the grassroots Chicago group United Working Families, a sister organization of New York’s progressive Working Families Party.

As perplexing as the Democratic Party’s divide is, Crowell’s straightforward statement rings true. National Democratic politicians may not yet be hearing the message, but if they hope to hang onto power, they probably should start listening.