Attacks on Banks, Paid For By Banks?
15th December 2014
Of course, if the Democrats want to base their 2016 campaign on anti-bank populism, they will have to deal with the fact that the financial industry contributed more money to Barack Obama’s campaigns than any industry has contributed to any candidate in the nation’s history. Why might that be? The Democratic Party is, and has been for a long time, the party of Wall Street. The congruence between the Obama administration’s policies and Goldman Sachs’s interests is almost perfect. Will Elizabeth Warren really disrupt that alliance? Or will banks fund the Democrats’ demagogic attacks on themselves? The latter, I suspect. Wall Street will assume that Warren is a hypocrite, whereas I think she is just a liar.