My party has lost its soul: Bill Clinton, Barack Obama and the victory of Wall Street Democrats [View all]

[nationalize the fed]

A former Clinton aide on how Democrats lost their way chasing Wall Street cash, and new populism the party needs

Bill Curry Salon.com Jul 27, 2014

Ralph Nader, Elizabeth Warren, Barack Obama, Bill Clinton, Cory Booker (Credit: AP/Evan Vucci/Lauren Victoria Burke/Pablo Martinez Monsivais/Stephan Savoia/Reuters/Eduardo Munoz)

1.

In 2006 the Atlantic magazine asked a panel of “eminent historians” to name the 100 most influential people in American history. Included alongside George Washington, Abe Lincoln, Mark Twain and Elvis Presley was Ralph Nader, one of only three living Americans to make the list. It was airy company for Nader, but if you think about it, an easy call.

Though a private citizen, Nader shepherded more bills through Congress than all but a handful of American presidents. If that sounds like an outsize claim, try refuting it. His signature wins included landmark laws on auto, food, consumer product and workplace safety; clean air and water; freedom of information, and consumer, citizen, worker and shareholder rights. In a century only Woodrow Wilson, Franklin Roosevelt and Lyndon Johnson passed more major legislation....

...In 1985 moderate Democrats including Bill Clinton and Al Gore founded the Democratic Leadership Council, which proposed innovative policies while forging ever closer ties to business. Clinton would be the first Democratic presidential nominee since FDR and probably ever to raise more money than his Republican opponent. (Even Barry Goldwater outraised Lyndon Johnson.) In 2008 Obama took the torch passed to Clinton and became the first Democratic nominee to outraise a GOP opponent on Wall Street. His 2-to-1 spending advantage over John McCain broke a record Richard Nixon set in his drubbing of George McGovern.

Throughout the 1980s Nader watched as erstwhile Democratic allies vanished or fell into the welcoming arms of big business. By the mid-’90s the whole country was in a swoon over the new baby-faced titans of technology and global capital. If leading Democrats thought technology threatened anyone’s privacy or employment or that globalization threatened anyone’s wages, they kept it to themselves. In his contempt for oligarchs of any vintage and rejection of the economic and political democratization myths of the new technology Nader seemed an anachronism....
http://www.salon.com/2014/07/27/my_party_has_lost_its_soul_bill_clinton_barack_obama_and_the_victory_of_wall_street_democrats/