Relevant and even prescient commentary on news, politics and the economy.

ANTITRUSSSSST! (Dear Hillary: In a well-received economics-themed speech in Toledo on Monday, you mentioned ANTITRUST LAW and ARBITRATION CLAUSES. Please, please do so also at Sunday’s debate.)

Clinton also said she would push for new steps to crack down on “forced arbitration” fine print that prevents workers and consumers from suing companies, proposals aimed at reducing market concentration and increasing competition, and curbing tax rules that gave corporations and the super-wealthy, like Trump, tax breaks not available to ordinary taxpayers.

After Trump’s tax-return leak, Clinton accuses him of protecting a ‘rigged system’, Abby Phillip and David Weigel, Washington Post, Oct. 3

Yes, Monday was economic-policy day for the Clinton campaign.  Tuesday was, well, not.  And while Tim Kaine is taking the brunt of the criticism for that, he is not the one who made that decision.  Clinton and her campaign gurus are.

Abby Phillip reported last night in a blog post titled “Clinton debate prep is focused on what happens once the debate is done”:

Sen. Tim Kaine may have awakened Wednesday to poor reviews after the first and only vice-presidential debate, but his acerbic performance in Farmville, Va., revealed that the Clinton campaign’s strategy for these debates extends far beyond the stage.

Armed with pre-planned Web videos, television ads and tweets, the campaign has used key debate moments this week and last as a cudgel against the Republican ticket, showing a level of discipline and organization largely absent from Donald Trump and Indiana Gov. Mike Pence’s campaign.

“Kaine had a very clear and simple plan for the debate: remind a national televised audience of all of the offensive things Trump has said and done in this campaign,” said Dan Pfeiffer, a former senior adviser to President Obama. “The Clinton campaign was smart enough to know that who ‘wins’ or ‘loses’ the VP debate doesn’t move votes. Instead it’s an opportunity to communicate a message to a very large audience.”

“I don’t see a single thing that Pence did that moved the needle for Trump in any way,” he added.

Both Hillary Clinton and her running mate showed up on their respective debate nights well rehearsed. At moments, they seemed over-rehearsed. At one point Tuesday, Pence shot back at Kaine: “Did you work on that one a long time? Because that had a lot of really creative lines in it.”

But Clinton and Kaine had a larger goal in mind than winning the debates themselves: to create a series of compelling sound bites that they planned to weaponize for the reminder of the campaign. They logged scores of hours of preparation. They recited laundry lists of Trump’s faults. Their clear objective: to record him and his running mate embracing, denying or evading controversial positions that Trump has taken in recorded speeches.

That pattern is likely to continue Sunday at the next presidential debate, Democrats said.

“[Pence] claimed over and over and over again — he claimed, ‘He never said those things!’ ” exclaimed conservative radio host Glenn Beck on Wednesday. “We’re not living in the 1800s. We can go back to the clips on YouTube.”

And that’s exactly what the Clinton campaign did. Shortly after the debate Tuesday, the Clinton campaign tweeted out a glossy new site at hillaryclinton.com/literallytrump. The site highlighted dozens of moments “mentioned at the debate,” most of them by Kaine, with citations to back them up and the “share” button never too far away.

By Wednesday morning, a new video was blasted: a 90-second super-cut of Pence’s denials.

Here’s the problem with that strategy: It’s only half of what the Clinton strategy should be.

The other half?  Illustrating that on his fiscal, economic, and regulatory policy agenda—all of it intricately related—Trump and Pence are exactly the same.  It’s a Mercers/Kochs/Tea Party agenda.  Yet Kaine at the debate—at the orchestration of the Clinton campaign’s strategists—allowed Pence to get away with the more important of the Trump campaign’s two new lines.

The less-important line was the one that everyone knows is preposterous: that it is Clinton rather than Trump who is running a campaign based on insults.  Greg Sargent, linking to a Washington Post video clip of Trump’s rally in Nevada yesterday, writes this morning:

A new, self-effacing version of Donald Trump appeared on the campaign trail late yesterday. In Nevada, Trump said this:

“A vote for me is a vote for change, and common sense, and a strong military, and great veterans’ care, and Second Amendment rights, and good health care….But it’s also a vote directly for you. Because I am a reflection of you.

“You’re voting as people who believe in yourselves. You are voting to believe in your future. You are voting to believe in your great country. All together, we are going to make our country wealthy again….And we are going to make America great again.”

“This isn’t about me, it’s about you” is standard political boilerplate, of course. But in Trump’s case, it may signal a closing strategy.

The Post titled that video clip “Trump to supporters: ‘I am a reflection of you.”  And this time he wasn’t talking only about those who are in the basket of deplorables.

He also wasn’t talking about those who wouldn’t be assisted by the tax policy drafted for him at the Mercer-funded Heritage Foundation, nor to those who would be forced to make up some of the lost income and estate tax revenue in order to pay for the massive buildup in military defense and border security (among other things).  Although he, like Pence on Tuesday night, was claiming that is the “you” who he is talking about, and talking to.

I’ve written two or three posts here at AB in the last few months in which I’ve pleaded with Clinton to discuss antitrust law and also forced-arbitration clauses.  Antitrust law is the more important of the two, and truly implicates the very workings of the larger economy.  In a post several months ago, I recalled that it was a regular part of Bernie’s stump speech, and mentioned an article from back in the summer of 2015 in which the reporter sat not in the press section but instead amongst the crowd at a yugely enthusiastic rally in Iowa and reported that the young woman with long blond hair sitting next to him would rise from her seat and, cheerleader-like, punch the air to shout one or another subject line that Sanders was mentioning—and that one of those things was: ANTITRUSSSSST!!

But forced-arbitration clauses in consumer, employment, securities, mortgage and other loan, and various other types of contracts—as the Supreme Court, in a series of 5-4 opinions, has rewritten (er, “interpreted”) the Federal Arbitration Act to permit in breathtakingly sweeping form, also is important.

The two subjects, along with labor-law issues and campaign-finance law, get at the very heart of what so much of the public means when they say they want change: they want a major recalibration between the profoundly powerful and everyone else.  They want to regain some real power over the private and public institutions that have such a stranglehold on life in this country.

That’s what Bernie understood, and his policy proposals reflected that, and to the extent that they are incorporated into the Democratic Party platform, they still do. Trump understands this, too, and that’s why there has been that other basket—the one without the deplorables.

Trump began his campaign as both a racist and xenophobe and an economic populist.  But last October, in an attempt to fend off a threatened torrent of Koch spending to try to kill his campaign, he quietly switched to Paul-Ryan-on-steroids on fiscal and financial-industry-regulatory matters.  And when not long after that, after the Kochs made clear their continued hostility toward Trump’s candidacy, the hedge-fund-billionaire father-daughter duo Robert and Rebekah Mercer took up the slack.

And then some.

I had expected, naively, before Tuesday that Kaine would get this across at the debate, especially in the wake of the Trump 1995 tax return publication and its (momentarily, I guess) resulting attention to Trump’s tax plan.  And also because Pence is Paul Ryan with gray hair.

I had thought, although it was only wishful thinking, that Clinton and her campaign actually finally recognized that millennials, Rust Belt blue collar voters, and middle-class suburbanites all would be as repelled by Trump’s Heritage Foundation fiscal-and-regulatory-policy agenda.  And that, contrary to what Clinton clearly had believed throughout her campaign from its inception, middle class suburbanites, in large numbers—including many independents and moderate Republicans, like most of the genuinely progressive fiscal and regulatory agenda that Sanders had forced into the party platform.

But I was wrong. Clinton believes, apparently inalterably,  that moderate suburbanites, millennials and racial minorities care only about Trump’s racism, xenophobia, misogyny, vulgarity and such—and his obvious mental instability, which is why reportedly internal polling by both Trump’s and Clinton’s campaigns are showing an en masse movement toward Clinton among independents and moderate Republicans, and third-party-candidate-fan millennials in the last week—more so than the public polls are showing.

But Clinton could wrap this up and tie a bow on it—and significantly help Dem Senate and maybe even House candidates—if she talks about what she talked about on Monday in Toledo.

I also want to say this: For me, what mattered a lot about that speech was that she ventured away from the usual and discussed—mentioned and explained—two tremendously important aspects of the economic-power status quo in the current age: massive consolidation of, and massive control over the legal system by, large corporations, hugely increasing the power of mega-corporations over small and midsize businesses and individuals.

And a big part of what mattered to me is that Clinton trusted that her audience would understand what she was talking about, even though these things required some explanation.

Finally, I want to note that the Phillip and Weigel piece I quoted from above was the only report among the (I believe) three I read about Clinton’s Toledo rally that noted her mention of antitrust and forced-arbitration-clause law.  Neither the NYT report nor Politico did.

I’ve said a couple of times recently that in my opinion the Washington Post’s campaign coverage throughout the primaries and general election campaign has been far superior to any other that I’ve read.  I’ve mentioned John Wagner, who covered Bernie’s campaign and now helps cover Clinton’s, for its straight and thorough reporting on campaign events.  Jenna Johnson’s reporting and David Weigel’s as well have been terrific.  And then there is David Fahrentold’s Pulitzer-caliber investigative reports on the Trump Foundation.

As of right now I expect Clinton to win reasonably comfortably.  But she can win with a fairly clear mandate for the types of change that the Dem platform proposes, if she campaigns on them and—relatedly—on the specifics of Trump’s, and Ryan/Pence’s, actual fiscal and regulatory agenda.

As for Tim Kaine, my heart sort of goes out to him.  And the way that Clinton can make it up to him is not by claiming that he did great at the debate, but instead by pointing out this: Mike Pence built his name as a far-right but studiedly-smooth talk-radio host.  Tim Kaine built his career as a civil rights lawyer.

This matters.  And it favors Kaine, not Pence.

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Imagine a Dem VP nominee who can speak with clarity about antitrust legislation to limit the market power of Big Ag (and other such things)

I don’t want to compare myself to other people [in contention for the job], but I will tell you I’ve spoken with so many groups and I’ve represented those folks as a small-town lawyer, as a small-town mayor, as a state senator, then representing the state. I understand those folks and their struggles,” [Agriculture Secretary Tom] Vilsack said. “In this particular election, given the uneasiness people have about Mr. Trump in small towns where I’ve been working, there’s an openness [to Democrats].”

Vilsack stock rises as Clinton nears VP pick:The former Iowa governor is the subject of increasing speculation within Clinton’s political orbt., Gabriel Debenedetti and Helena Bottemiler Evich, Politico, today

One of my pet peeves about Hillary Clinton is how mindless—how autopilot-y—her political instincts are.  I wrote recently, and had written earlier, about her factually off attempt last summer to pander to current and aspiring small-business owners by promising that she could have the federal government streamline the time it takes to start a business and cut down on regulations on small businesses.  The federal government plays virtually no role in the regulation of small businesses—local and state governments regulate most small businesses—and the role that government at any level plays in business startup time is a matter of about a week for most businesses.

But hiding in plain sight were things she could have mentioned about the role that the federal government could play in things of critical importance to small business owners of various types.  And some things that, thanks to Dems, it already does.  Specific regulation of the financial services industry, for example—such as the Durbin Amendment, a form of antitrust regulation of Visa and Mastercard concerning business fees for credit and ATM card transactions, enacted by the Dem.-controlled Congress in 2009—has mattered a lot, and should be strengthened.  And other antitrust enforcement and proposed legislation, such as to decrease the market chokehold of the major transportation companies and Big Ag, would make a significant difference to small-business owners, including farmers.

Elizabeth Warren talked about this in a highly publicized speech a couple of weeks ago.  And Bernie Sanders discussed it often on the campaign trail, including, in Iowa, proposals for antitrust legislation to limit the market power of Big Ag.

Clinton reflexively equates the possibility of Dems attracting white rural and small town residents with triangulation.  I myself have long believed that standard-issue triangulation is not the ticket to winning some support in rural and small town areas, but that specific sophisticated policy discussions about nonconventional issues—such as about antitrust regulation—is.  Ditto for small-business owners and aspirants.

The rap on Vilsack apparently is that he’s boring.  And that he wouldn’t make a good attack dog against Trump.

I don’t think Clinton needs an attack dog, in the conventional sense, as her running mate.  Elizabeth Warren and Bernie Sanders both get extensive media coverage for what they say, and people really listen to and care about their speeches.  They’ll play a tremendous dual role in educating the public about the Dem platform—and the Repub one.  And Warren can skewer Trump like she was born to do it.

My own choice for VP nominee is Sherrod Brown, whom I’ve been a huge fan of since he appeared on my radar screen during his 2006 Senate campaign; he and Dick Durbin are my favorite senators.  Brown would make a wonderful candidate, and would appeal to rural and small town voters precisely because he’s a liberal—in ways that would matter to them.  But I share the hesitation about him that Clinton and other Dems have: his seat would be turned over to a Kasich appointee for a while.

And I think his teaming up with Sanders, Warren, Durbin, Jeff Merkley, Baldwin and Jack Reed in a Dem-controlled Senate, along with a couple of new true progressives, would prove historic.   Which is what I think Clinton should campaign on.

As for progressive NeverHillary holdouts, I think they should understand the possibilities that would come from that.  And, conversely, from this.

These. People. Are. Crazy.

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Phil Ebersole: Monopoly power and what to do about it

Blogger Phil Ebersole writes today in a post titled “Monopoly power and what to do about it” (all boldface in original):

The trouble with the U.S. economy is monopoly power.

Concentrated business power means less consumer choice, less opportunity for entrepreneurs and greater concentration of wealth.

Senator Elizabeth Warren

Senator Elizabeth Warren described the problem very well in a speech on Wednesday.  If you care about this issue, I strongly recommend that you click on the first link below.

She noted that five banks have been designated as “too big to fail” by the Federal Reserve Board and the Federal Deposit Insurance Corp.

But that situation is not limited to the banking industry.  Four airlines (down from nine in the past 10 years) control 80 percent of all airline seats.  If American, Delta, United or Southwest were to be in danger of ceasing operations, could there be any doubt that the government would want to keep them flying at all costs?

There’s another problem with concentration in the transportation industry, and that is the incentive to abandon small and remote communities and concentrate services in a few hubs.   The second article linked below describes how concentration in the airline, railroad and trucking industries has harmed small cities in the Heartland. “Flyover country” wasn’t always flyover country.

Concentration means less consumer choice.  Warren pointed out that more than half of Americans who with Internet or cable television service use Comcast.  Yet, she said, a third of U.S. citizens who theoretically have access to high-speed Internet service can’t afford it.   Americans pay more than Europeans for Internet service and get worse service.

Concentration gives large companies the power to block emerging competitors.  Recently, Warren said, complaints have been filed against Google for using its search engine to harm rivals of its Google Plus user review feature, against Apple for making it difficult for rivals of Apple Music to offer streaming services via i-Phone and against Amazon for steering customers to books published by Amazon to the detriment of other publishers.

Even with straight-out competition, there is the “Wal-Mart” effect.  When a big box store comes to town, small locally-owned businesses fail.

And when economic power is concentrated in the hands of a just a few, the “job creators” have the power to drive down middle-class wages while enriching themselves.

∞∞∞

The solution to this problem, Warren said, is simply to enforce the anti-trust laws as originally written.

The reason that they aren’t is a neoliberal philosophy of business regulation that took hold in the late 1970s, which held that the most important thing was not competition, but business efficiency.  If Amazon can serve customers more efficiently that a local bookstore, then, according to this idea, there was no reason for the local bookstore to exist.

That could be true only if Amazon, Wal-Mart, Comcast and other big corporations were owned and operated by altruists, who passed along the gains in economic efficiency to customers, workers, suppliers and the local community.

But even when consolidation produces economic efficiency that benefits consumers, economic efficiency isn’t everything.   Concentration of economic power means concentration of political power, which results in the kind of dysfunctional economic system we have now.

The benefit of Warren’s proposals is that they do not require action by Congress.   All they require is enforcement of the letter of the law.

I myself would go beyond this.  In banking, for example, and maybe Internet service and other industries, there is a benefit in a public option.   And in some cases, there is a need for public utility-type regulation.  But a return to traditional anti-trust enforcement, as Warren proposes, would be a big change for the better.

LINKS

Elizabeth Warren’s Consolidation Speech Could Change the Election by Paul Glastris for the Washington Monthly.   This includes the complete transcript of Warren’s speech.   Of course what’s important is whether her proposals are actually put into practice, not whether they help Hillary Clinton against Donald Trump.

Bloom and Bust: Regional inequality is out of control, here’s how to reverse it by Phillip Longman for the Washington Monthly.

Monopoly Power Is on the Rise in the US: Here’s How to Fix That by Mike Konczal for The Nation.

ANTITRUSSSTTT!  (Bernie Sanders did SO talk about antitrust during his campaign.  A LOT.  But thank you, Elizabeth Warren, for picking up that mantle now) by Beverly Mann for Angry Bear.

Okay, so other than that Ebersole listed my post after those articles by those two lesser lights, this is thrilling.  I mean, that this issue, so critical to the central themes driving this election cycle, is actually gaining genuine attention, so long overdue.

This movement, our movement, which began in the fall of 2011 with Occupy Wall Street, is on track to cause a political and economic earthquake.

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ANTITRUSSSTTT! (Bernie Sanders did SO talk about antitrust during his campaign. A LOT. But thank you, Elizabeth Warren, for picking up that mantle now.)

A detailed update follows the original post.

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Is the window closing on Bernie Sanders’s moment? A number of folks, your humble blogger included, have suggested as much. We’ve argued that with Democrats seeming to unite behind Hillary Clinton, it’s possible that the longer Sanders withholds his endorsement for her in the quest to make the party platform more progressive, the less leverage he’ll end up having.

But a new battleground state poll from Dem pollster Stan Greenberg’s Democracy Corps suggests Sanders’ endorsement could, in fact, still have a real impact, meaning he may still have some genuine leverage to try to win more concessions designed to continue pushing the party’s agenda in a more progressive direction.

A Sanders endorsement of Clinton could still make a big difference, Greg Sargent, The Plum Line, Washington Post, yesterday at 3:24 p.m.

____

Paul Glastris reports that a speech Elizabeth Warren gave that was virtually ignored by the news media could provide a template for an argument about the economy that changes the course of the presidential election. — gs

— Greg Sargent, The Plum Line, Washington Post, yesterday at 6:21 p.m.

Just about exactly a year ago—early last summer—as Clinton was picking up the pace of her campaign appearances and formulating her substantive arguments, she said something that the news media caught onto immediately as really strange.  In an attempt to woo aspiring and current small-business owners, she did her default thing: She adopted a Republican slogan and cliché, this one that government regulation and bureaucracy are the main impediments to starting and expanding small businesses, and are, well, just making the lives of small business owners miserable.

Federal regulations and bureaucracy, see.

It shouldn’t take longer to start a business in America than it does to start one in France, she said, correctly.  And it shouldn’t take longer for a small-business owner to fill out the business’s federal tax forms than it takes Fortune 500 corporations to do so.  Also, correctly.  And as president she will … something.

There were, the news media quickly noted, though, a few problems with this tack.  One was that regulations that apply varyingly to other than a few types of small businesses—those that sell firearms and ammunition, for example—small-business regulations are entirely state and local ones and are not of the sort that the federal government even could address.

Another was that Clinton was relying upon a survey report that provided average times to obtain business licenses in various cities around the world, for companies that would employ a certain number of employees within a numerical, midsize range (or some such), and that cited Paris as the only French cities; showed that the differences in the time it took on average to obtain a business license there and in several American cities was a matter of two or three days, and that only Los Angeles (if I remember correctly) among the American cities had a longer average time than did Paris; and that the all the cities listed had an average of less than two weeks.

Some folks (including me, here at AB) also noted that the actual time it takes to open a small business depends mostly on the type of business, often the ease of obtaining a business loan, purchasing equipment such as that needed to open a restaurant, leasing space, obtaining insurance, and ensuring compliance with, say, local health department and fire ordinances.

And one folk (me, here at AB) pointed out that the relative times it takes to fill out a federal tax form for a business depends far more on whether your business retains Price Waterhouse Coopers to do that, or has in-house CPAs using the latest software for taxes and accounting, or relies upon the sole proprietor to perform that task.

But here’s what I also said: Far, far more important to the ease of starting a business and making a profit in it than regulatory bureaucracy—state and local, much less and federal ones—is overcoming monopolistic practices of, well, monopolies.*

I didn’t just mean Walmart and the like, I explained.  I also meant the monopolistic powers that aren’t obvious to the general public.  Such as wholesale suppliers and shippers.  And such as Visa and Mastercard, which impacts very substantially the profitability of small retailers and franchisers.

Which brought me then, and brings me again, to one of my favorite examples of how the Dems forfeit the political advantage on government regulation by never actually discussing government regulation, in this instance, what’s known as the Durbin Amendment.  It limits the amount that Visa and Mastercard—clearly critical players in commerce now—can charge businesses for processing their customers’ credit card and ATM card transactions.

Talk to any owner of a small retail business—a gas station franchise owner, an independent fast food business owner, an independent discount store, for example—about this issue, as I did back when the Durbin Amendment was being debated in Congress.  See what they say.

The Durbin Amendment was one of the (very) precious few legislative restrictions on monopolies, on anticompetitive business practices, to manage to become law despite intense lobbying of the finance industry or whatever monopolistic industry would be hurt by its enactment.  To my knowledge, though, it was never mentioned in congressional races in 2010 or 2014, or in the presidential or congressional races in 2012. Antitrust issues have been considered too complicated for discussion among the populace.

Which presumably is why the news media never focused on the fact that Bernie Sanders discussed it regularly in his campaign.  And that it resonated with millennials.

And also presumably, it’s why the news media ignored Elizabeth Warren’s speech on Wednesday entirely about the decisive, dramatic effects of the federal government’s aggressive reversal over the last four decades of antirust regulation and the concerted failures of one after another White House administration (including the current one) to enforce the regulation that remains.

Here’s what Glastris wrote in preface to his republishing of the full Warren speech:

Yesterday, straight off her high-profile campaign appearance Monday with Hillary Clinton, Sen. Elizabeth Warren gave a keynote address about industry consolidation in the American economy at a conference at the Capitol put on by New America’s Open Markets program. Though the speech has so far gotten only a modicum of attention—the press being more interested in litigating Donald Trump’s Pocahontas taunts—it has the potential to change the course of the presidential contest. Her speech begins at minute 56:45 in the video below.

Warren is, of course, famous for her attacks on too-big-to-fail banks. But in her address yesterday, entitled “Reigniting Competition in the American Economy,” she extended her critique to the entire economy, noting that, as a result of three decades of weakened federal antitrust regulation, virtually every industrial sector today—from airlines to telecom to agriculture to retail to social media—is under the control of a handful of oligopolistic corporations. This widespread consolidation is “hiding in plain sight all across the American economy,” she said, and “threatens our markets, threatens our economy, and threatens our democracy.”

As our readers know, economic consolidation is a subject the Washington Monthly has long been obsessed with—see hereherehereherehereherehereherehere, and here. In our current cover story, Barry Lynn (impresario of yesterday’s event) and Phil Longman argue that antitrust was the true legacy of the original American Populists and a vital, under-appreciated reason for the mass prosperity of mid-20th Century America. But this legacy, and the new Gilded Age economy that has resulted from its abandonment, is not a narrative most Americans have been told (one reason why even the “populist” candidates running president have shied away from it).

What amazed me yesterday was how Warren synthesized the main points of virtually everything we’ve published into a single speech that, while long and wonky, was Bill Clintonesque in its vernacular exposition. You can imagine average Americans all over the country listening, nodding, understanding.

Though many in the press didn’t notice the speech, you can best believe Hillary Clinton’s campaign operatives were paying attention (Trump’s too, I’ll bet). That’s why I think the speech has the possibility of changing the course of the campaign. The candidate who can successfully incorporate the consolidation message into their campaign rhetoric will an huge, perhaps decisive advantage. Hillary has already signaled, in an op-ed she published last fall, that she gets the larger argument. Yesterday, Elizabeth Warren showed her how to run on it. You can read the full prepared text below.

I’m thrilled.  Except for that parenthetical that says “even the “populist” candidates running president have shied away from it, which is inaccurate regarding Bernie Sanders. The link is to an article by Glastris in the November/December 2015 edition of Washington Monthly titled “America’s Forgotten Formula for Economic Equality,” which regarding Sanders concludes based upon an answer to a question by Anderson Cooper at a then-recent televised debate in which Sanders asked the question about how he expected to win the presidency as a democratic socialist failed to mention the issue of antitrust, that Sanders did not campaign on the issue of the demise of antitrust law and enforcement.

But as it happens, I knew that was incorrect.  One of my fondest memories of the Sanders campaign dates back to a detailed first-person report by a journalist covering the Sanders campaign in Iowa last summer, who attended a rally not as journalist but instead from the cheap seats in the midst of the attendees.  I can’t remember the journalist or the publication, and was unable to find it just now in a search.  But I remember this: He sat next to a young woman, blond, cheerleadery-looking, who whenever Sanders said a word or phrase referencing one of his favorite topics, would stand up, thrust her arm up in a punch-the-air motion, and shout the word or phrase.  Cheerleader-like, the reporter said.

One of the words?  Antitrust.  Or, as the young woman said it, “ANTITRUSSSTTT!”

In searching for that article, which as I said I couldn’t find, I did find a slew of references by Sanders to antitrust—the economic and political power of unchecked and ever-growing monopolies—in reports about his rallies.  One, about a rally in Iowa, for example, quoted Sanders as saying that Agribusiness monopoly has reduced the prices human farmers receive for their products well below their market value in a competitive economy.

Other statements made clear the critical reason that Sanders has so focused on the call to break up the big banks: their huge economic and political power.  Including the resultant demise of community banks of the sort that made America great when America was great—for obtaining small-business loans and mortgages, anyway.

So here’s my point: If you click on the link to that Democracy Corps poll, you’ll see what so many people whose heads are buried in the sands of the pre-2015 political era (including the ones who constantly trash me in the comments threads to my posts like my last one) don’t recognize.  All that the Democrats need do in order to win a White House and down-ballot landslide is to campaign on genuinely progressive issues, and genuinely explain them.

Which is why Warren is so valuable to the Dems up and down the ballot.  And why Sanders is, too.

Warren endorsed Clinton last week, and on Tuesday campaigned with her in a speech introducing her, singing her praises, and trashing Donald Trump.  Headline-making stuff.  But not the stuff that will matter most.  When she goes on the road and repeats her Wednesday speech, not her Tuesday one, and then asks that people vote Democratic for the White House on down, it will matter far more.

And that is true also for Sanders. But I don’t expect many politicos over the age of 40 to recognize that.

Glastris’s piece yesterday in titled “Elizabeth Warren’s Consolidation speech Could Change the Election.” Yes.  Exactly. Consolidation.  As in, monopolies. And monopolistic economic practices and political power.

Antitrusssttt!

Surprisingly, apparently in response to the release of the Democracy Corp poll yesterday, hours after suggesting that Clinton was about to begin campaigning as a triangulator because Sanders was refusing to endorse her, and anyway that’s what some Clinton partisans have been urging, someone in the Clinton campaign rescinded that, indirectly.  Presumably, it was someone under the age of 40.

Or someone who reads Angry Bear.  Probably someone who’s under 40 and reads Angry Bear.

Rah-rah! Sis-boom-bah!

*Sentence edited slightly for clarity. 7/2 at 10:43 a.m.

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UPDATE: Greg Sargent is reporting now:

The latest draft of the Democratic Party platform, which is set to be released as early as this afternoon, will show that Bernie Sanders won far more victories on his signature issues than has been previously thought, according to details provided by a senior Sanders adviser.

The latest version of the platform, which was signed off on recently by a committee made up of representatives for the Sanders and Clinton campaigns and the DNC, has been generally summarized by the DNC and characterized in news reports. Sanders has hailed some of the compromises reached in it, but he has vowed to continue to fight for more of what he wants when the current draft goes to a larger Democratic convention platform committee in Orlando coming weeks, and when it goes to the floor of the convention in Philadelphia in late July.

But the actual language of the latest draft has not yet been released, and it will be released as early as today. It will show a number of new provisions on Wall Street reform, infrastructure spending, and job creation that go beyond the victories that Sanders has already talked about. They suggest Sanders did far better out of this process thus far than has been previously thought. Many of these new provisions are things that Sanders has been fighting for for years.

We already know from the DNC’s public description of the latest draft of the platform that it includes things such as a general commitment to the idea of a $15-per-hour minimum wage; to expanding Social Security; to making universal health care available as a right through expanding Medicare or a public option; and to breaking up too-big-to-fail institutions.

Warren Gunnels, the chief policy adviser to the Sanders campaign, is Sargent’s source.  Gunnels listed six additions to the platform draft:

1) Eliminating conflict of interest at the Federal Reserve by making sure that executives at financial institutions cannot serve on the board of regional Federal Reserve banks or handpick their members.

2) Banning golden parachutes for taking government jobs and cracking down on the revolving door between Wall Street and Washington.

3) Prohibiting Wall Street from picking and choosing which credit agency will rate their product.

4) Empowering the Postal Service to offer basic banking services, which makes such services available to more people throughout the country, including low-income people who lack access to checking accounts.

5) Ending the loophole that allows large profitable corporations to defer taxes on income stashed in offshore tax havens to avoid paying less taxes.

6) Using the revenue from ending that deferral loophole to rebuild infrastructure and create jobs.

Okay, folks.  While being credited to Sanders, this far more likely is a blunt-force impact of Warren, since every one of these points concerns Warren’s particular area of interest: financial industry regulation.

But there are, I believe, clear Sanders hallmarks in there, too: particularly item 4, empowering the Postal Service to offer basic banking services, which makes such services available to more people throughout the country, including low-income people who lack access to checking accounts.

In other words, Warren is the intermediary between the Clinton and Sanders campaigns.  And in exchange for her unbridled campaigning for and with Clinton has combined her own top priorities—precise legislative ones that Warren has the deep expertise to demand and to draft, e.g., items 1 and 3—with one very specific one of Sanders and with more generic ones of his as well, e.g., items 2 and 5.

This will be an unbeatable platform and team.  During the campaign, and in the four years that follow.

Game on.

Update added 7/1 at 3:34 p.m

 

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