The Third Way summary

It’s critical to understand that Third Way presents itself as “centrist” and a think tank:

Third Way

Via Huffington Post Bill Black summarizes the profiles of the trustees:

Twenty of the twenty-nine trustees come from finance (counting the lawyer whose specialty is representing private equity firms). Their most common background is Mitt Romney’s — private equity — and hedge funds. The nine non-finance members include:

  • A Pete Peterson acolyte who previously created supposedly centrist front groups for gun rights and an effort to enlist “Gen X” in Wall Street’s assault on the safety net
  • A developer of giant malls
  • A semi-conductor manufacturer
  • A manufacturer of diaries
  • A criminologist/journalist
  • A PR specialist
  • A gay rights activist
  • A lobbyist at a firm best known for representing finance
  • A lawyer

Yves Smith points to Elizabeth Warren Attacks Beltway Powerhouse Third Way as Fronting for Wall Street

Wow, the gloves are finally coming off. Elizabeth Warren has been making good use of her Senate bully pulpit in terms of keeping the excessive power of the big banks and the haplessness of regulators in the headlines. But as readers know, we’ve had our doubts as to how much in the way of tangible outcomes she could achieve from the Senate. For instance, she’s dutifully sent pointed follow up questions as part of Congressional hearings to various regulators. The replies have been at best evasive, in the faux polite form of bureaucratic obfuscation and misdirection to (from the Fed) borderline dismissive.

More important in her use of her Senate microphone is Warren’s ongoing campaign to move the Overton window to the left on basic economic issues for what remains of the US middle class. It’s vital to note that positions that are regularly depicted in the media as “liberal” or “progressive,” such as strengthening Social Security and Medicare (even if it means raising taxes) and cutting defense spending in fact poll with significant majorities, so they are in fact both popular and centrist for those outside the elites.

Two operatives from the Washington think tank Third Way put Warren in their crosshairs for daring to suggest that Social Security be strengthened and the rich be taxed more in a Wall Street Journal op-ed on Monday.

It’s critical to understand that Third Way presents itself as “centrist” which is code for “oligarchy promoters pretending to be reasonable” and has consistently advocated gutting Social Security and Medicare.