David Dayen
has an article in the New
Republic about the needless attacks on Kamala Harris for her
non-prosecution of Steven Mnuchen during the financial crisis. This was also
one of the topics discussed on this Monday’s (8/7/17) Pod Save America. Mr. Dayen correctly points out that the
Democratic Party could end up eating its own on this front. To use his words, “no
public official in this country, from Barrack Obama on down, covered themselves
in glory during the foreclosure crisis.” It is obviously true, only one person
went to jail, and the fines seemed to go in the wrong direction once the banks
were declared too big to fail.
Dayen also
stumbles upon what could be the most revelatory point of his article, but he
doesn’t meditate on it too much. The foreclosure crisis and the financial
problems it caused were a major scandal, and they were not prosecuted. There
was never a genuine attempt to bring those who crashed our economy to justice,
and Democrats were in charge nearly everywhere.
Post
mortems on the 2016 election have talked about the populist rage and how the
Democrats were not prepared to deal with it. I have read numerous think pieces
claiming this movement just came from nowhere and most can’t figure it out beyond
noting the media elite were not willing to talk to white working class voters. That’s
the best most are willing to offer. The concerning thing is there is a shift I
think many Democrats missed in the party, something independents and those aggrieved
Trumpites have been saying as an otherwise unsupported accusation. Democrats
are no longer the party of the people.
The
Democrats stopped being the party of the people when they failed to prosecute
anyone for the financial crisis. We swept in to power at its height and promised
change, promised to care for the people. When it came time to actually wield
that power though, suddenly everyone was too big to fail or we were concerned
about the secondary economic impact of punishing the malfeasance of companies
that had acted immorally and illegally. That’s not something that proves that
we are for the people. Sure we did not want to destroy a fragile economy, but
we were failing to see the impact and implication of protecting the
corporations responsible. Foreclosures continued, and Democrats allowed the
poison narrative of personal responsibility to justify it as well.
The jobs
initiatives we did have didn’t do enough and wages never recovered enough to
fully replenish the middle class. These problems persist to today, so much so
that it is even in the milquetoast new platform, but where is the confidence
that we can actually benefit both the economy and the average person. Democrats
haven’t been winning elections because they haven’t been fighting. Sure, things
got a lot better under the Obama administration, but he acted more the
economics professor than the crusader. This is why Senator Bernie Sanders’
message was so appealing to so many. It was a return to the rhetoric that was
worker centric. Not surprising for a Socialist, but still a shift away from a
more corporate strategy favored by the establishment of the party.
Bernie may
not have been a perfect candidate but he at least was willing to name the
problem and vow to fight it. Obama did positive things for the economy and he
certainly left the country better than he found it. But in so doing he didn’t
rise all boats equally. He is a Democrat, it should be a little socialist too.
He failed in not being FDR and bringing the programs that really helped people.
Which is not the world’s biggest failure, Buchanan is derided as one of our
worst president’s, but mostly because he failed to be Abraham Lincoln. Barrack
Obama will be remembered as a good president, whether he rises to be thought of
as a great president will be for historians.
We are not
here to litigate previous elections or administrations, but find a way to
prepare better for the ones ahead. The lesson here is that Democrats must keep
average people at the center of their rhetoric. That definition might shift a
little one way or the other, but it is clear that we cannot prize a corporation
over those it serves, or that we serve. Our focus on intelligent government
solutions to problems can help the Democrats reclaim the mantle of party of the
people.
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