Posts Tagged ‘Big Banks’


Some Trump 2016 supporters voted for him out of frustration. They were totally fed up with stagnant wages and both job and home losses during the Great Recession; Obama had betrayed their hopes — he saved the big banks but not them; and the Democrats in 2016 presented them with a Hobson’s choice: an almost equally loathsome candidate who promised more of the same, or Trump, who at least promised to shake things up.

The Democrats thought they could blackmail people into voting for their widely despised candidate, who won via a rigged primary, who openly ridiculed proposals for fundamental economic change and greater fairness, and who was the most disliked Democratic candidate since polls started tracking the matter half a century ago. Trump was even more disliked, so they thought they had the electorate in a hammer lock. It was essentially, “Vote for me suckers, or it’s Trump! What are you gonna do, punks?” Clinton and her accomplices didn’t even attempt to present  a positive agenda. Her message was pure and simple, “It’s me or Trump.”

And, surprise surprise, that message failed to inspire.

The corporate Democrats had argued that Clinton was more electable than Bernie Sanders, who had a far higher popularity rating and who was calling for fundamental (if reformist) change. (Bernie’s calling his proposals a “revolution” is ridiculous — they’re a call for mild reforms within a fundamentally corrupt system. Still, they’re the best thing going on the electoral front).

Today, another longtime Washington insider, corporate Democrat and Obama accomplice, Joe Biden, has taken up the “electability” argument. He has the same do-nothing mantra as Clinton, “It’s me or Trump,” the same lack of proposals for real change, and the same stench of insider politics. (Why has his son Hunter been receiving $50K per month for being on the board of a Ukrainian energy company, a position for which his only qualification is his name? If anything, Biden has behaved honorably there. But the fact remains that his son is trading on the Biden name.)

As well, Biden has been a faithful servant of big pharma and, especially, the big banks and credit card companies, who have royally screwed average people. He was a lobbyist for credit card giant MBNA through 2005, and worked diligently to make it harder for people to file for medical-caused bankruptcy, and all but impossible for students to discharge through bankruptcy student loan debt, which has approximately quadrupled since 2005.

One thing Biden’s supporters conveniently forget to mention in their “electability” argument is that Trump received the votes of only 26% of those eligible to vote, and Clinton roughly 28%, while 5% voted for minor party candidates (almost certainly out of frustration), and a full 41% of those eligible to vote chose not to vote.

If the Democrats have the sense to nominate a candidate calling for real change (especially in healthcare), they’ll almost certainly win. Of Trump’s 2016 supporters, especially those who voted for Obama in 2008 and 2012, they could likely pick up one in ten. And of the 41% who didn’t vote in 2016, even if they motivated only one in ten to vote, they’d win in a landslide.

The only way they could really fuck this up is by nominating Joe Biden.