Rep. Cantor: Bought And Paid For By Wall Street Investors
Why has Rep. Eric Cantor (R-VA) been “increasingly concerned about the growing mobs occupying Wall Street,” while defending the Tea Party protests as an organic movement?” It’s all about the money.
Rep. Cantor’s campaign committee and leadership PAC have been bankrolled by Wall Street since he was elected in 2000. The financial industry has been his largest contributor, increasing donations to the congressman by 1,326% between the 2002 and 2010 election cycles.
So while Rep. Cantor may believe the Occupy Wall Street movement is “the pitting of Americans against Americans,” the reality is the movement is pitting Americans against his campaign contributors.
Then, of course, there is Rep. Cantor’s wife, Diana, a fixture on Wall Street. Ms. Cantor served as a VP at Goldman Sachs, a Managing Director at New York Private Bank & Trust, and currently is a partner at Alternative Investment Management, LLC – a firm that “invests mainly in hedge funds and private equity funds.”
According to Open Secrets
Thus far in the 2012 election cycle, Rep. Cantor is the second largest recipient of financial industry donations to House members.
In the 2010 election cycle, he was the third largest recipient of Wall Street cash. In fact, ever since his election to Congress, Rep. Cantor has been in the top 16 recipients of financial industry contributions.
Up to now in the 2012 election cycle, five of Rep. Cantor’s top 10 donors to his campaign committee and leadership PAC were in the financial industry.
Rep. Cantor is currently the second largest recipient of Securities and Investment contributions (which includes hedge funds, private equity and venture capital money).
During the 2010 election cycle, six of Rep. Cantor’s top 10 donors to his campaign committee and leadership PAC were from finance related industries.
During the 2010 election cycle he was the fourth largest recipient of Securities and Investment contributions.
By: PR Watch, Center for Media and Democracy, October 18, 2011
Why the Tea Party Failed To Produce A Credible Candidate
Writing on his eponymous website, David Frum reacted to Tuesday’s GOP debate and Mitt Romney’s front-runner status by asking, “Who produces the first big analysis: Why the Tea Party could not produce a credible presidential candidate?” I’ll bite. Every political movement is a marriage of beliefs and rhetoric, combining convictions about where the country should be going and judgments about the best way to get there. Potential supporters assess the whole package.
The tea party’s beliefs and convictions about where the country should be going, or the best version of them, are popular enough to produce a viable candidate, especially in a GOP primary. He or she would insist that the federal government spends too much, that bureaucrats shouldn’t pick winners and losers in the economy, and that federalizing the health care system is unlikely to reduce overall costs.
A viable tea party agenda would also appeal to the libertarian wing of the party, which is suspicious of interventionism, ever-expanding military spending, and the criminalization of everything from marijuana to not having health insurance. And it would pointedly highlight the damage done by Democratic Party donors, especially Wall-Street beneficiaries of government largess, public employee unions, and trial lawyers, all of whom use their clout to capture taxpayer money.
So how to produce a candidate? A savvy tea party would assess politicians with resumes sufficient to become president, court and flatter known quantities like Mitch Daniels, who would fundraise well be acceptable to other constituencies in the Republican Party, and work to ensure that the longshots it elevated were principled guys like Gary Johnson, who’ve proven their ability to govern should they improbably catch fire in the course of campaigning around the nation.
But the actual tea party isn’t savvy. It overestimates its clout within the GOP, fails to appreciate the many obstacles to winning a general election, let alone implementing its agenda, and is therefore careless and immature in choosing its champions. It elevates polarizing figures of questionable competence like Sarah Palin because doing so is cathartic. It backed Michele Bachmann despite her thin resume, erratic behavior in interviews, and the fact that she cares most about advancing a socially conservative agenda, not a small-government agenda. Its erstwhile favorite, Rick Perry, doesn’t even subscribe to what ought to be a core tea party tenet: that the government shouldn’t subsidize particular firms, picking winners and losers. Perry is a right-wing corporatist. And Herman Cain, the front-runner of the week? He has zero governing experience, acknowledges that he knows next to nothing about foreign policy, flip flops on matters of tremendous consequence, and touts a flawed economic plan, 9-9-9, that could never pass.
What do all these dubious champions have in common? Their red meat rhetoric and ability to antagonize liberals. What many tea partiers share is a belief that the best way to get where the country should be going is by being more ruthless than the Democrats; by fighting them zealously in the media, zinging them from the stump, and never, ever compromising with them in Congress or at the White House negotiating table. This is partly a reaction to George W. Bush’s tenure, when tea partiers believe they were sold out by a big-spending, big-government RINO who kept compromising with Ted Kennedy. It is partly a reaction to the perception that they tried nominating media darling and “maverick” John McCain in 2008, and he lost. It is partly a reaction to the belief, stoked by talk radio, that every compromise with liberals is just one more ratchet in the direction of socialism, and that a confident, uncompromising conservative, in what they imagine to be the model of Ronald Reagan, is the solution to their woes.
Their approach has several flaws.
1) Bombast isn’t a predictor of fealty to principle. It’s just strategically uttered rhetoric, like everything else said by politicians, a profession where what is promised on the campaign trail always deviates from what is done in office. How odd that the most cynical voters are most taken by extravagant promises of loyalty.
2) When primary candidates compete to be the most bombastic and uncompromising in their rhetoric, the most successful quickly start to look unelectable, and the average Republican primary voter wants most of all to beat President Obama in 2012. Thus the winner of the “conservative primary” loses the Republican primary, in much the same way that Howard Dean lost to John Kerry during the 2004 cycle.
3) Some candidates who lack bombast, like Jon Huntsman or Daniels, would be more effective than any tea-party champion at advancing the movement’s agenda, but they’re overlooked because they fail to excite. It’s absurd. Their records as successful governors are concrete demonstrations that they govern in a reliably conservative manner and can win converts. It is irrational to mistrust the rhetoric of politicians even while preferring someone like Cain, whose lack of experience forces supporters into the position of trusting his rhetoric without any basis for doing so save their gut feelings (which have done nothing but caused them to feel betrayed by pols in the past).
Why couldn’t the tea party produce a viable candidate? Its partisans put fiery rhetoric ahead of substance, judged GOP politicians based on the extravagance of their promises more than what they’d actually accomplished, failed to demand of its champions some baseline level of competence, and insisted on pols who deliberately piss off outsiders rather than Reaganesque communicators intent on converting them. Tea partiers got drunk off the pleasure of hearing their prejudices echoed. They’re now waking up to face their hangover. And his name is Mitt Romney.
By: Conor Friedersdorf, The Atlantic, October 13, 2011
Five Reasons The Occupy Wall Street Movement Really Frightens The Right
The Occupy Wall Street movement really frightens the Right Wing. It is not frightening to the Right because of Congressman Eric Cantor’s feigned fear of “the mob” that is “occupying our cities.” It is not frightening because anyone is really worried that Glenn Beck is correct when he predicts that the protesters will “come for you, drag you into the street, and kill you.”
That’s not why they are really frightened — that’s the Right trying to frighten everyday Americans.
There are five reasons why the Right is in fact frightened by the Occupy Wall Street movement. None of them have to do with physical violence — they have to do with politics. They’re not really worried about ending up like Marie Antoinette. But they are very worried that their electoral heads may roll.
All elections are decided by two groups of people:
Persuadable voters who always vote, but are undecided switch hitters. This group includes lots of political independents.
Mobilizable voters who would vote for one Party or the other, but have to be motivated to vote.
The Occupy Wall Street Movement is so frightening to the Right because it may directly affect the behavior of those two groups of voters in the upcoming election.
1). The narrative
People in America are very unhappy with their economic circumstances. As a result the outcome of the 2012 election will hinge heavily on who gets the blame for the horrible economy — and who the public believes, or hopes — can lead them into better economic times.
Political narratives are the stories people use to understand the political world. Like all stories, they define a protagonist and antagonist. And political narratives generally ascribe to those central characters moral qualities — right and wrong.
For several years, the Tea Party-driven narrative has been in the ascendance to explain America’s economic woes. Its vision of the elites in government versus hard-working freedom-loving people has heavily defined the national political debate.
Of course at first glance it’s an easy case for them to make. The President, who is the head of the over-powerful, “dysfunctional” government, is in charge. Things aren’t going well — so he, and the government he runs, must be at fault.
The Occupy Wall Street movement has helped force the alternative narrative into the media and public consciousness. The recklessness and greed of the big Wall Street banks, CEO’s and top one percent — those are the culprits who sunk the economy and who have siphoned off all of the economic growth from the middle class. They and their enablers in Congress — largely Republicans — are the problem. To address the underlying economic crisis facing everyday Americans we must rein in their power.
This narrative is very compelling and, of course, it is true. It’s not that many voices haven’t framed the debate in these terms for years. But by creating a must- cover story, the Occupy Wall Street movement has forced it onto the daily media agenda. That is great news for Progressives. The longer it continues, the better.
Right Wing pundits have disparaged the Occupy Wall Street movement for not having specific “policy proposals” — but the Right knows better. The Occupy Wall Street movement is advocating something much more fundamental. It is demanding a change in the relations of power — reining in the power of Wall Street, millionaires and billionaires – the CEO class as a whole. It is demanding that everyday Americans — the 99% — share in the increases in their productivity and have more real control of their futures — both individually and as a society. Now that’s something for the Right to worry about.
2). Inside-Outside
Especially in periods when people are unhappy, the political high ground is defined by who voters perceive to be elite insiders and who they perceive to be populist outsiders. Who among the political leaders and political forces are actually agents of change?
In 2008, Barak Obama won that battle hands down. The Tea Party Movement muddied the water. It portrayed themselves as “don’t tread on me” populist outsiders doing battle with President Obama the elite, liberal insider.
Of course this ignores that the Tea Party was in many ways bought and paid for by huge corporate interests — but in the public mind it was a very compelling image.
The Right Wing has always had its own version of “class conflict.” Its “ruling class” is defined as the elite, intellectuals, bureaucrats, entertainers and academics that are out to destroy traditional values and undermine the well-being of ordinary Americans.
The Occupy Wall Street movement, coupled with the movements in Wisconsin and Ohio earlier this year, present an entirely different — and accurate — picture of who is on the inside and who is not.
3). Momentum
Politics is very much about momentum. Human beings are herding creatures — they travel in packs. People like to go with the flow. Whether in election campaigns, or legislative proposals, or social movements, or football games — the team with the momentum is much more likely to win.
The Occupy Wall Street movement has put the progressive forces in society on the offense — it has begun to build progressive momentum.
4). Movement
The Occupy Wall Street movement has managed to turn itself into a real “movement.” Movements don’t involve your normal run-of-the-mill organizing. Normally organizers have to worry about turning out people — or voters — one person or one group at a time. Not so with movements.
Movements go viral. They involve spontaneous chain reactions. One person engages another person, who engages another and so on. Like nuclear chain reactions, movements reach critical mass and explode.
That’s what makes them so potentially powerful — and so dangerous to their opposition.
Often movements are sparked by unexpected precipitating events — like the death of the fruit stand vendor in Tunisia that set off the Arab Spring. Sometimes they build around the determined effort of a few until that critical mass is reached.
In all cases movements explode because the tinder is dry and one unexpected spark can set off a wild fire.
Movements mobilize enormous resources — individual effort, money, person power – by motivating people to take spontaneous action.
The Occupy Wall Street movement in New York has spread to scores of cities — and the fire shows no sign of flaming out. It will fuel the engagement and remobilization of thousands of progressive activists and volunteers who had been demobilized and demoralized, but the sausage-making of the DC legislative process. That is a huge problem for the right that was counting on despondency and lethargy among progressives to allow them to consolidate their hold on political power in 2012.
5). Inspiration
More than anything else, in order to mount a counter-offensive against the Right wing next year, Progressives need to re-inspire our base. We need to re-inspire young people and all of the massive corps of volunteers who powered the victory in 2008.
Inspiration is critical to mobilization. It is also critical to persuasion. Swing voters want leaders who inspire them.
Inspiration is not about what people think — it’s about what they feel about themselves. When you’re inspired you feel empowered. You feel that you are part of something bigger than yourself, and that you — yourself — can play a significant role in achieving that larger goal.
The Occupy Wall Street movement has begun to inspire people all over America. That’s because people are inspired by example. They themselves are inspired if they see others standing up for themselves — speaking truth to power — standing up in the face of strong, entrenched opposition. People are inspired by heroic acts — by commitment — by people who say they are so committed that they will stay in a park next to Wall Street until they make change. That’s what happened in Egypt and Tunisia. That’s what happened in Wisconsin this spring.
The legacy of the Occupy Wall Street movement could very well be the re-inspiration of tens of thousands of Progressives — and the engagement of young people that are so important to the future of the progressive movement in America.
Right-wingers will plant provocateurs in an attempt to stigmatize the Occupy Wall Street movement with violence — to make it look frightening. But if the Movement continues with the kind of single-minded purpose and commitment that we have seen so far, the Occupy Wall Street movement may very well make history. It has already become an enormous progressive asset as America approaches the critical crossroad election that could determine whether the next American generation experiences the American Dream or simply reads about it in their history books.
By: Robert Creamer, Published in Huff Post Politics, October 12, 2011
The Tea Party Chronicles
Raising Cain
Herman Cain, the former CEO of Godfather’s Pizza is rolling in dough and rising in the polls. A new national survey of primary voters by the Wall Street Journal and NBC News has the Hermanator in first place ahead of Mitt Romney and all the other Tea Party types. The question is whether working families will support Cain’s plan for a national sales tax to pay for lower taxes for bankers and billionaires? I don’t think so.
Don’t Know Much about History
The Tea Party takes its name from the Americans who dumped British tea into Boston Harbor to protest taxation without representation in 1773. The Tea Partyers profess great reverence for the founders but the Tea Party candidates are clueless about the founding of our nation. Tuesday Rick Perry placed the American Revolution in the 16th century which would have given our founders only a few years to get things rolling after Columbus came to town. Previously, Michele Bachmann described the founders as abolitionists, a portrayal which would have greatly surprised the hundreds of slaves owned by George Washington and Thomas Jefferson. By the way, Representative Bachmann, the Boston Tea Party, like the battles of Lexington and Concord, was in Massachusetts, not New Hampshire.
Greed is Good
Greed is good should be the motto for the Party of Tea, the party formerly known as the GOP. Tuesday, Every POT member of the United States Senate opposed the president’s proposal to reduce payroll taxes and provide tax breaks for small businesses which hire people without jobs. Why did the POT spit the bit on the issue that Americans care most about? Because Democrats would pay for the tax cuts for working families and small businesses by making millionaires and billionaires pay their fair share of taxes. Greed is good for the Tea Partyers and their billionaire buddies who bankroll their big budget campaigns. Because the POT blocks action in Washington on jobs, thousands of Americans occupy Wall Street and streets across the country to protest corporate greed. Will the numerical advantage that the 99 percent have triumph over the money muscle of the 1 percent. Yes, it will.
ObamaCares
Time magazine released a new national survey yesterday that shows Barack Obama beating all his POT challengers. The secret of the president’s success is Obama’s caring. A clear majority (57 percent) of likely voters believe that Barack Obama cares about the problems of people like themselves. It’s not surprising that Americans feel that the president cares about them when the Party of Tea goes out of its way to cut Medicare and Social Security benefits for seniors but fights to the death to protect federal tax freebies for bankers, billionaires, hedge fund managers, and corporate jet setters.
It’s about Time
The same Time magazine national survey indicates that two of every three Americans believe the rich should pay more taxes. Which explains why more than half (54 percent) of the likely voters have a favorable opinion of the protesters against corporate greed while only one of four people (27 percent) have a favorable opinion of the Tea Party. The Tea Party has been replaced by the new kid on the block. Far be it for me to give advice to Republicans but they better quickly take back their party from the extremists before voters dump the old GOP into the harbor with the Tea Party.
By: Brad Bannon, U. S. News and World Report, October 13, 2011
The Koch Brothers’ Big Bucks
In case anyone needed a reminder about the kind of forces Democrats will be up against next year, the Koch brothers are putting together their plan to help buy the 2012 elections.
The billionaire industrialist brothers David and Charles Koch plan to steer more than $200 million — potentially much more — to conservative groups ahead of Election Day, POLITICO has learned. That puts their libertarian-leaning network in the same league as the most active of the groups in the more establishment-oriented network conceived last year by veteran GOP operatives Rove and Ed Gillespie, which plans to raise $240 million.
That’s financing for an awful lot of attack ads, nearly all of which will be dishonest, and which a whole lot of voters will believe.
It’ll be interesting, though, to see whether Democrats are able to make the Koch money toxic. We learned last week that there’s ample evidence that Koch Industries made “improper payments” (read: bribes) to “secure contracts in six countries dating back to 2002.” One of those countries, it turns out, is Iran, which has purchased millions of dollars of petrochemical equipment from the Kochs’ company, despite a trade ban and the U.S. labeling Iran a state sponsor of terrorism. The Kochs’ business also stand accused of having “rigged prices with competitors, lied to regulators and repeatedly run afoul of environmental regulations, resulting in five criminal convictions since 1999 in the U.S. and Canada.”
This is the money that’s going to buy elections for Republicans?
Over the summer, House Majority Leader Eric Cantor (R-Va.) declared, “Plain and simple, if you do business with Iran, you cannot do business with America.”
Follow-up question for Cantor, who’s accepted tens of thousands of dollars in campaign contributions from Koch Industries: those who do business with Iran cannot do business with America, but can they partner with the Republican Party to swing an election cycle?
By: Steve Benen, Contributing Writer, Washington Monthly-Political Animal, October 10, 2011
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