Establishment "Democrat" Jamie Dimon Joins Mitch McConnell On The Losing Side Of History

 

The "Losing Side of History" phraseology comes from yesterday's column about #MoscowMitch in Politico Magazine by John Harris. Harris wrote that McConnell's (and the GOP's) "sprint to install a justice for a lifetime appointment this year, either days before a presidential election or in the lame-duck session afterward, looks a lot like the dying spasms of a political movement that began five decades ago."

Now, at 78, McConnell is leading a party that depends on exploiting every avenue to preserve power despite not commanding national majorities. Starting in 1992, in seven presidential elections, Republicans have won the popular vote just once.

The national electorate is younger, more diverse, and less traditional in cultural attitudes, and more enthusiastic about a robust role for government. The Republican Party for most of this century draws overwhelmingly from people who are older, white, and socially conservative. In recent years, college-educated voters are taking flight from the GOP.

Republicans have won power in significant measure through institutions that buffer the influence of national majorities: The Electoral College, the Senate, and, above all, the Supreme Court.

A conservative movement that in youth worked to rein in the Supreme Court’s unelected power in the name of democracy now hopes in old age to harness the Supreme Court’s unelected power to protect it from the hazards of too much democracy.

These institutions can slow long-term demographic and ideological trends but they are unlikely to halt them. This means that, in due course-- whether this year or sometime in the future-- we will learn how closely Democrats have been studying the McConnell methods and whether they will choose to emulate them.

So what's all that got to do with JP Morgan Chase CEO Jamie Dimon? Well... do you recall when Team Biden was touting Dimon as a strong contender for Biden’s dream team-- Secretary of the Treasury was where they saw this Clintonite turd. There was such an uproar that Dimon put out a statement assuring voters he wasn't interested. Still, that was already about as alarming a statement about those advising Biden, and their kowtow to Wall Street, as one can imagine. Now Pam and Russ Martens have revealed that Dimon and JPMorgan's PAC are financially supporting McConnell's reelection bid. Nice, huh?

Dimon, a billionaire, and his PAC have given thousands of dollars to McConnell and McConnell operations. "McConnell doesn’t like taxes on the rich," wrote the Martens. "Perhaps that’s a good enough reason for Dimon to donate to his political campaign and not give a hoot about how that might earn him the hostility of his workforce or doom the country." Actually Dimon says he doesn't really mind if the rich get taxed on their incomes... just not on their wealth.

Biden should be careful to be aware when making cabinet picks of people, like Dimon, who say things like this: "I've gotten disturbed at some of the Democrats' anti-business behavior, the attacks on work ethic and successful people. I think it's very counterproductive... It doesn't mean I don't have their values. I want jobs. I want a more equitable society. I don't mind paying higher taxes... I do think we're our brother's keeper but I think that attacking that which creates all things, is not the right way to go about it." Or perhaps Biden has the same mindset.

In fact, yesterday, David Sirota suggested that Biden is jeopardizing the election by alienating progressives by shitting on them. He's beating Trumop in poll after poll but his enthusiasm gap is wide, even if Republican elites-- though not masses of GOP voters-- seem to like him. Sirota wrote that "he should stop triangulating against the base of his party and publicly dunking on the millions of Democratic voters who supported Sen. Bernie Sanders in the party’s last two presidential primaries.

During an interview with a local Fox affiliate in Wisconsin today, Biden took a shot at Sanders in response to a reporter’s loaded question about “voters that are worried about socialism and you raising taxes.”

There are plenty of ways to answer that question. You can reject the arguments over labels. You can pivot to talking about expanding health care and fighting the pandemic-- two issues that are top concerns to Wisconsin voters, according to the latest Ipsos poll.

Instead, Biden used the opportunity to dunk on Bernie Sanders-- the third most popular Democrat in America, ahead of Biden, according to YouGov’s national poll.

“I beat the socialist. That’s how I got elected. That’s how I got the nomination,” Biden said. “Do I look like a socialist? Look at my career, my whole career. I’m not a socialist.”

That’s certainly true-- Biden has tried to cut Social Security, supported bank deregulation, and is opposed to Medicare for All. The only part of Biden’s record that could be called socialist was his vote to bail out Wall Street executives-- but that was a form of corporate socialism that enriched the wealthiest and most powerful people in the country after they ruined millions of Americans’ lives.

So, yeah, while Biden is no socialist, none of his record proving that is anything to brag about. More important, Biden’s instinct to crap on progressives, rather than energizing them, is totally counterproductive to the effort to defeat Donald Trump. It not only helps Trump by validating his Red Scare framing of the election, but it also tells progressives that Biden may not be the ally he is promising to be.

...A few weeks ago, Biden’s campaign made headlines echoing Republican talking points about the deficit and insinuating that a Biden administration wouldn’t follow through on its budget promises. Biden also told his Wall Street donors that despite his public promises, “I’m not proposing any” legislation to change corporate behavior. That followed his previous promise to his big donors that “nothing would fundamentally change” for them under a Biden administration.