4 ms·
As long as the administration takes a hands-off approach to their industry, the 'plutocrats' on Wall Street prefer to vote and donate Democrat, often for cultur
by gyardley 15y ago
As long as the administration takes a hands-off approach to their industry, the 'plutocrats' on Wall Street prefer to vote and donate Democrat, often for cultural reasons. Just like many other monied people here in New York. It's not a big Republican town.
Many recipients of the financial bailouts OWS is protesting have traditionally been big Democratic donors. Both Bush and Obama passed financial industry bailouts - this isn't a partisan issue.
Krugman knows this, and has chosen to highlight just the Republicans' responsibility and their crude attempts to rile up their base ('this is class war!') instead of the Democrats' responsibility and their attempts, largely through paid union staffers, to transform the protests into a pro-Democratic movement. (Who can blame them for trying? I think the Republicans came out ahead by co-opting the Tea Party, nominating goofs like Christine O'Donnell and Sharron Angle excepted.)
That's why this is a partisan piece. It's not what Krugman said, it's what he chose to omit.