Progressives have no power in a corporate, focus-grouped, Wall Street-leaning party. The Democrats conduct since the midterm debacle is as sad and sorry as the campaign that caused it. The party s leaders are a big problem. A bigger one is the closed system of high-dollar fundraising, reductionist polling and vapid messaging in which it is seemingly trapped. Some say a more populist Democratic Party will soon emerge. It won t happen as long as these leaders and this system are in place.
"America worships the idea of capitalism but there have been many fundamental paradoxes and contradictions in terms of how it's actually practiced," says Gillian Tett, U.S. managing editor of The Financial Times. The 2008 crisis "has forced us to rethink a lot of our assumptions, not just about Wall Street but much more broadly about how we run the economies."
Charlotte, North Carolina, the host city for the Democratic National Convention next year to renominate President Obama, has announced that it will not tolerate planned Occupy Wall Street demonstrations. Rather, the city council enacted a series of restrictions on the allowed locations in which protesters can demonstrate and the outright ban on overnight stays.
IN the annals of American excess, there often arrives a moment when those with too much money, too much clout and too much hubris just can t stop themselves from tempting the fates. They throw an over-the-top party in public, or parade their wealth and power before the press, and the next thing you know their world, and sometimes ours, has crashed.