It’s the debate of the moment in the Democratic Party today. The Glass-Steagall Act which separated commercial and investment banking went from being something no one was against from 1933-1999, then something no one was for circa 1999-2014, and now is finally part of a vigorous debate. On the one side is the “Break up the big banks!” call from the Sanders wing and on the other is the much smaller “Yes, but it’s way more complicated than that!” voice of the establishment, usually Hillary Clinton.
It was the hottest topic at the last Democratic Debate on 13 October and it continues today. Your stand on it probably identifies who you back for president as well as your status in the Democratic Party. But is it worth all the hoopla?
Call me a pale male establishment type, but this is not a good argument.
Robert Reich is a great leader in the Democratic Party. After serving as Secretary of Labor from 1993 to 1997 he became a fixture in thoughtful magazines, speeches, and talk shows. He is currently a Chancellor’s Professor at the Goldman School of Public Policy at UCal, Berkeley.
Reich has recently collaborated with moveon.org to create a series of short videos describing “The Big Picture” – things which need to be done to transform our economy into a more dynamic, fair, and productive new economy for a post-depression world. Taken together, I believe these make up a new platform for the Democratic Party which must be a central organizing piece for the elections in 2016.
Whether or not you agree with Reich, he and this platform are a force to be reckoned with.
Since I have yet to see them presented together in one place as a coherent work, I have taken the liberty of doing so myself. Each item is presented here with the title as a link to the original post on Reich’s blog, with the short video above it. Please follow the links for more information in Reich’s own words.
Initially, this project was billed as “Ten Ideas to Save the Economy”. There are now 12 videos in the series, branching out a bit into political reform. If there are more they will be added later.
In the stillness of a cold winter day, obligations chilled between frosty holidays, two years stretch out in a lounging recline to define the moment. One is the year past, and the other is the year ahead. For the whirl of politics, defined in soundbites and constant lobbying, the break is an unusual calm for clearer heads.
Next year, 2015, will be the year in which the campaign for a new President takes shape. That will in turn define 2016 in politics and set us up for what is certainly shaping up to indeed be the Year Everything Changes in 2017. For the long journey that will come to define whatever hero we place in the office to define our world at the start of the next boomtime. For all that, it is shaping up to be one person who can take it – if she really does want it.
This next year is likely to be the one that defines Secretary Hillary Clinton, and in so doing may define the next great era of the United States. It’s all about how she manages “inevitability”.