There is a real battle going on with the Occupy Wall Street demonstrations, but it is not the one the media is telling you. It’s not about the demonstrators and the financial community, or even the rich. It is not even about President Obama vs “rich and greedy Republicans”. It IS about the battle for the future of the Democratic party if Obama goes down to defeat, as looks increasingly likely.
Obama rode to power thanks to an unlikely combination of lefty activists and big donors. Wall Street was a huge part of that donor base, and is clearly peeling away from the president as he gets becomes mired in the failure of his own record.
Hell hath no fury like a politician scorned. Obama desparately needs a scapegoat to deflect the blame for his miserable economic performance, and now that the financial ties have loosened with Wall Street, the moguls are expendable. Of course, the lefty base loves bashing bankers, so Obama gets to recharge the one component of the Democratic coalition that still believes in him.
The other components are up for grabs. And the Clinton wing of the party is ready to do the grabbing. President Clinton is identified in the public mind with economic success, and the public increasingly perceives that the Democratic party made the wrong choice in 2008 when it so stunningly dissed Hillary Clinton.
The lefty nutroots can’t stand the thought of the Clintons returning to power and influence in the Democratic party in a post-Obama world. They castigate the Clintons as pragmatists, sell-outs and tools of the financial community, which thrived so vigorously under their reign.
Make no mistake about it. The biggest internal battle of the Democratic party since the Vietnam convulsions is about to take place. And that’s what this is really all about.