1. After Abdul El-Sayed's win in Michigan, a DC-based advocacy group Third Way will now spend $15 million to attack 'the left.' They frame themselves as moderate Democrats. Why aren't they that spending money attacking the GOP?
The answer requires explaining who they are.
2. The board of Third Way has 33 people, and the vast majority - and I mean overwhelming - are Wall Street financiers interested in encouraging consolidation. The rest are corporate lawyers and lobbyists doing the same, plus a billionaire heiress.
3. For instance, the vice-chair of Third Way is David Heller, "formerly the Global Head of Equity Trading for Goldman Sachs." He's currently a private investor, with roles in alternative asset management and NYDIG, a bitcoin miner.
4. David A. Coulter is at private equity firm Warburg Pincus, formerly at J.P. Morgan in the Chairman's office.
Bill Daley is the son of Chicago Mayor Richard Daley. He's had lobbying roles at JP Morgan, Wells Fargo, and board seats at Boeing, Abbott Labs, Merck, and Fannie Mae.
5. A friend told me a story about Bill Daley, who was the Chair of Al Gore's campaign in 2000. She went up to him a few years after that loss, and gave him some words of consolation and complained about Bush. Daley looked at her and said, 'Don't worry, the right man won.'
6. One of the more noxious Obama officials is a man named Raj Date, the first head of the Consumer Financial Protection Bureau. He wasn't very good, but he then cycled instantly through the revolving door to finance. He's now a fintech and crypto lobbyist and investor.
7. John Dyson is the Chair of Millbrook Capital Management, "a private investment firm that manages a manufacturing company, the vineyard and wine group, and a hedge fund."
He's a former official in NYC Mayor Giuliani's administration.
Slow clap for that guy.
8. To make a quick point, these people have clear interests in government policy. They profit from lower taxes on capital gains, lax antitrust, less financial regulation, and more junk fees. They aren't 'moderate,' per se, they are just protecting the interests of capital.
9. There's Brian Frank, a financier who worked for tech billionaire Michael Dell.
There's Michael Edwards, former merger and acquisitions banker turned hedge fund CIO turned board member of Zippy, which does manufactured home loans, an area with significant regulatory issues.
10. There's more!
- Steve Galbraith, former Chief Investment Officer and Chief U.S. Investment Strategist at Morgan Stanley
- Derek Kirkland, Co-Head of the Global Financial Institutions Group at Morgan Stanley’s Investment Banking unit.
11. And there's Peter A. Joseph, founder of private equity firms Joseph Littlejohn & Levy and Palladium Equity Partners. He's also President of the Israel Policy Forum.
12. Derek Kaufman runs the Inclusive Abundance Initiative. Don't worry, though, he's got a finance background too. He was the Head of Global Fixed Income at the hedge fund Citadel and Global Head of Fixed Income in the Proprietary Positioning Business at JPMorgan Chase.
13. Sorry to get repetitive, blame it on Third Way.
- Doug Lawrence, former JP Morgan.
- Marc Spilker, former President of PE giant Apollo and former Goldman Sachs partner.
- Graves Tompkins, General Atlantic and ex-Goldman
14. Normally these boards have a people from a variety of backgrounds, it is really stark how the Third Way board is 80-90% finance guys with backgrounds at companies with Goldman or Morgan in the name.
15. I do appreciate board member Christine Varney, who was Obama's antitrust chief. She promised farmers in Iowa afraid of retaliation that she'd crack down on Monsanto. Then she didn't. She promised to go after Google. And didn't. She's big law firm Cravath.
16. There's Barbara Manfrey Vogelstein and John L. Vogelstein, both ex-Warburg Pincus.
And finally here's something a little different. Strauss Zelnick is the CEO of Take-Two, one of the major video game publishers.
Diversity!
17. Then there are corporate lobbyists Susan McCue and Thurgood Marshall, Jr. Yes, he's the son of that Supreme Court Justice, in case you want a reason to be nihilistic about everything.
There are a few more, but that's the gist. The $15m to attack the left is an attempt to prevent the Democratic Party from taxing capital or preventing mergers or monopolies. It has nothing to do with partisan politics in the way one might imagine. It's political insurance.
Most Americans think of political moderation or centrism as fair and even-keeled. Or at least they have. But 'moderate' or 'centrist,' hijacked by Third Way, means representing the interests of banker-Americans. And if that doesn't change, get ready for a lot more radicalism.
1. After Abdul El-Sayed's win in Michigan, a DC-based advocacy group Third Way will now spend $15 million to attack 'the left.' They frame themselves as moderate Democrats. Why aren't they that spending money attacking the GOP?
The answer requires explaining who they are.2. The board of Third Way has 33 people, and the vast majority - and I mean overwhelming - are Wall Street financiers interested in encouraging consolidation. The rest are corporate lawyers and lobbyists doing the same, plus a billionaire heiress.3. For instance, the vice-chair of Third Way is David Heller, "formerly the Global Head of Equity Trading for Goldman Sachs." He's currently a private investor, with roles in alternative asset management and NYDIG, a bitcoin miner.4. David A. Coulter is at private equity firm Warburg Pincus, formerly at J.P. Morgan in the Chairman's office.
Bill Daley is the son of Chicago Mayor Richard Daley. He's had lobbying roles at JP Morgan, Wells Fargo, and board seats at Boeing, Abbott Labs, Merck, and Fannie Mae.5. A friend told me a story about Bill Daley, who was the Chair of Al Gore's campaign in 2000. She went up to him a few years after that loss, and gave him some words of consolation and complained about Bush. Daley looked at her and said, 'Don't worry, the right man won.'6. One of the more noxious Obama officials is a man named Raj Date, the first head of the Consumer Financial Protection Bureau. He wasn't very good, but he then cycled instantly through the revolving door to finance. He's now a fintech and crypto lobbyist and investor.7. John Dyson is the Chair of Millbrook Capital Management, "a private investment firm that manages a manufacturing company, the vineyard and wine group, and a hedge fund."
He's a former official in NYC Mayor Giuliani's administration.
Slow clap for that guy.8. To make a quick point, these people have clear interests in government policy. They profit from lower taxes on capital gains, lax antitrust, less financial regulation, and more junk fees. They aren't 'moderate,' per se, they are just protecting the interests of capital.9. There's Brian Frank, a financier who worked for tech billionaire Michael Dell.
There's Michael Edwards, former merger and acquisitions banker turned hedge fund CIO turned board member of Zippy, which does manufactured home loans, an area with significant regulatory issues.10. There's more!
- Steve Galbraith, former Chief Investment Officer and Chief U.S. Investment Strategist at Morgan Stanley
- Derek Kirkland, Co-Head of the Global Financial Institutions Group at Morgan Stanley’s Investment Banking unit.11. And there's Peter A. Joseph, founder of private equity firms Joseph Littlejohn & Levy and Palladium Equity Partners. He's also President of the Israel Policy Forum.12. Derek Kaufman runs the Inclusive Abundance Initiative. Don't worry, though, he's got a finance background too. He was the Head of Global Fixed Income at the hedge fund Citadel and Global Head of Fixed Income in the Proprietary Positioning Business at JPMorgan Chase.13. Sorry to get repetitive, blame it on Third Way.
- Doug Lawrence, former JP Morgan.
- Marc Spilker, former President of PE giant Apollo and former Goldman Sachs partner.
- Graves Tompkins, General Atlantic and ex-Goldman14. Normally these boards have a people from a variety of backgrounds, it is really stark how the Third Way board is 80-90% finance guys with backgrounds at companies with Goldman or Morgan in the name.15. I do appreciate board member Christine Varney, who was Obama's antitrust chief. She promised farmers in Iowa afraid of retaliation that she'd crack down on Monsanto. Then she didn't. She promised to go after Google. And didn't. She's big law firm Cravath.16. There's Barbara Manfrey Vogelstein and John L. Vogelstein, both ex-Warburg Pincus.
And finally here's something a little different. Strauss Zelnick is the CEO of Take-Two, one of the major video game publishers.
Diversity!17. Then there are corporate lobbyists Susan McCue and Thurgood Marshall, Jr. Yes, he's the son of that Supreme Court Justice, in case you want a reason to be nihilistic about everything.There are a few more, but that's the gist. The $15m to attack the left is an attempt to prevent the Democratic Party from taxing capital or preventing mergers or monopolies. It has nothing to do with partisan politics in the way one might imagine. It's political insurance.Most Americans think of political moderation or centrism as fair and even-keeled. Or at least they have. But 'moderate' or 'centrist,' hijacked by Third Way, means representing the interests of banker-Americans. And if that doesn't change, get ready for a lot more radicalism.
yes
1. After Abdul El-Sayed's win in Michigan, a DC-based advocacy group Third Way will now spend $15 million to attack 'the left.' They frame themselves as moderate Democrats. Why aren't they that spending money attacking the GOP?
The answer requires explaining who they are. ... 2. The board of Third Way has 33 people, and the vast majority - and I mean overwhelming - are Wall Street financiers interested in encouraging consolidation. The rest are corporate lawyers and lobbyists doing the same, plus a billionaire heiress. ... 3. For instance, the vice-chair of Third Way is David Heller, "formerly the Global Head of Equity Trading for Goldman Sachs." He's currently a private investor, with roles in alternative asset management and NYDIG, a bitcoin miner. ... 4. David A. Coulter is at private equity firm Warburg Pincus, formerly at J.P. Morgan in the Chairman's office.
Bill Daley is the son of Chicago Mayor Richard Daley. He's had lobbying roles at JP Morgan, Wells Fargo, and board seats at Boeing, Abbott Labs, Merck, and Fannie Mae. ... 5. A friend told me a story about Bill Daley, who was the Chair of Al Gore's campaign in 2000. She went up to him a few years after that loss, and gave him some words of consolation and complained about Bush. Daley looked at her and said, 'Don't worry, the right man won.' ... 6. One of the more noxious Obama officials is a man named Raj Date, the first head of the Consumer Financial Protection Bureau. He wasn't very good, but he then cycled instantly through the revolving door to finance. He's now a fintech and crypto lobbyist and investor. ... 7. John Dyson is the Chair of Millbrook Capital Management, "a private investment firm that manages a manufacturing company, the vineyard and wine group, and a hedge fund."
He's a former official in NYC Mayor Giuliani's administration.
Slow clap for that guy. ... 8. To make a quick point, these people have clear interests in government policy. They profit from lower taxes on capital gains, lax antitrust, less financial regulation, and more junk fees. They aren't 'moderate,' per se, they are just protecting the interests of capital. ... 9. There's Brian Frank, a financier who worked for tech billionaire Michael Dell.
There's Michael Edwards, former merger and acquisitions banker turned hedge fund CIO turned board member of Zippy, which does manufactured home loans, an area with significant regulatory issues. ... 10. There's more!
- Steve Galbraith, former Chief Investment Officer and Chief U.S. Investment Strategist at Morgan Stanley
- Derek Kirkland, Co-Head of the Global Financial Institutions Group at Morgan Stanley’s Investment Banking unit. ... 11. And there's Peter A. Joseph, founder of private equity firms Joseph Littlejohn & Levy and Palladium Equity Partners. He's also President of the Israel Policy Forum. ... 12. Derek Kaufman runs the Inclusive Abundance Initiative. Don't worry, though, he's got a finance background too. He was the Head of Global Fixed Income at the hedge fund Citadel and Global Head of Fixed Income in the Proprietary Positioning Business at JPMorgan Chase. ... 13. Sorry to get repetitive, blame it on Third Way.
- Doug Lawrence, former JP Morgan.
- Marc Spilker, former President of PE giant Apollo and former Goldman Sachs partner.
- Graves Tompkins, General Atlantic and ex-Goldman ... 14. Normally these boards have a people from a variety of backgrounds, it is really stark how the Third Way board is 80-90% finance guys with backgrounds at companies with Goldman or Morgan in the name. ... 15. I do appreciate board member Christine Varney, who was Obama's antitrust chief. She promised farmers in Iowa afraid of retaliation that she'd crack down on Monsanto. Then she didn't. She promised to go after Google. And didn't. She's big law firm Cravath. ... 16. There's Barbara Manfrey Vogelstein and John L. Vogelstein, both ex-Warburg Pincus.
And finally here's something a little different. Strauss Zelnick is the CEO of Take-Two, one of the major video game publishers.
Diversity! ... 17. Then there are corporate lobbyists Susan McCue and Thurgood Marshall, Jr. Yes, he's the son of that Supreme Court Justice, in case you want a reason to be nihilistic about everything. ... There are a few more, but that's the gist. The $15m to attack the left is an attempt to prevent the Democratic Party from taxing capital or preventing mergers or monopolies. It has nothing to do with partisan politics in the way one might imagine. It's political insurance. ... Most Americans think of political moderation or centrism as fair and even-keeled. Or at least they have. But 'moderate' or 'centrist,' hijacked by Third Way, means representing the interests of banker-Americans. And if that doesn't change, get ready for a lot more radicalism.
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