This email went out to those who attend the weekly Common Purpose meetings:
From: Lisa Donner
Date: 2009/9/25
Subject: Common Purpose Meeting Tuesday at 3:30: reminder and important note
To:All
A reminder of the Common Purpose meeting on Tuesday afternoon at 3:30,
and encouragement to attend.We expect that a potentially significant funder for AFR will be at the
meeting this week, and that Michael Barr and or Diane Farrell will be
there, and available for updates on the full range of issues.thanks
Lisa–
Lisa Donner
Deputy Director
Americans for Financial Reform
Common Purpose is the weekly veal pen meeting where, as you’ll recall, liberal groups were smacked down for advertising against Blue Dogs and Rahm subsequently called them "fucking stupid" for doing so.
AFR is the HCAN of financial reform — absolutely toothless, set up to raise a bunch money for "financial reform" and never criticize anything the White House does. Have a look at their web site – it’s a Larry Summers wet dream.
I once called them "utterly and completely useless," but it appears I was wrong. They do have a purpose, namely — invite a big funder, Larry Summers’ Deputy Director of the White House Economic Council (Diana Farrell) and an Assistant Secretary of the Treasury (Michael Barr) to a weekly meeting run by a lobbyist (Erik Smith), to demonstrate what happens if you play ball and never question the Summers squad.
So basically, the White House is now fundraising for the veal pen to keep them in line and make sure they don’t do anything that might cause them grief, like — oh, I don’t know, back the progressive members of Congress who are actually standing up for real health care reform and resisting Rahm Emanuel’s neoliberal vision of a taxpayer funded, insurance industry bailout.
When Chris Hayes first wrote about AFR, he described them as a "small community of progressive finance reform advocates" that "has set itself the Herculean (but desperately needed) task of countering the voices of the Men in Suits during the coming battle over financial regulation." I guess if you think the White House has done a bang-up job of "countering the voices of the Men in Suits," you’re probably going to think that standing on the sidelines cheering for them means "job well done" for AFR.
If, however, you think that the White House has become completely captive to Wall Street interests and hasn’t done a damn thing but bail them out and deep six any kind of meaningful reform, then AFR’s failure to do anything but echo those efforts can be chalked up to yet another failure of the coalition model.
But hey, they’re raising a shitload of money, so who cares, right?




23 Comments

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Unf@#ging real.
As always, thanks Jane.
It took me a long time and plenty of background reading to be confident in viewing the WH complicity with Wall Street as a symptom of captivity, or ‘identification with the aggressor’.
I kind of long for the era when ‘what was good for GM was good for America’.
Today, it seems that what’s good for Goldman Sachs, tax havens, money launderers, and corporate management is basically being underwritten by the American public.
You’d think the WH would at least be sensitive to the optics, even if they’re too hapless to turn Wall Street inside out.
Jane,
You know the system sucks.
Why try to work within the system.
If we all chipped in and raised 3.2 million bucks, do you think Mad Max would listen to us? Magic 8-ball says: not enough information.
Triggered financial regulation and oversight.
That’s change that Goldman can believe in.
Praise the
LordBailout and pass theammunitioncontribution plate.Keep up the pressure, Jane.
Great work Jane – I am so DEPENDENT on you – kinda like “a fix”. Thanks!
Jane, if you need someone to go to one of the financial reform meetings, just let me know. I particularly like the meetings with money available.
So there’s money in shutting up and being good little boys and girls?
I hope they choke on it (metaphorically speaking of course).
How can they not see that this is about making the country better for us?
How sad for us and, ultimately, them.
It just now occurred to me that Obama is using the same strategy with liberal groups that Petraeus used with Iraqi warlords. A buy-off is a buy-off. Perhaps the silver lining here is that it comes with the same risk: once the money dries up [and it will] all hell will break loose… Of course, in our case, tons of damage is done to the cause while silence is bought.
It is sad. They don’t realize that without “us” there is no “them.” It’s called the food chain in other situations.
Screw that. I want my money back. I’m going to total up the campaign contributions I made and send them an invoice.
Who is in charge of looking for a progressive candidate for president in 2012? (And someone with a spine, please.)
Glad you are beginning to pick up one of the next big fights we will have to get real reform. The issue is what exactly is the real reform of the financial industry that is possible with this Congress and who are the Max Baucuses and Mike Rosses in the process.
emptywheel is upstairs!
More Zazi Justifications for PATRIOT
Time to defund the veal pen?
Who is in charge of looking for a progressive candidate for president in 2012?
You gotta be kidding me.
Does Barack Obama have the moral decency and spine of Jane Hamsher? If he does, we’re in fine shape. If he doesnt, Jane, can we get you to run???
On second thought, don’t run Jane … they’ll “get” to you, too … they’ll start turning you into another moderate republican rite after the election.
Jane Hamsher is upstairs!
Nebraska Democratic Party Passes DFA/FDL/Credo Resolution In Support of Public Plan
Has Chris changed his mind?
I have such a crush on Chris Hayes. Am I going to be disappointed? [Insert sad emoticon here.]
Pardon my ignorance, Yet I could really use to have this all spelled out in words of one syllable.
What is the origin and meaning of the slang “veal pen” ? I gather it refers to tame liberal non-profits, are there other implications and nuances I need to understand?
What groups exactly are we talking about here? I want to know who to avoid helping. Can we name names? My knowlege of DC nonprofits is not large, is this Common Cause, the Sierra Club, or just who? ACORN? who’s in and who’s out of this pen?
Without this knowlege my ability to process the import of this article remains unfinished …
See Cornel West’s take on Lawrence Summers:
http://www.democracynow.org/20…..on_his_new @ 43:00