Wednesday, May 22, 2013
Wednesday, May 22, 2013

The banksters take out their Lugar

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19 comments

The banksters take out their Lugar

POSTED: Tuesday, May 8, 2012, 8:29 PM

 

It's no surprise, but long-time Indiana Sen. Richard Lugar -- not even a moderate RINO but merely a conservative from before "conservative" was just another word for "crazy" -- is out of a job tonight. It's easy to blame Lugar's loss to a generic right-wing GOP rival as the work of the Tea Party -- except we've already established that the Tea Party failed to exist the moment that Fox News pulled the plug on its creation.

So who whacked Lugar?

It was the bankster in the kitchen with a lead pipe: (h/t Digby)

But it’s worth noting that a primary factor in Lugar’s desperate fight for reelection stems from the power of banking lobbyists. The Indiana Republican can be viewed as a demonstration of Wall Street’s political muscle. In the words of Politico, “The banking industry is making an example of Sen. Dick Lugar.”

In a rare loss for Wall Street, the Senate last year rejected legislation to delay a rule to limit the amount banks can charge businesses for credit card swipe fees. The financial industry mounted an incredible lobbying campaign — as Bloomberg reported, banks hired high priced K Street hacks, used conservative blogs like RedState, and developed Beltway advertising — to pass the measure. But a coalition of big box retailers, like Wal-Mart and Target, along with small businesses and other vendors, persuaded enough legislators from both sides of the aisle to kill the measure and limit the fees. The rule affected some $16 billion in bank profits.

Lugar was among the few Republican senators up for reelection in 2012 to vote against the banks. As Anna Palmer and Robin Bravender reported, bank lobbyists decided early on to use the Indiana primary today to make an example out of Lugar.

I for one have never believed that the Tea Party was Astroturf -- in the sense that these are real people with real unhappiness over the political state of affairs, But it's tragic the way that the Usual Suspects -- the Banksters and the billionaires like the Koch Brothers and the big corporations -- manipulate that populist anger to promote their highly non-populist agenda.

Meanwhile, the American people will still be held up...without a Lugar.


Will Bunch @ 8:29 PM  Permalink | 19 comments
19 comments
Comments  (19)
  • 0 like this / 0 don't   •   Posted 8:43 PM, 05/08/2012
    Will- you forgot to blame the omnipotent Bilderbergs.
    Mr. Smith
  • 0 like this / 0 don't   •   Posted 9:06 PM, 05/08/2012
    Additional proof that the Republican party is a coalition of ill informed ("keep your government hands off my Meidcare") religious fanatics who think listening to Rush/Glen Beck constitutes intellectual activity.
    mick-of-the-moment
  • 0 like this / 0 don't   •   Posted 9:29 PM, 05/08/2012
    As opposed to informed liberals who think even more massive government spending will lower the budget deficit. That's some intellectual activity ya got goin' there. Keep it up.
    jmc
  • Comment removed.
  • 0 like this / 0 don't   •   Posted 9:37 PM, 05/08/2012
    Anti incumbency plain and simple.
    RG
  • 0 like this / 0 don't   •   Posted 9:51 PM, 05/08/2012
    @jmc--Any Republican presidents/congresses reduce the deficit recently? How's that for intellectual activity
    mick-of-the-moment
  • 0 like this / 0 don't   •   Posted 10:36 PM, 05/08/2012
    Speaking of intellectual activity. How is your party doing with the gay marriage issue? It's obvious Obama won't touch it with a 10 ft poll. Black votes or gay votes? Hhhhhmmm that is a tough one. Internal prejudices are going to be the downfall of the "accepting and diverse" party. And this is coming from a republican who supports gay marriage.
  • 0 like this / 0 don't   •   Posted 10:05 PM, 05/08/2012
    How's that Democrat budget looking? Heading toward 4 years without the Dems offering a budget. A remarkable achievement!
    Mr. Smith
  • 0 like this / 0 don't   •   Posted 10:07 PM, 05/08/2012
    Ok there is evidence that Lugar voted against the banks. But what evidence exists that "the banking industry" affected the polls and how people voted? A $5,000 campaign donation? How can you write a piece making that claim without even an attempt at articulating or proving your theory? This is so irresponsible. You can't just type the words "credit cards" and "Koch Brothers" and "big corporations" and create a reality out of thin air. How did you get from point A to point B? Is everything just brain-dead propaganda from now on?
    tomhanks
  • 0 like this / 0 don't   •   Posted 10:39 PM, 05/08/2012
    Quiet you, Will Bunch doesn't provide substance. He uses keywords between his copy and paste articles. Ask him a question, he ignores you and moves on to his next copy and paste.
  • 0 like this / 0 don't   •   Posted 10:11 PM, 05/08/2012
    Tom, don't ask for evidence, it ain't gonna come. Innuendo and baseless accusations are Will's specialty. Which makes his calls for journalistic ethic so much more hilarious.
    RG
  • Comment removed.
  • 0 like this / 0 don't   •   Posted 10:51 PM, 05/08/2012
    My peeps are a hoot tonight, y'all. Maybe Will can blame it on the Kochs? http://www.statejournal.com/story/18236810/texas-inmate-has-strong-showing-against-obama-in-wv-primary
    montani semper liberi
  • 0 like this / 0 don't   •   Posted 11:18 PM, 05/08/2012
    Interesting though, that the Kochs and the banks would throw Lugar's venerable GOP Senate seat into play for the Dems in November. So I have to disagree and go with mick's theory.
    montani semper liberi
  • 0 like this / 0 don't   •   Posted 11:27 PM, 05/08/2012
    "As opposed to informed liberals who think even more massive government spending will lower the budget deficit." . . . It could happen. http://www.businessday.co.za/articles/Content.aspx?id=165584
    montani semper liberi


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Will Bunch, a senior writer at the Philadelphia Daily News, blogs about his obsessions, including national and local politics and world affairs, the media, pop music, the Philadelphia Phillies, soccer and other sports, not necessarily in that order.

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