Tedisco/Murphy special election battle

Ire at Wall St Bonuses Is Now Factor in House Race

This story points to the narrative the RNC will be pushing – “Dems are the party of Wall St” – particularly if anger at Wall St continues or grows.

The Obama administration’s reliance on top Wall St figures and the Clinton administration’s complicity in deregulation makes this easier to sell than it ought to be.  The drive to deregulate and the ideological justifications for the huge disparities in wealth since the Reagan administration are fundamentally and overwhelmingly Republican creatures.

But this narrative serves two purposes.  First, it reflects the omni-present and knee-jerk PR/propaganda device of associating the opposing party with whatever people are mad at.  But second, it hides the causality of Republican ideology, particularly deregulation, in the present mess.   Hiding or glossing over the centrality of deregulation in the crisis will be an attractive prospect for the financial sector and much of the corporate world and we should expect a lot of funding to pour into forwarding this narrative and others that might work to the same ends.

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