By Simon Johnson
The shadow primary for the Democratic Party is in full swing. What will be the ideas, themes, and messages that win support in 2016 – and will they carry the day in the presidential election?
You can vote now at the Big Ideas project on almost every viable proposal from the progressive wing of the Democratic Party. Expressions of interest will feed into conversations on Capitol Hill and with presidential candidates. Nearly 1 million votes have already been cast.
Voting ends Friday at noon. Currently, in the section on the Economy & Jobs, the proposal to restore Glass-Steagall is in third place; breaking up Citigroup is close behind. (Vote now for these or for your own priorities.)
I suggested Break Up Citigroup, but it is based directly on Elizabeth Warren’s December 12, 2014, speech on the Senate floor. (The Restore Glass-Steagall idea was proposed by Byron Dorgan, former Democratic Senator from North Dakota; Senator Warren has also proposed bipartisan legislation along these lines.)
Senator Warren made another powerful speech last week laying out what has gone wrong in America – and what can be done better in the future. She covers a lot of ground and lays out a compelling statement of the issues, including how to raise incomes for most Americans.
But everyone has to start somewhere, and this is where she begins,
We know that democracy doesn’t work when congressmen and regulators bow down to Wall Street’s political power – and that means it’s time to break up the Wall Street banks and remind politicians that they don’t work for the big banks, they work for US!”