by Robert Reich:'If you want to understand the intellectual and moral bankruptcy

of today’s establishment Democratic Party, I urge you to read this drivel that appeared recently on the oped page of the New York Times by Doug Schoen.

Schoen – whom Dick Morris brought into the Clinton White House in 1994, advised Hillary Clinton in 2016, and is now a political columnist for Fox News – is exactly wrong when he argues that Democrats need to become closer to Wall Street. His logic is why the Democrats are now in the minority almost all over America. And if they listen to him, they'll remain in the minority.
The most powerful force in American politics is anti-establishment. On the right, it’s the authoritarian anti-establishment – Bannon's vicious, nationalist, racist Trumpism. The only viable alternative is an anti-establishment democracy movement -- to get big money (and Wall Street) out of our politics, and reclaim our political economic system through fundamental reform. I’ve spent years fighting Dick Morris and his clones, like Schoen, on this. Beware them.'

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Why Democrats Need Wall Street

'Many of the most prominent voices in the Democratic Party, led by Bernie Sanders, are advocating wealth redistribution through higher taxes and Medicare for all, and demonizing banks and Wall Street.

Memories in politics are short, but those policies are vastly different from the program of the party’s traditional center-left coalition. Under Bill Clinton, that coalition balanced the budget, acknowledged the limits of government and protected the essential programs that make up the social safety net.

President Clinton did this, in part, by moving the party away from a reflexive anti-Wall Street posture. It’s not popular to say so today, but there are still compelling reasons Democrats should strengthen ties to Wall Street.'>>>

https://www.nytimes.com/2017/10/17/opinion/why-democrats-need-wall-street.html