Thread by @davetroy

1/Let’s talk about @AOC for a minute. What is she going on about? Blaming the president for not passing BBB and whatnot? Nevermind these are strawman arguments she has set up here, does she not see how Congress works? Manchin killed this. What is to be done but try again?

https://twitter.com/AOC/status/1471925062450221057

2/It seems her former chief of staff @saikatc put forth a “plan” a year or so ago suggesting how Biden could pursue a “BBB” effort without Congress, by repurposing the Fed around regional development loans. thenation.com/article/econom…

3/Now AOC seems to be suggesting that Biden should be “blamed” for not following Chakrabarti’s “perfectly good” plan. A plan that may or may not be constitutional because it cuts Congress out of the power of the purse, and likely has many other monetary policy implications.

4/She is basically threaten to harm the party (“Dems will not vote for”) and is extorting the party for failure to follow this “plan.” Chakrabarti while departed from her office is going on about the same thing this morning. “If only you tried my weird Fed loan plaaaan.”

5/This convergence on radically altering the role of the Fed aligns with the radical right and hardcore libertarian agenda and its worth asking if this “simple plaaan” is part of the same set of efforts. Given Chakrabarti’s ties to Thiel/Musk et al, I’d say that’s likely.

6/This needs a lot of ☀️ and inspection. When things boil down to, “I know, let’s just screw with the Fed,” that’s a warning sign.

It’s the #1 most hated target of the Atlas crowd, and coming from a popular Congressperson who came from a casting call led by fintech bros.

7/I know, I know, gnash the teeth… “leadership” this and “progressive caucus” that. Let’s boil this down to raw substance. AOC is pushing a weird plan to radically alter the role of the Fed designed by her fintech bro friend. Why? What’s going on here? Correct answers only.

8/For context, I posted this thread on AOC and Chakrabarti’s origin story yesterday. Since the two stopped working together directly I have been extending benefit of the doubt to her. But today’s episode raises red flags. 🚩

threadreaderapp.com/thread/1377267…

9/This WaPo piece also offers excellent context. I’m afraid what underlies this is a bad case of undue influence from Silicon Valley fintech types, which is what’s ailing us in so many other ways as well.

washingtonpost.com/news/magazine/…