Matt Stoller Profile picture
Dec 18 19 tweets 5 min read Read on X
1. You learn a lot about politicians when the spotlight is not on them. So I want to offer an observation about something Kamala just did - a quiet and almost wholly unnoticed favor to big business and Mitch McConnell - suggesting she would have been a problematic President.🧵
2. In late November, after the election, the Biden White House nominated two people for something called the International Trade Commission. The ITC is the body designed to address cheating by foreign companies who dump products to destroy US producers.

whitehouse.gov/briefing-room/…
3. The ITC is one of those places where free traders have run the roost for decades, crushing industry after industry by refusing to uphold anti-dumping law. It's also a place that few in D.C. care about. Domestic producers? Pffeh, who cares about steel and mattress imports?
4. The ITC recently had something of a revival over the past ten years, with some populist impulses since 2016, largely in response to the broader frustration at offshoring that Trump and then Biden reflected.
5. Well last month, Kamala cut a deal with Mitch McConnell and Chuck Schumer to get a Democrat named James Coughlan and a free trade Republican named Haley Craig nominated and confirmed to the ITC. And the reasons are weird and problematic. prospect.org/blogs-and-news…
6. The Republican, Haley Craig, is very talented, but a straight-up corporate free trader. She's a former Facebook employee and Chamber acolyte, an ex-Ted Cruz and ex-Pat Toomey staffer. She's exactly who you'd want on the ITC to subvert tariffs and domestic production. Image
7. McConnell got a big policy gain to stop what Biden and Trump are trying to do, which is bring production back to the U.S. The steel industry, for instance, gets harmed by bad decisions at the ITC. That's why the Steelworkers oppose these nominees.
8. But what about the other guy? James Coughlan is an official with the Export-Import Bank, and his views on dumping and IP isn't clear. So why is he nominated? He's the husband of Kamala's campaign chief of staff. That's it. That's the reason.
8. Now, it's weird to nominate someone in late November and expect them to be confirmed. But Ron Wyden, Mitch McConnell, and Chuck Schumer tried to accelerated the process to do this favor for the Chamber and Kamala.
9. Importers were overjoyed, with trade associations representing Amazon, Walmart, Google, Nike, et al supporting the nominations. Image
10. The hearing for Craig and Couglin in the Finance Committee was this morning. Ted Cruz, Dick Durbin and Ron Wyden were effusive about the nominees. finance.senate.gov/hearings/heari…Image
11. There isn't enough time to get these nominees a full vote vote, but the Senate can confirm with a unanimous agreement. Schumer, McConnell, Wyden, Cruz and both caucuses want to let this slip through since no one is noticing. Aka come on, man, let it go, these are *friends.*
12. I get McConnell's view. He's a die-hard free trader, he hated Biden's tariffs and he wants to kneecap Trump. But Kamala's approach is harder to justify. She's willing to let whole domestic industries get harmed to be nice to a staffer's spouse. And Schumer is going along.
13. Similarly difficult to understand are Republican Senators, nearly all of whom refused to object even though the R is a Chamber of Commerce friendly nominees who would hurt Trump's agenda. Remember, any one of them could have blocked these nominees.

Fortunately...
14. Several Senators expressed skepticism at the hearing today, including populist Democrat Sherrod Brown, who lost and will no longer be in the Senate come January.
15. Even better, one Senator actually stepped up to directly commit to block these corporate-friendly free traders making core elements of trade policy for years. That's Josh Hawley, a highly polarizing right-wing populist.
16. So it's unlikely these nominees get confirmed. And Trump will be able to choose different nominees. While I don't support Trump, his views on the need to restructure trade and strengthen domestic industries are reasonable, even if his approach is problematic.
17. Broadly, this out of the spotlight episode shows how little interest Kamala had in the work of governing. On the way as VP, one of her final acts is to try and give a job to a staffer's spouse, unconcerned about its impacts on tens of thousands of Americans. Just tawdry.
18. Kamala represents a certain approach to Democratic Party politics. Her view is politics is a club of insiders who are friends with each other, with no broader vision. Hopefully that era is ending. It isn't over, but it's clear that American people want more than norms.

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More from @matthewstoller

Nov 28
1. This is a useful response in terms of how to understand the Abundance theory of politics. Yglesias is making a *policy* argument about private equity. It's not bad! It depends! We have to be nuanced! Ok, that's true. So what's the problem?
2. People increasingly hear 'private equity' and associate it with pillaging. It's not always true; KKR has done a great job with Simon & Schuster. But it's often true. So demonizing private equity is like demonizing Wall Street - it's a symbol of a society with haves/have nots.
3. That's the *political* story that populists like Bernie Sanders and Donald Trump tell. It's a true political story, private equity billionaires are doing horrific things and corrupting politics. We all know that's true. But anti-populists don't like that political story.
Read 5 tweets
Nov 27
1. There's a fascinating dynamic among Trumpy venture capitalists trying to manipulate the right-wing for their own purposes. For example, here's vc Marc Andreesen saying the Consumer Financial Protection Bureau forces conservatives to lose their bank accounts.
2. Andreesen says the CFPB 'terrorizes' financial institutions and denies them access to the banking system, and says it is going after conservatives. But is that true? Well, as @dorajfacundo points out, the CFPB is doing the opposite.
3. As I've written, Director Chopra has been trying to use anti-discrimination law to *prohibit* debanking. thebignewsletter.com/p/who-loves-wo…
Read 9 tweets
Nov 22
Trump is a lot like Obama. He is about to destroy the Republican Party as badly as Obama destroyed the Democrats, and for the same reason. He's promised a realignment for the people, he's going to deliver a realignment for Wall Street.
Trump is also a godsend for Democrats the way Obama was for the Rs. In 2024, the Democrats are a spent force, dominated by horrible Obama retreads. By 2028 MSNBC will be gone and a wave of populists will have redefined the Dems as a renewed faction.
Obama and Trump jointly and fully buried the post-Cold War era of domestic politics. Obama took the moral currency of the civil rights movement and openly spent it on Wall Street, Trump proved that voters don't buy into the moral myths of the 20th century anymore.
Read 8 tweets
Nov 20
1. Identity politics is bad because it's fundamentally a con, a way of ensuring plutocrats control our society. It's the inversion of 'rights' to support authoritarian corporate power. Here are some examples.

*Stopping offshoring is racist.*
2. Regulating trillion dollar social media and search monopolists to protect children from addiction is actually an attack on gay people. wsj.com/politics/polic…Image
3. Another... Getting paid $1500/hour to help steal from chicken farmers is about women's empowerment. Image
Read 16 tweets
Nov 19
1. Since the new line on why antitrust is bad is the Spirit Airlines bankruptcy, let's talk about what is really happening. Here's a hint. The CEO of Spirit was paid a $3.8 million bonus the week before the bankruptcy. But you don't hear about that. wlrn.org/business/2024-…
2. What's really going on isn't a bad enforcement regime, it's a bunch of greedy incompetent airline executives blaming the government for not letting them violate the law for money. Let's start at the beginning.
npr.org/2024/11/18/nx-…
3. In 2022, there was a bidding war between Frontier and JetBlue over Spirit Airlines. Spirit's board hired a consultant to evaluate, who told execs/shareholders that the JetBlue deal was *illegal." They accepted it anyway since it was more money. financierworldwide.com/jetblues-38bn-…
Read 11 tweets
Nov 17
I dislike the nonprofit industrial complex because the feedback loop has fundamentally distorted both parties. Paul Sabin's history here is very good. But let's be clear, the legacy is Hillary Clinton and a bank-dominated society.
history.yale.edu/publications/p…
The nonprofit industrial complex is a Ralph Nader created world on top of which built most boomer politics. Example, Hillary Clinton got her start at the Children's Defense Fund. But the whole right-wing built their apparatus on top of it in the 1980s.
The fundamental argument underlying the nonprofit world is that foundation-funded lawyers are the public interest, because big government, big business, and big labor ignore consumers. It's a deeply anti-democratic framework.
Read 17 tweets

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