Moyers & Company: Democrats, Not Just Republicans, Are Bowing Down to Wall Street

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Moyers & Company: Democrats, Not Just Republicans, Are Bowing Down to Wall Street

John R. MacArthur of Harper’s Magazine talks with Bill Moyers and argues that both major parties are abandoning the republic in pursuit of big bucks.

Jamie Dimon, Barack Obama and John Boehner whipping for Wall Street. (Credit: DonkeyHotey/flickr/cc)

Negotiators from the 12-nation Trans-Pacific Partnership (TPP) were in Washington this week for a new round of talks which they hope will lead them closer to agreement on the trade deal. President Obama has called passage of TPP a “high priority.”

This week, Bill speaks with outspoken veteran journalist John R. MacArthur, president and publisher of Harper’s Magazine, about the problems with TPP, which is being negotiated in secret, behind closed doors. MacArthur says that the “free trade” agreement will take jobs away from Americans: “I guarantee you, this is a way to send more jobs [abroad], particularly to Vietnam and Malaysia.”

Obama’s commitment to trade is just another example of his indebtedness to Wall Street for massive campaign contributions. Hillary Clinton, who MacArthur describes as to the right of Americans’ political beliefs, may be scaring off progressives looking to run in 2016 as she is “very much in harmony” with Wall Street.

“There are a lot of people who would make good candidates, but they’re intimidated by the Clinton fundraising machine.”

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