He does have a couple of good points that are worth noting. He argues that it is, "hypocritical for Democrats to maintain ties to Silicon Valley and then turn their backs on the very people who help finance its work." Well financing its work has nothing to do with the time of day. Should we not prosecute a restaurant engaged in money laundering because they serve food to Silicon Valley types?
But Schoen does have an argument that many Silicon Valley types (think Facebook, Google, and Uber) are engaging in practices that are as corrupt and harmful to the economy and society as the financial industry. It is hypocritical to give these Silicon Valley practices a green light while going after Wall Street.
And Schoen scores big in pointing out:
"In the 2016 election, the Center for Responsive Politics reports, employees and companies in the securities and investment industry donated more than $63 million to the Democratic Party."
Yes, it takes a lot of money to run a political campaign and Wall Street has helped to foot the bill for the Democrats in a big way. So they may own them. Bernie Sanders' campaign was truly revolutionary in not being dependent on big money ties, but it remains to be seen whether this has set a pattern that can be followed by other candidates. But Schoen is certainly correct that Wall Street money has bought a lot of Democratic politicians in recent decades.
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