I made the mistake of putting The Huffington Post into my daily rotation of morning coffee clicks during the 2008 elections, as I found it to be a lefty-leaning substitute for the sensationalistic tabloidism that Drudge provides from the Right. If I noticed that the editors of the HuffPo tended to run pretty much Any Damn Thing as long as it got them attention, I guess I suppressed that.
But…over the last year, the HuffPo has gotten damned unreadable. I guess I first noticed it with a series of opinion pieces (from one source) that informed “women” as a gender that they were “unhappy”. So, first, “You are unhappy”, and then: “Here’s why, and here are your marching orders to make it better.” The part of me that began to get uncomfortable and itchy when Babs Streisand told me to boycott Colorado back in the 1980’s started to feel that way again.
What has followed is a bunch of self-congratulating memes (“Roy Sekoff debates eating meat on MSNBC!” or “Roy Sekoff calls out Senator for compromising on legislation x!”) that led up to one of the stupidest boondoggles I’ve ever seen from my fellow lefties.
If you’re a HuffPo reader, you know what I’m talking about: the stupid and ill-thought-out “Move Your Money” campaign. Starting on Christmas (with a huge picture of Jimmy Stewart as George Bailey in “Wonderful Life”), the Huff has been exhorting its readers to take their money out of big banks like Bank Of America, Citi, and Wachovia and move them to smaller, community-run banks. On the surface, maybe there’s a speck of a good idea there: Wall St. needs to get slapped around, and perhaps if a huge number of people put their money into smaller banks, the folks at Citi and BoA might get the message. Right?
Wrong. For starters, let’s put aside that once again the HuffPo deigns to give marching orders to those of us who fancy ourselves liberals to act upon en masse. (Wouldn’t it be more liberal to say: “Bank where you fucking want to”?) What’s really funny is how stupidly ill-informed the entire “Move Your Money” thing was regarding community banks. These banks invest heavily in and with the Big Boys on Wall Street. The fates of the Wall Street banks and the Main Street banks are inextricably intertwined at this point. Any second-year finance major could have given the full disclosure here. Moving your money from Bank Of America to the Bailey Home & Trust doesn’t do any good, since Bailey Home & Trust turns right around and uses that money to invest in and with…Bank Of America.
Today was the hilarious death-knell for this half-witted campaign. The Independent Community Bankers Association today voiced strong opposition to the proposal by the White House to heavily tax “Big Banks”. That’s right, the small banks who invest so heavily in Big Banks came out and unsurprisingly voiced support for the folks with whom their lot is rather irretrievably cast. The Community Banks joined with Wall Street…and the folks at the HuffPo seem baffled.
I still consider myself a liberal Democrat. I find shit like this embarrassing and off-putting. For me it lends support and credence to the worst things my party is accused of by the other side, and it makes me realize that the left has its own Tea Party contingent.