TPM reports, in an article titled "With Traditional GOP Allies Defecting, Big Business Takes Sides With Obama," that Big Business is entering into the fray and it is not on the side of the Tea Party.
Having failed to persuade their traditional Republican allies in Congress to avert a government shutdown, business leaders fear bigger problems ahead, and they're taking sides with a Democratic president whose health care and regulatory agenda they have vigorously opposed.The Koch Brothers do not really represent the one thousanth of one percent who have real economic power. Many of them are at risk from the destruction of the world economy and a debt default will hurt them. Thing are going well for the ultra-rich, and they are tied to the health of the system.
President Barack Obama is embracing the business outreach, eager to employ groups like the U.S. Chamber of Commerce and Wall Street CEOs to portray House Republicans as out of touch even with their long-established corporate and financial patrons.
On Wednesday, Obama is hosting chief executives from the nation's 19 biggest financial firms. Moreover, the Chamber of Commerce has sent a letter to Congress signed by about 250 business groups urging no shutdown and warning against a debt ceiling crisis that they say could lead to an economically disastrous default.
The letter circulated by the Chamber of Commerce urges lawmakers to raise the debt ceiling "in a timely manner and remove any threat to the full faith and credit of the United States government."
Concerned, the Chamber of Commerce is preparing to participate in political primaries, protecting friendly lawmakers from conservative challengers. "Clearly we're getting to a point where we need a Congress that's going to be productive, proactive and create a stable environment for economic growth and job creation," said Scott Reed, a Republican political consultant who is advising the chamber on its strategy.
It will be interesting to see a civil war among the Titans of Big Capital.
Granted, they created the Frankenstein monster, but all the more reason for them to deal with it. Money still talks in Republican circles and it will be interesting to watch this war. Tea Party and Kochs vrs. Big Capital.
An interesting anti-Fascist coalition including Labor and Big Capital. It won't last, and should not since class struggle still continues, but it could put down the Tea Party.
Meanwhile, the Republican War on the United States of America continues.