Here is what William Black, Associate Professor at the University of Missouri, Kansas City, says about the think tank Third Way on his Huffington Post blog post titled "
Wall Street Uses Third Way to Lead Its Assault on Social Security."
Third Way, lobbyists for and from Wall Street who are leading the effort to enrich Wall Street by privatizing Social Security, was created by Wall Street to fool some of the people all of the time. I have written previously to expose their fictional claims to be a moderate or liberal Democratic group.
I showed that Third Way makes itself useful by providing a faux "liberal" or "moderate" "Democratic" quote machine that can be used to discredit Democrats and Democratic policies such as the safety net. I gave examples of how Third Way gave aid and comfort to the effort to defeat Elizabeth Warren and the effort to unravel the safety net. Third Way continues to prove that you can fool some of the people all of the time.
Let me attempt again to make the basic facts clear. Third Way is not a "liberal think tank." It does not take "a centrist approach." It is not run by "fellow progressives." It is not concerned with "protecting entitlements." It is not even a "think tank." Third Way is a creature of Wall Street. It's version of "protecting" the safety net was made infamous during the Tet offensive in Vietnam when the American officer explained that "it became necessary to destroy the village in order to save it."
Third Way is the Wall Street wing of the Democratic Party, which seeks to defeat Democratic candidates like Elizabeth Warren running against Wall Street sycophants like Senator Scott Brown and seeks to unravel the safety net programs that are the crown jewels of the Democratic Party. Wall Street's "natural" party is certainly the Republican Party, but Wall Street has no permanent party or ideology, only permanent interests. Third Way serves its financial interests and the personal interests of its senior executives. Wall Street has always been the enemy of Social Security and its greatest dream is to privatize Social Security. Wall Street's senior executives live in terror of being held accountable under the criminal laws for their crimes. They became wealthy by leading the "control frauds" that drove the financial crisis and the Great Recession. This is why Wall Street made defeating Warren a top priority.
Third Way is run by a man who Lautner terms an "acolyte" of Pete Peterson. Peterson is a Republican, Wall Street billionaire who has two priorities -- imposing austerity on America and privatizing Social Security. Privatizing Social Security is Wall Street's unholy grail. They would receive hundreds of billions of dollars in fees and ensure that their firms were not only "too big to fail," but "too big to criticize" if they could profit from a privatized retirement system. (We do not know who funds Third Way because it refuses to make its donors public. Given who dominates its Board of Trustees, however, the donors must be overwhelmingly from Wall Street.)
Third Way's self-description has some elements of honesty, admitting that it is "led by a prominent private sector Board of Trustees, drawn from finance, industry, academia, the non-profit sector and government." The order is revealing -- the board is dominated by finance, with a thin veneer provided by industry, and with the barest patina of "academics" and "government."
Third Way, founded in 2005, did not make the most recent list of top think tanks put together by the University of Pennslyvania.
