Progressive Breakfast for December 24

Morning Message

Wall Street Had a Merry Christmas. The New Year’s Still Up For Grabs.

Banks are already gearing up for a “lobbying blitz” aimed at rolling back more of Dodd-Frank. The President is likely to renominate banker Antonio Weiss to a key economic position. Wall Streeters are likely to join with other wealthy interests in another attempt to cut Social Security ... The President will be pushing for the Trans-Pacific Partnership [and] Congress will be fighting to give even more tax breaks to corporations and wealthy individuals ... If you’re looking for an easy political ride, 2015 isn’t likely to be your favorite year. But if you’re looking for political challenge and purpose, you’ll find more than enough to engage you in the next twelve months.

NOTE TO READERS: Progressive Breakfast will take a holiday vacation starting tomorrow, returning on Monday, January 5th. Enjoy the holidays and see you next year!

Obama Ends Year Strong

Obama gets a poll bump for Christmas. McClatchy: “A CNN/ORC poll released Tuesday showed 48 percent of Americans approved of Obama’s job performance … a 20-month high … [Gallup’s] had Obama at 47 percent over the weekend, the highest level of the year … [It was] the first time a majority in the [CNN] poll had been positive about the economy in seven years…”

“U.S. judge throws out Arizona sheriff’s immigration suit against Obama” reports Reuters: “A federal judge on Tuesday threw out a lawsuit brought against Barack Obama by an Arizona police chief who called the U.S. president’s sweeping immigration reforms unconstitutional, saying the plaintiff lacked legal standing in the case … An Arizona federal judge in May 2013 ruled that deputies of [Sheriff] Arpaio’s office had racially profiled Latino drivers.”

McConnell lacks a strategy for blunting Obama. McClatchy: “Cuba. Coal. Immigration. The Keystone XL pipeline … He’s eager to challenge President Barack Obama. That much was clear during a wide-ranging interview with McClatchy … Precisely what he will do to counter the president was less clear.”

Enviros have a 2015 wish list for Obama. TNR’s Rebecca Leber: “Designate [more] national monuments … Crack down on illegal fishing … Deliver a methane strategy … Veto the Keystone XL pipeline …”

Weiss Fight Simmers

Salon’s David Dayen slams Antonio Weiss for deals that cause layoffs: “…Weiss’ history symbolizes what has gone wrong with American-style capitalism, with its focus on financial engineering rather than creating good products people might want. His deal-making has led directly to tens of thousands of lost jobs and billions in bonuses and stock options for top executives and money managers, who in many cases loot the companies they acquire.”‘

W. Post’s David Ignatius slams Sen. Warren for fighting Weiss: “The revival of the U.S. financial system after the crash of 2008 is arguably the Obama administration’s biggest domestic policy success. But Sen. Elizabeth Warren (D-Mass.), in her jihad against Wall Street, seems determined to devalue this accomplishment — and to make financial expertise a mark of shame for Democrats, rather than a source of pride.”