Wall Street Democrats' fear of Elizabeth Warren reminds us that they opposed the New Deal too.
A few years ago, the joke going around was that a cocaine habit was God’s way of saying you have too much money.
Franklin Roosevelt’s opinion of the league was withering. “The two particular tenets of this new organization,” he told reporters, “say you shall love God and then forget your neighbor.
The Liberty Leaguers already had been seduced by their distaste for the New Deal into investing in the political career of a suspender-snapping Southern bigot, Georgia’s Democratic Gov. Eugene Talmadge.Talmadge was a reactionary who had come to big business’ notice by promoting such crude anti-labor nostrums as concentration camps for strikers and moving on to attacks on New Deal reforms.
Deposited on every seat in the hall was a race-baiting magazine clipping depicting Eleanor Roosevelt and members of the administration in the company of black people, along with an editorial praising Andrew Jackson for not allowing “Socialists, Communists, and Negroes to tell him how to run these good old United States.” Broadcast nationally, Talmadge’s openly racist keynote speech ended his national career.
The Mayflower dinner was a different kind of event. Its most glittering ornament was Alfred E. Smith, the Democrats’ 1928 presidential candidate, Franklin Roosevelt’s predecessor as governor of New York, and an increasingly strident critic of the New Deal, whose keynote was to be broadcast nationally.
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