{"id":7036910,"date":"2026-08-10T18:46:30","date_gmt":"2026-08-10T18:46:30","guid":{"rendered":"https:\/\/peraltafinancing.com\/uncategorized\/the-moronic-bullshit-of-the-third-way\/"},"modified":"2026-08-10T18:46:30","modified_gmt":"2026-08-10T18:46:30","slug":"the-moronic-bullshit-of-the-third-way","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=7036910","title":{"rendered":"The Moronic Bullshit of the \u201cThird Way\u201d"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p><b><i><a href=\"https:\/\/robertreich.substack.com\/p\/the-moronic-bullshit-of-the-third\" target=\"_blank\">\u2014 from Robert Reich&#8217;s Substack<\/a><\/i><\/b> <\/p>\n<p><img loading=\"lazy\" decoding=\"async\" height=\"240\" width=\"360\" src=\"https:\/\/substackcdn.com\/image\/fetch\/$s_!w3DM!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F76eea58f-3797-4c10-80d7-fda217e151d7_768x512.avif\" alt=\"\" \/><\/p>\n<p>Friends,<\/p>\n<p>The statements seem as belligerent as Pete Hegseth on a bad hair day. <\/p>\n<p>\u201cWe are preparing for the next war that is coming,\u201d <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2026\/08\/06\/us\/politics\/democratic-party-socialists-moderates.html\">says<\/a> Jonathan Cowan. <\/p>\n<p>Cowan is president of Third Way, described by <em>The<\/em> <em>New York Times<\/em> as a \u201cleading centrist Democratic group.\u201d Cowan\u2019s Third Way is preparing a $15 million war chest to \u201cdiscredit democratic socialism.\u201d <\/p>\n<p>Pointing to Dr. Abdul El-Sayed\u2019s victory in the Michigan Senate primary last week, Cowan warns that \u201cit is deeply troubling to see radical, far-left candidates winning in places that are potential presidential swing states.\u201d<\/p>\n<p>Well, I find it deeply troubling that faux centrist groups are declaring war on progressives in the pages of <em>The<\/em> <em>New York Times, <\/em>without the <em>Times<\/em> revealing who they really are.<\/p>\n<p>If you bother to look at the funding sources of Third Way \u2014 those that have been made public, that is (Third Way is structured as a 501(c)(4) social welfare organization that\u2019s not legally required to publicly disclose its donors) \u2014 you\u2019ll find a Star Wars cantina of billionaire megadonors, Fortune 500 CEOs, corporate dark money bundlers, and giant corporations.<\/p>\n<p>Odd that <em>The<\/em> <em>New York Times<\/em> chooses to describe Third Way as a \u201cleading Democratic centrist group\u201d without revealing that it\u2019s simply a Trojan Horse for corporate America. <\/p>\n<p>Third Way senior vice president Matt Bennett has even <a target=\"_blank\" href=\"https:\/\/www.thenation.com\/article\/archive\/third-way-majority-our-financial-support-wall-street-business-executives\/\">conceded<\/a> that \u201cthe majority\u201d of Third Way\u2019s donor support comes from the group\u2019s board of trustees, most of whom are from the finance sector. (That\u2019s the same Matt Bennett, by the way, who helped stage the infamous \u201cDukakis in a tank\u201d photo-op that <a target=\"_blank\" href=\"https:\/\/www.thirdway.org\/about\/staff\/matt-bennett\">helped sink Dukakis\u2019s 1988 presidential campaign<\/a>.)<\/p>\n<p>Here\u2019s Third Way\u2019s Board of Trustees (the most recent list available):<\/p>\n<ul>\n<li>Jonathan Vogelstein, chairman of New Providence Asset Management and senior advisor to private equity firm Warburg Pincus.<\/li>\n<li>David Heller, formerly global head of equity trading for Goldman Sachs.<\/li>\n<li>Bernard Schwartz (chairman emeritus), chairman and CEO of BLS Investments.<\/li>\n<li>David Horvitz, chairman of the board and CEO of SouthOcean Capital Partners, LLC and SouthOcean Investment Partners, LLC.<\/li>\n<li>David Coulter, managing director and senior advisor at Warburg Pincus, focusing on the firm\u2019s financial services practice, and former vice chair of JPMorganChase.<\/li>\n<li>William Daley, vice chairman of Bank of New York Mellon, former vice chairman of JPMorganChase, former board member of pharmaceutical companies Abbott Labs and Merck.<\/li>\n<li>John Dyson, chairman of Millbrook Capital Management, Inc. (MCM), a private investment firm that manages a manufacturing company, a vineyard and wine group, and a hedge fund.<\/li>\n<li>Michael Edwards, deputy CIO of investment adviser Weiss Multi-Strategy Advisors.<\/li>\n<li>Andrew Feldstein, CEO and Co-CIO of BlueMountain Capital Management, board member of PNC Financial Services Group, former managing director of JPMorganChase.<\/li>\n<li>Brian Frank, founder and managing partner of Declaration Partners LP, an investment firm seeded by the founder of a large private equity firm.<\/li>\n<li>David Greenwald, chairman of finance law firm Fried Frank, former international general counsel and a deputy general counsel of Goldman Sachs.<\/li>\n<li>Derek Kaufman, former head of global fixed income at Citadel and a member of the firm\u2019s Portfolio Committee, former managing director at JPMorganChase.<\/li>\n<li>Derek Kirkland, managing director and co-head of the Global Financial Institutions Group at Morgan Stanley\u2019s Financial Institutions Group in Investment Banking.<\/li>\n<li>Doug Lawrence, CEO of DPL Green Investment and also managing principal and co-founder of 5 Stone Green Capital, formerly a managing director at JPMorganChase.<\/li>\n<li>Joseph Zimlich, CEO of private family financial manager the Bohemian Group, board member of First Western Trust Bank.<\/li>\n<li>Mark Spilker, founding member of GPS Investment Partners LLC, chairman of Chiron Investment Management LLC, former co-head of Goldman Sachs\u2019s Investment Management Division, former president of Apollo Global Management, former member of Google\u2019s Investment Advisory Committee.<\/li>\n<li>Barbara Manfrey Vogelstein, former venture capitalist, former partner at Warburg Pincus and Apax Partners &amp; Co. Ventures.<\/li>\n<li>William Reeves, co-founder of BlueCrest Capital Management, former managing director at JPMorganChase.<\/li>\n<\/ul>\n<p>Oh, and Third Way\u2019s honorary co-chairs have included West Virginia\u2019s former Sen. <a target=\"_blank\" href=\"https:\/\/readsludge.com\/2019\/09\/24\/facing-climate-crisis-senators-have-millions-invested-in-fossil-fuel-companies\/\">Joe Manchin<\/a> and Arizona\u2019s former Sen. <a target=\"_blank\" href=\"https:\/\/prospect.org\/2019\/11\/08\/kyrsten-sinema-anti-net-neutrality-super-pac-comcast-lobbyist\/\">Kyrsten Sinema<\/a>. Enough said about its governing structure. <\/p>\n<p>In 2020, Third Way claimed that Bernie Sanders\u2019s Medicare for All plan would add more than $13 trillion to the federal deficit, although most other analyses \u2014 including one by the Koch-funded Mercatus Center \u2014 found that Sanders\u2019s plan would save trillions while providing healthcare to millions of uninsured Americans.<\/p>\n<p>Well, <em>of course<\/em> Third Way attacked Bernie\u2019s plan. Among Third Way\u2019s <a target=\"_blank\" href=\"https:\/\/www.prwatch.org\/news\/2020\/01\/13535\/centrist-third-way-funded-corporate-interests-attacks-sanders-iowa\">donors<\/a> are pharmaceutical giant Amgen, pharmacy benefit manager CVS Health (which acquired health insurance giant Aetna in late 2018), and health products and drug company Baxter International.<\/p>\n<p>Other corporate donors to Third Way are or have been members of the GOP-aligned <a target=\"_blank\" href=\"https:\/\/www.alecexposed.org\/\">American Legislative Exchange Council<\/a> (ALEC), a corporate bill mill that links lobbyists with state lawmakers. Amgen, Baxter Healthcare, CVS Caremark, DuPont, and trade groups the Consumer Technology Association and NCTA &#8211; The Internet and Television Association are members. <\/p>\n<p>Third Way donors have also given money to the Republican Attorneys General Association, which helps elect Republicans who <a target=\"_blank\" href=\"https:\/\/www.exposedbycmd.org\/2019\/12\/12\/gop-state-attorneys-general-fight-environmental-regulations-fossil-fuel-companies-bankroll-campaigns\/\">fight federal environmental and other regulations<\/a>. Among them, Entergy, Facebook, Google, and Reynolds American, according to tax records.<\/p>\n<p>Christopher Leonard, author of <em><a target=\"_blank\" href=\"https:\/\/www.simonandschuster.com\/books\/Kochland\/Christopher-Leonard\/9781476775388\">Kochland<\/a><\/em>, revealed that <a target=\"_blank\" href=\"https:\/\/theintercept.com\/2019\/08\/13\/koch-brothers-third-way\/\">Koch Industries secretly funded a report by Third Way<\/a> intended to promote the Republican free trade agenda to Democrats.<\/p>\n<p>After the Democrats\u2019 2024 election losses, Third Way argued that the party should reduce its dependence on small-dollar donors. In a five-page <a target=\"_blank\" href=\"https:\/\/www.politico.com\/f\/?id=00000195-5511-d4a2-afbf-dd7121940000\">memo<\/a> of \u201ctakeaways\u201d from the election, Third Way asserted that small-dollar donors\u2019 preferences \u201cmay not align with the broader electorate.\u201d <\/p>\n<p>The memo stopped short of naming alternative funding sources, but the implication was clear: Less grassroots support means more reliance on big checks from super PACs and wealthy donors, which is exactly what Third Way prefers. <\/p>\n<p>The memo also included calls to curb \u201cfar-left influence,\u201d adopt a \u201cpro-capitalist\u201d stance, and stop \u201cdemonizing wealth and corporations.\u201d <\/p>\n<p>* * *<\/p>\n<p>So, please, disregard whatever you may hear from Third Way or any other so-called \u201cleading Democratic centrist group.\u201d <\/p>\n<p>And pay no attention to headlines about \u201cDemocratic centrists preparing for war\u201d against a \u201crising Left.\u201d<\/p>\n<p>Instead, focus on what\u2019s <em>really <\/em>happening. <\/p>\n<p>Voters want people in power who are going to fight for <em>them,<\/em> and <em>not <\/em>for the super-wealthy or big corporations and Wall Street. <\/p>\n<p>This is especially true now \u2014 when the bottom 90 percent of Americans are struggling to pay the bills, a record portion of the nation\u2019s wealth is in the hands of the richest one-tenth of one percent, big corporations and Wall Street have never been as powerful, Washington has been taken over by legalized bribery and corruption, and there\u2019s no \u201ccenter\u201d between democracy and neofascism.<br \/><meta name=\"twitter:card\" content=\"summary_large_image\" \/><br \/><meta name=\"twitter:description\" content=\"There's no \u201cmiddle\u201d between neofascist corporatism and democracy.\" \/><br \/><meta name=\"twitter:image\" content=\"https:\/\/substackcdn.com\/image\/fetch\/$s_!w3DM!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F76eea58f-3797-4c10-80d7-fda217e151d7_768x512.avif\" \/><br \/><meta property=\"og:image\" content=\"https:\/\/substackcdn.com\/image\/fetch\/$s_!w3DM!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F76eea58f-3797-4c10-80d7-fda217e151d7_768x512.avif\" \/><br \/><meta property=\"og:image:width\" content=\"360\" \/><br \/><meta property=\"og:image:height\" content=\"240\" \/><br \/>_______<\/p>\n<div class=\"nodeauthor-info\"><span>About author<\/span><br \/>\nRobert B. Reich is Chancellor&#8217;s Professor of Public Policy at the University of California at Berkeley and Senior Fellow at the Blum Center for Developing Economies. He served as Secretary of Labor in the Clinton administration, for which Time Magazine named him one of the ten most effective cabinet secretaries of the twentieth century. He has written fifteen books, including the best sellers &#8220;<a href=\"https:\/\/amzn.to\/2HmwmQT\" target=\"_blank\">Aftershock<\/a>&#8220;, &#8220;<a href=\"https:\/\/amzn.to\/2IFP4lW\" target=\"_blank\">The Work of Nations<\/a>,&#8221; and &#8220;<a href=\"https:\/\/amzn.to\/2EwOAw7\" target=\"_blank\">Beyond Outrage<\/a>,&#8221; and, his most recent, &#8220;<a href=\"https:\/\/amzn.to\/2qlciGi\" target=\"_blank\">Common Good<\/a>&#8220;. He is also a founding editor of the <a href=\"http:\/\/prospect.org\/\" target=\"_blank\">American Prospect magazine<\/a>, chairman of <a href=\"http:\/\/www.commoncause.org\/\" target=\"_blank\">Common Cause<\/a>, a member of the <a href=\"https:\/\/www.amacad.org\/\" target=\"_blank\">American Academy of Arts and Sciences<\/a>, and co-creator of the award-winning documentary, &#8220;<a href=\"http:\/\/inequalityforall.com\/\" target=\"_blank\">Inequality For All<\/a>.&#8221; He&#8217;s co-creator of the Netflix original documentary &#8220;<a href=\"https:\/\/www.netflix.com\/title\/80127558\" target=\"_blank\">Saving Capitalism<\/a>,&#8221; which is streaming now. <\/div>\n<\/div>\n<p><script>(function(d, s, id) {\nvar js, fjs = d.getElementsByTagName(s)[0];\nif (d.getElementById(id)) return;\njs = d.createElement(s); js.id = id;\njs.src = \"\/\/connect.facebook.net\/en_US\/sdk.js#xfbml=1&version=v2.10&appId=189111304043\";\nfjs.parentNode.insertBefore(js, fjs);\n}(document, 'script', 'facebook-jssdk'));<\/script><script type=\"text\/javascript\" src=\"http:\/\/static.ak.connect.facebook.com\/js\/api_lib\/v0.4\/FeatureLoader.js.php\/en_US\"><\/script><script>\nwindow.fbAsyncInit = function() {\nFB.init({appId: 'your app id', status: true, cookie: true,\nxfbml: true});\n};\n(function() {\nvar e = document.createElement('script'); e.async = true;\ne.src = document.location.protocol +\n'\/\/connect.facebook.net\/en_US\/all.js';\ndocument.getElementById('fb-root').appendChild(e);\n}());\n<\/script><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u2014 from Robert Reich&#8217;s Substack Friends, The statements seem as belligerent as Pete Hegseth on a bad hair day. \u201cWe are preparing for the next war that is coming,\u201d says Jonathan Cowan. Cowan is president of Third Way, described by The New York Times as a \u201cleading centrist Democratic group.\u201d Cowan\u2019s Third Way is preparing [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":352295,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[109297],"tags":[3160,199578],"dealstore":[],"offerexpiration":[],"class_list":["post-7036910","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-democrats","tag-bullshit","tag-moronic"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Moronic Bullshit of the \u201cThird Way\u201d - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=7036910\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Moronic Bullshit of the \u201cThird Way\u201d - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"\u2014 from Robert Reich&#8217;s Substack Friends, The statements seem as belligerent as Pete Hegseth on a bad hair day. \u201cWe are preparing for the next war that is coming,\u201d says Jonathan Cowan. Cowan is president of Third Way, described by The New York Times as a \u201cleading centrist Democratic group.\u201d Cowan\u2019s Third Way is preparing [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fivemor.com\/?p=7036910\" \/>\n<meta property=\"og:site_name\" content=\"Som2ny Network\" \/>\n<meta property=\"article:published_time\" content=\"2026-08-10T18:46:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/fivemor.com\/wp-content\/uploads\/2026\/06\/chimplogo144.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"144\" \/>\n\t<meta property=\"og:image:height\" content=\"144\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/fivemor.com\/?p=7036910#article\",\"isPartOf\":{\"@id\":\"https:\/\/fivemor.com\/?p=7036910\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\/\/fivemor.com\/#\/schema\/person\/b85e3c3dc0e1daea076524dc8810c371\"},\"headline\":\"The Moronic Bullshit of the \u201cThird Way\u201d\",\"datePublished\":\"2026-08-10T18:46:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/fivemor.com\/?p=7036910\"},\"wordCount\":1245,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/fivemor.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/fivemor.com\/?p=7036910#primaryimage\"},\"thumbnailUrl\":\"https:\/\/fivemor.com\/wp-content\/uploads\/2026\/06\/chimplogo144.jpg\",\"keywords\":[\"Bullshit\",\"Moronic\"],\"articleSection\":[\"Democrats\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/fivemor.com\/?p=7036910#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fivemor.com\/?p=7036910\",\"url\":\"https:\/\/fivemor.com\/?p=7036910\",\"name\":\"The Moronic Bullshit of the \u201cThird Way\u201d - 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Som2ny Network","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/fivemor.com\/?p=7036910","og_locale":"en_US","og_type":"article","og_title":"The Moronic Bullshit of the \u201cThird Way\u201d - Som2ny Network","og_description":"\u2014 from Robert Reich&#8217;s Substack Friends, The statements seem as belligerent as Pete Hegseth on a bad hair day. \u201cWe are preparing for the next war that is coming,\u201d says Jonathan Cowan. Cowan is president of Third Way, described by The New York Times as a \u201cleading centrist Democratic group.\u201d Cowan\u2019s Third Way is preparing [&hellip;]","og_url":"https:\/\/fivemor.com\/?p=7036910","og_site_name":"Som2ny Network","article_published_time":"2026-08-10T18:46:30+00:00","og_image":[{"width":144,"height":144,"url":"https:\/\/fivemor.com\/wp-content\/uploads\/2026\/06\/chimplogo144.jpg","type":"image\/jpeg"}],"author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/fivemor.com\/?p=7036910#article","isPartOf":{"@id":"https:\/\/fivemor.com\/?p=7036910"},"author":{"name":"admin","@id":"https:\/\/fivemor.com\/#\/schema\/person\/b85e3c3dc0e1daea076524dc8810c371"},"headline":"The Moronic Bullshit of the \u201cThird Way\u201d","datePublished":"2026-08-10T18:46:30+00:00","mainEntityOfPage":{"@id":"https:\/\/fivemor.com\/?p=7036910"},"wordCount":1245,"commentCount":0,"publisher":{"@id":"https:\/\/fivemor.com\/#organization"},"image":{"@id":"https:\/\/fivemor.com\/?p=7036910#primaryimage"},"thumbnailUrl":"https:\/\/fivemor.com\/wp-content\/uploads\/2026\/06\/chimplogo144.jpg","keywords":["Bullshit","Moronic"],"articleSection":["Democrats"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/fivemor.com\/?p=7036910#respond"]}]},{"@type":"WebPage","@id":"https:\/\/fivemor.com\/?p=7036910","url":"https:\/\/fivemor.com\/?p=7036910","name":"The Moronic Bullshit of the \u201cThird Way\u201d - 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