Is right wing racism being used as the flash to distract us from the magician's hands?
Before the theory, lets start with the fact. Pew Research's News Coverage Index shows a gigantic increase in media discussion about President Obama's race last week.
According to the NCI, from early February through mid-September, Obama's race was a significant factor in only 1% of the stories in which he was a lead newsmaker. (A lead newsmaker is someone featured in at least 50% of a story.)
Last week, Obama's race was a significant element in fully 25% of the stories in which he was the prominent figure.
MORE AT Pew Research Center, Race Captures Media Attention
Can we ask ourselves why? More importantly, can we ask why now? I have a theory.
First, I don't question that somewhere deep inside, there was a racist aspect to Joe Wilson's outburst at President Obama's speech. I don't question that Roy Blunt's decision to tell a monkey joke right now may have been informed by some degree of racism. I believe that racism was running rampant at the million moron march in Washington last weekend and that it had a role at the town hall circuses last month.
But I'm concerned that race (both the right wing's racism and our angst over racism) is being used strategically and it is a trap. Here's why.
As soon as health care takes leave of the front page, next up on the agenda is a national debate on banking and finance reform. This debate is many months overdue, it is critically important, like healthcare it is very complex, and one of the most powerful industries in the world doesn't want the debate to happen.
We need to debate regulation of derivatives, capital requirements for financial institutions, capital requirements for non-financial lenders, Wall Street compensation structures, executive pay in general, credit cards, consumer protections, bankruptcy law, foreclosure process, fine print, monetary policy, the role and independence of the Federal Reserve, the structure of the International Monetary Fund... the list goes on and on.
My question is who wins if instead of having a national debate over all these things, we have a racism steeped debate over red lining instead. Hint... it's only us to the degree that we work on Wall Street.
The right wing is being stoked to carry Wall Street's message that red lining, not banking and finance reform, is the problem. And we're being stoked to yell racism when they do. As soon as this distraction is joined by both sides.... Wall Street walks.