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How Wall Street lobbyists created the 'socialist' smear

Fri, 06/29/2012 - 15:31 — Dave Culver
Section(s): 
Business
Critical Thinking

They created the myth that reformers were communists or socialists, while Wall Street and business represented the real America.   

Charles Geisst, Bloomberg

American history is full of fractious political battles similar to those of the past decade. At the heart of most usually lies an organized special-interest group opposed to the White House and its policies.
Perhaps the most famous of them was the short-lived American Liberty League.

The league was officially founded in 1934, a year and a half into President Franklin Delano Roosevelt's first term. Its predecessor organization, the Association Against the Prohibition Amendment, had successfully lobbied for repeal of Prohibition in 1933. Its personnel moved to the new league, ensuring a quick startup for its activities.

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