Wednesday, February 01, 2023


I have some weird pet issues, like everyone, but SBF fits right in with my normal set of issues.
Sam Bankman-Fried can be understood as one of the chief financiers of reactionary centrism.

In early January, the progressive strategist Max Berger posted a deeply researched investigation into the year-end Federal Election Commission filings on his Substack, Party Time. Berger’s inquiry helps clarify the reactionary centrist network. Poring over the filings, Berger “found more evidence SBF was collaborating with AIPAC and Trump-supporting billionaires to stop the growth of the squad and the electoral left.” Further, “SBF wasn’t primarily funding groups that help Democrats defeat Republicans. According to FEC data, over 75% of the money SBF contributed to Democrats in 2022 went to groups that spent nearly all their money on competitive primaries in the Democratic Party.”

Berger contends that the Democratic Party operative Mark Mellman was the likely ringleader of a coordinated effort in Democratic primaries to drown left candidates in a flood of dark money. Funding for this reactionary centrist project came, as Berger documents, not just from SBF but also from right-wing billionaires like “Bernard Marcus (owner of Home Depot), Robert Kraft (owner of the Patriots), and Paul Singer (owner of Elliot Investment Management).” On an institutional level, reactionary centrism expresses itself through organizations like the United Democracy Project, Democratic Majority for Israel, Protect Our Future, Web3 Forward, and Mainstream Democrats. These groups spent a total of more than $70 million to shove the Democratic Party to the right.