While the Republicans are still going through their Tea Party civil war of small-business anti-government conservatives vs. a more corporate mainstream, Democrats are showing signs of a similar split between the Wall Street wing of the party and more liberal true-believers.
See, for example, this Dec. 2 attack on Sen. Elizabeth Warren, D-Mass., and New York mayor-elect Bill de Blasio, and their support for a plan to expand Social Security and the taxes that pay for it, waged by two staffers for the Washington group Third Way, in the Dec. 2 Wall Street Journal. Who is Third Way? Its 12 "honorary Co-Chairmen" are all Democratic U.S. Senators and congressmen, including three from the Philadelphia area -- Sens. Tom Carper, D-Del., and Chris Coons, D-Del., along with U.S. Rep. Allyson Schwartz, D-Pa. Its Board of Trustees is dominated by men like David Coulter (ex BofA and JPMorgan) and David Heller (ex-Goldman Sachs) and other bankers and hedge fund managers -- the kind of Summers-Rubin Democrats whose deregulation helped bring us the 2008 financial crisis. The kind who push fiscal restraint over expansive public benefit programs.
In the resulting liberal backlash, Schwartz promptly backtracked -- she's the early front-runner in Pennsylvania's Democratic gubernatorial primary, and needs to polish her liberal cred, after all. Carper and Coons, by contrast, are acting in a long Delaware tradition of Democrats who support banks and financier-friendly policy as major hometown employers -- as did their predecessor, former U.S. Sen. Joe Biden, the former "Senator from MBNA," who in the mid-2000s brokered the law limiting personal bankruptcy at the request of the credit card and student lenders who remain among his home state's biggest employers.