The Democrats failed to make the most of a great moment in history because there was no Democrat brave enough, independent enough, to energize their party around the mandate for reform given to them overwhelmingly by the people in 2008.
Remember when everyone thought that the Republican party was dead, completely and utterly repudiated in 2008? And how they have risen from the dead!
Obama was a pawn of the moneyed interests before he even took office. He didn't sell out; he was a well engineered product with a well targeted brand, selected and groomed for it.
Less a politician than a thoroughly modern manager, Obama's primary objectives are to please his shareholders, whomever those may be. And they were certainly not the people who voted for him. He is not any kind of progressive or reformer once one scratches the surface.
That became clear in his first 100 days with his appointments. And in his defense, the Democrats on the whole have been throwing their constituents under the bus for the sake of Wall Street money since 1992. So Obama was not so much a betrayer as a fake, a member of the Wall Street wing of the Democratic party. He is always fumbling, and making excuses, but at the end of the day, he did as he was told.
The Democratic leadership has tried to bridge a gap between representing the people and fattening their wallets, and have ended up pleasing few. They won't become the party of the moneyed interests because they cannot sell out more deeply than their counterparts. And as for their traditional constituency in the working class, the only rejoinder is, 'the other guys are worse.' And the other guys say the same thing to their base about them. And no one is getting served, except the one percent.
I think that the 'other guys' are going to be worse, and people are just going to have to see how bad things can get, again, before they can get any better.
From an FDR 1936 campaign speech in Madison Square Garden:
"For nearly four years you have had an Administration which instead of twirling its thumbs has rolled up its sleeves. We will keep our sleeves rolled up.We had to struggle with the old enemies of peace—business and financial monopoly, speculation, reckless banking, class antagonism, sectionalism, war profiteering.They had begun to consider the Government of the United States as a mere appendage to their own affairs. We know now that Government by organized money is just as dangerous as Government by organized mob.Never before in all our history have these forces been so united against one candidate as they stand today. They are unanimous in their hate for me—and I welcome their hatred.I should like to have it said of my first Administration that in it the forces of selfishness and of lust for power met their match. I should like to have it said of my second Administration that in it these forces met their master."