By
Don Hudson |
Yahoo! Contributor Network
Sept. 2, 2012
CHARLOTTE, N.C.
—Back
in the '70s, before the NBA's Charlotte Hornets and the NFL's Carolina
Panthers came along, before Bank of America became the most beloved
corporation in America, my hometown was known for three things: 'Racin,
'Rasslin and Religion. Back then, NASCAR and pro wrestling were held in
tiny towns and venues, and evangelicals still held their revivals in
huge circus tents on the outskirts of town instead of megachurches.
ESPN, Ted Turner and the PTL Club changed all that.
The Washington Post once called Charlotte "the city that never wakes."
But really, we are the city that loves business. Don't be fooled by the
buckle of the Bible belt stuff. It's a smokescreen. Business, not
religion, is the god here. Trust me. We took our entertainment, the
three Rs, and turned them into gold. And then we started buying banks
and didn't stop until we had gotten two of the biggest in America, too
big to fail.
That's what they were protesting in Charlotte this weekend—the city's banking practices.
Now, with Charlotte's crowning moment, the
Democratic National Convention, only a day away, what Barack Obama needs to understand is that Charlotte is first and foremost a corporate town, a
Wall Street Journal
town, a commerce town. More than any other town in America that I know
of, Charlotte's yardstick is money. There is no state government here,
no big-name university, no labor unions
—the
normal tripod of liberal politics. In picking Charlotte, Obama chose
the town most likely to rebel at any thought of government regulation.
Casino capitalists
Truth be known, per capita, Charlotte's Wild West—a.k.a. California—banking
practices did more to wreck the global economy than any city in the
world. Sigh. So proud. Yet most bankers don't want regulations like
Glass Steagall put back in place. Just ask 'em. Secretly, bankers like
their odds in the current system of casino capitalism.
If they win, they keep the profits.
If they lose, taxpayers bail them out again.
(Yes Matt Damon. Inside Job II is here for the making.)
Sure, Charlotte has a Democratic mayor and a Democratic city council
and a Democratic county commission. But the business people in this town
are the ruling class, and they tell the political class how it's going
to be. All the bank leaders, mostly Democrats, voted for George W. Bush
in 2000 and most are supporting Mitt Romney this time. Why? Here's a
hint:
Business Week reviewed Peter Applebome's 1996 book
Dixie Rising
thusly: "With an astute eye and painterly writing, Applebome takes us
to such places as ultraconservative Cobb County, Ga., dollar-hungry
Charlotte, N.C ..."
When a friend came to work for Bank of America some 20 years ago, fresh
out of college, his uncle told him, "You're moving to the city with no
soul." I was downtown last weekend having wine at Wooden, and we were
looking down Tryon Street, a.k.a. Wall Street South. From the sidewalk,
it's a stunning scene: Platinum skyscrapers. Rococo arts museums. Swank
condos. All surrounded by tree-lined sidewalks, five-star Michelin
restaurants and surface parking lots full of BMWs.
Banktown's DNA
With prosperity came some soul. The bankers lured Johnson & Wales
main campus here, and the Queen City has become a great restaurant town.
But the DNA is business. Bank of America built out North Tryon, and
Wachovia built out South Tryon. As fellow taxpayers who helped bail out
Bank of America, we'd like to thank y'all. Everything is new here, kind
of an homage to the denizens of khaki-wearing young Republicans who come
from Wharton and UVA and Duke to make their millions in finance. Little
girls here don't dream of marrying a doctor; they dream of a banker, a
trader or a corporate raider.
Just like mommy.
At lunchtime, uptown Charlotte looks like a Delta Kappa Episolon
fraternity reunion from Chapel Hill as well-heeled 30-somethings in
khakis, Ferragamos and Polos wander back into the bank boxes for more
hours staring at screens. Richard Rohr, the brilliant Catholic priest
who visited here last year, once made the observation of bankers: "They
make nothing. No thing." They shuffle paper around all day, or they make
trades with a touch of a button but they make no thing.
His point was it is a disconnect from the soul.
There have always been very close ties between capitalism and religion here. Back in 1933, in the
American Mercury, Charlottean W. J. Cash wrote a story about Charlotte titled
Close View of a Calvinist Lahsa.
"One takes what the pastor of the First Presbyterian is thinking, or
takes what the Duke Power Company is thinking, and one arrives at the
editorial page of The Charlotte Observer—the
very living mirror of the Charlotte mind and a catechism for all true
believers. 'The Bible,' it appears, 'is the best textbook of biology.' …
The cotton mill barons, it seems, are Little Flowers, and the Duke
Power Company, a sort of orphan asylum for small, wet kittens."
Substitute "cotton mill barons" for bankers, "depression" for recession, and you have Charlotte 2012.
It's also human nature. If you're around people who are
millionaires
all day long, they are your peers. You want to live like they do. If
you missed the first wave of risk-free alpha, you can be sure our
would-be Rockefellers have their bets down before the next
too-big-to-fail crisis comes along.
Supply-side Jesus
Charlotte native
Billy Graham
got his big push in 1949, when at a tent revival in Los Angeles,
newspaper baron William Randolph Hearst heard him preaching a
pro-capitalism message. The Rupert Murdoch of his day, Hearst sent his
editors a two-word telegram
—for you kids that would be like Twitter
—telling
them to "Puff Graham." Hearst helped make the Charlotte native a
Christian star, pastor to presidents. By default , evangelical
Christianity and unbridled capitalism became America's twin religions.
Former
Charlotte Observer cartoonist and Pulitzer Prize-winner Doug Marlette once told me about an article in
Charlotte magazine,
"In Charlotte, everything is done under the guise of Christianity. But
it is not the God of Abraham, Isaac, and Jacob. It is the cult of
mammon. Charlotte is about money and moi.
"Me-first Christianity. It is the cult of narcissism. Everybody laughed
at Jim and Tammy Bakker, but they were the prophets of what Charlotte
is becoming today."
If religion and business are right out of the Republican platform, why did Charlotte not get the GOP?
From my sources, the GOP told Charlotte don't bother; we're not
interested in North Carolina's 15 electoral votes. We're going after
Florida and its 29 electoral votes. Great move, except, why the Ayn Rand
acolyte from Wisconsin and not Marco Rubio? Whatever. We in Charlotte
hope ya'll enjoyed the Grand Old Party—and by grand old party, I mean St. Pete, shuffleboard and Dirty Harry's moving soliloquy against aging.
Regardless, I think you can pretty much rest assured Charlotte's
bankers are back in the GOP fold. When Obama said the private sector was
doing fine, he got castigated. When Mitt Romney said
big business
was doing fine, partially because of sheltering money off-shore, he
might as well have been speaking for himself. He is big business, and he
is doing fine because he's sheltering money in the Caymans.
Welcome to Charlotte, Democrats!
Don't be fooled by religion. It doesn't matter if Romney is a Mormon;
the evangelicals who blast you for not being a Christian don't care.
It's a smoke-and-mirrors game. Mitt could be an agnostic Martian and
people would vote for him if they think he will help the economy. The
bottom line here, Mr. Obama, is the bottom line. If you can make it
here, you can make it anywhere.