Isn't "Third Way" a Euphemism for Fifth Column?

The "Washington Wire" blog at the resolutely non-partisan Wall Street Journal features an article about "a new 52-page report from centrist Democratic think tank the Third Way" that warns against populist, redistributionist messages.

Who is this Third Way? According to Wikipedia: "The board of the Third Way is made up almost entirely of investment bankers and other Wall Street executives." Wikipedia cites as their source a Nation article from 2013, "GOP Donors and K Street Fuel Third Way’s Advice for the Democratic Party."

Buried inside the annual report for Third Way is a revelation that the group relies on a peculiar DC consulting firm to raise half a million a year: Peck, Madigan, Jones & Stewart. Peck Madigan is no ordinary nonprofit buckraiser. The group is, in fact, a corporate lobbying firm that represents Deutsche Bank, Intel, the Business Roundtable, Amgen, AT&T, the International Swaps & Derivatives Association, MasterCard, New York Life Insurance, PhRMA and the US Chamber of Commerce, among others.