Saturday, September 20, 2008

AV; Waddles and Quacks ...

This humble post began life as a comment/reply to Wendy's post about our Brave New Fucked Up Economic World ...
but it got longer than a comment should rightly be.

(when does a "comment" become a "post"? when the author says it does!)

Here goes ... (written after reading all the coverage this morning of the latest economic news in my local rag).

I'm wondering about that so-subtle attempt (see comments to Wendy's post) to directly link the greed of the money managers at FM1 and FM2 with the Clinton administration. This goes way beyond either FM, and lies at the rotten heart of the economic system. It's just a cold fact that not everyone can resist the lure of the "free market" and will take advantage of those that have principles and ethics. I suggest a viewing of the documentary "Enron: The Smartest Guys In The Room" before you go any further.

(I know that for me, when I was buying a house in mid-2001, that before long the dollars just felt more and more like monopoly money ... how could it be any less "game play" to folks who deal in the billions of dollars?)

The Good News
Today's news about bail-outs, wherein the US Govt is poised to take on faulty mortgage debt, and its acquisition of at least one financial giant - AIG (who a friend says has been recklessly buying its way into the insurance market at low-ball bids for the last 4-5 years ..), at the very least is good for one reason: the term "fascism" can be more easily applied. Fascism is what happens when Government merges with Corporation. This has been happening all along, but at least now it's right out there for the world to see. How can that be a bad thing?

And did you notice the "far-reaching new emergency governmental powers" on the edge of being granted?

But hey, at least this time it's a bi-partisan effort.

Weirder and weirder ...

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