What particular insights did that article yield? How little HCKL knows about the US?
If you read the rhetoric of many of the elite who get access to publish, you see something different: 1. America is a republic founded on the principle of subsidiarity. 2. The role of the federal government is to run foreign policy and the military. Yes, the ruling elite are caught on using the federal government and other somewhat more elusive entities to try and manage the current crisis. But what is most interesting is so far just how inconsistent they have been in doing it. They seem to have repossessed Freddie and Fannie because it was the federal government that actually created them in the first place. They interfered in AIG because of its size and diversity, and they don't want another Enron or Tyco. That point is tricky because AIG actually already underwent an 'Enron', whereby Hank Greenberg was forced out of control of the conglomerate. The last thing the feds would want is the AIG can of beans to be re-opened. They themselves might get blamed for it going under. Meanwhile the rest of the world has to be wondering why the only thing that won't get (in effect) nationalized in the US are savings banks (or institutions that act as savings banks). Now what seems to be taking place is Bush-Paulson asking the rest of the world to bear the immediate costs of all this federal intervention in financial markets because the creditor nations are going to have to hold the debt the US issues to cover it. Just as they have asked to float the wars of occupation, the expansion of the US military, the previous credit bubble, etc. CJ _______________________________________________ Marxism-Thaxis mailing list Marxism-Thaxis@lists.econ.utah.edu To change your options or unsubscribe go to: http://lists.econ.utah.edu/mailman/listinfo/marxism-thaxis
