I usually agree with Carrol when he expresses Mao's idea that capitalism won't fall by itself; the wall won't fall if it is not pushed. I wonder though whether that principle as been superceded , and Wall Street has fallen on its own. Summers, Geithner and O are dithering , Krugman says, and just about "everybody" says "don't just sit there, do something". But perhaps they have concluded that there is no solution, not even temporary nationalization ? The only solution is some kind of forgiveness of the big banks' debts , which would permanently destroy the full faith and credit of the finance capitalist institutions. Not to mention cause Red China to say to the world that capitalism is a confidence game; we played by the rules, and you cheated.
So , Obama says, "hell no I'm not going to be the one to declare the end of finance capital. The mob is already ready to lynch me as a commie. So, you all go get Rubin, Buffet, the CEO and Board of Goldman Sachs and the rest of the oligarchy , and announce on television that you have concluded that US finance capital is kaput." By the way, all of this demonstrates that it is Summers, a man, whose math skills are inadequate, since he was one of those who calculated the ingredients of the derivatives-kool aid punch that Wall Street drank. Well , roughly speaking _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
