Are latest developments a move towards the centralization of credit if only
out of recognition of how interconnected the national and global credit
system is, even if the precise words of the Communist Manifesto have not
been implemented in the direct mechanical and unequivocal way that was
What McCain proposes seems similar to what is already in place in
Japan. However, the government here certainly didn't nationalize any
insurance companies that I know of during that crisis in the late 90s.
It nationalized banks. A few observations from what I noticed of the
Japanese experience:
1. Nationalization was limited to duff banks, most notably credit banks.
I should have added that, unlike the banks, a slew of insurance
companies really did go bankrupt, with policy holders taking the brunt
of it. The other insurance companies that got to take over the
bankrupt ones got mostly
*This is Your Nation on White Privilege* September, 14 2008*By Tim Wise*
(Tim Wise is a nationally and internationally known writer/journalist, and
the author of White Like Me.) btw,
For those who still can't grasp the concept of white privilege, or who are
_http://henryckliu.com/page169.html_ (http://henryckliu.com/page169.html)
Too Big to Fail versus Moral Hazard
By
Henry C.K. Liu
The end of the Cold War and the global eclipse of socialist tenets have left
US faith in market fundamentalism with the aura of a natural philosophy. The
.
Asia Times, Sep 18, 2008
China's imploding US ally By Richard Komaiko and Chris Stewart
*
Maurice Greenberg
The collapse of US insurance giant AIG and its US$85 billion takeover by the
US government on Tuesday takes the US financial crisis right to the heart of
China's development as a
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
AIG was one of the great gaijin god entities that strutted around
post-bubble Japan. I think their most profitable racket was the
supplemental health insurance sold by 'American Home Direct'. Their
Japan division was making huge amounts of money until US management
got the brilliant idea of
Did Greenberg get Spitzer before Spitzer got him?
And will Spitzer now get blamed for the demise of AIG?
Interesting that this should be one of Spitzer's last crusades.
No wonder I got my cliched metaphors so crossed. Can of worms. Spill
the beans. Not can of beans.
I really doubt that the
Didn't see this in the Atimes piece (which looks somewhat like a
summary lifted from wikipedia anyway), but this item sure shows just
how connected AIG is with the Bush regime. And I can't help but
comment, wow, AIG's run on the Dow Industrials was something like a
glorious 4 years! It would be
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