The header might look like a joke but it is very serious and unfortunate for the victims "GAO Urges Treasury to Require Concessions >From AIG Stakeholders"(1)
As that articles tells that "the insurer rescued by taxpayers" (1) would need that “Treasury could require that AIG seek to renegotiate contracts with its employees, similar to the contract for retention bonuses with AIG Financial Products’ employees (1) Finally, taxpayers, stakeholders, retired people, etc. in other words, those whose voice does not count will pay the party, as usual It comes one day after a friend sent me an article that tells the story of AIG and its fate (2). Or rather, the infaust fate of those who have to pay its exhuberance, luxurious cars, dinners, etc. of course, taxpayers and employees who are fired, who else?. Oh! I forgot to say that executives will make an extraordinary sacifice, they will limit their bossues. Americans like to find one scapegoat, one person that, once indicted and evicted, let us forget the story, and let us think that "the system works, that was just an accident". But this time, some people does not think like that. All the idols of capitalism over the past three decades crashed. The assumptions and presumptions, paradigm and prognosis of indefinite progress under liberal free market capitalism have been tested and have failed. We are living the end of an entire epoch: Experts everywhere witness the collapse of the US and world financial system, the absence of credit for trade and the lack of financing for investment. A world depression, in which upward of a quarter of the world's labor force will be unemployed, is looming. The biggest decline in trade in recent world history – down 40% year to year – defines the future. The immanent bankruptcies of the biggest manufacturing companies in the capitalist world haunt Western political leaders. The ‘market' as a mechanism for allocating resources and the government of the US as the ‘leader' of the global economy have been discredited. (Financial Times, March 9, 2009) Mr. Joseph Cassano was not an accident. That article´s subheader "The global economic crisis isn't about money - it's about power. How Wall Street insiders are using the bailout to stage a revolution" (2) tells a lot. This crisis raises a fight for power. The crisis in USA is a fight for power. But not "we the people" versus them (capitalists, Armanized executives, etc.). "We the people" lost that fight decades ago. This is a fight between owners and executives. Yes, a typical Marxist fights of classes between bonussed and skilled executives against those who formally own corporations. Owners have no information, have no power, have nothing but a piece of useless paper or a record in a computer that says that "this little human being who likes to play that he or she is a capitalist owns a useless equity in that corporation", but that little human being has no right to learn what happens inside his or her property. Only executives know, only executives have such power. Executives know better, executives decide better, executives do better, executives deserve a luxurious life. And when something goes wrong ... rescue them, too big to fail and blah blah blah. Is not that the true power? No accountability. When Karl Marx described fights proletariat versus capitalism he did not know the modern classes. the executive caste. Here we have the so called Western capitalism at its best. But it is a trick, it is just PR. Capitalism died. Capital is useless, it is no longer a source of power. We just have to find a name for that new class and we will have the new top-down theory, the executivism or whatever we want to call it. Peace and best wishes. Xi (1) GAO Urges Treasury to Require Concessions From AIG Stakeholders http://www.bloomberg.com/apps/news?pid=20601087&sid=aY2Bvja9RELI&refer=home (2) The Big Takeover. http://www.rollingstone.com/politics/story/26793903/the_big_takeover/1 --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "World-thread" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/world-thread?hl=en -~----------~----~----~----~------~----~------~--~---
