In an op-ed piece published January 10 entitled “The Other Plot to Wreck America,” New York Times columnist Frank Rich denounces the criminal actions of Wall Street executives and the official cover-up of their operations. He correctly asserts that the havoc created by the bankers poses a threat to the American people “on a more devastating scale than any Al Qaeda attack.”
It’s unquestionable that the economic crisis has been devastating to millions of Americans, not to mention the rest of the world’s population. There continues to be the dread that another shoe is going to drop, and that the bankster frauds are continuing on the merry way as if nothing really happened. Such is the state of the nation: We’re waiting to see what the oligarchy has in store for us.
He writes: “Americans must be told how Wall Street gamed and inflated the housing bubble, made out like bandits, and then left millions of households in ruin.”
They’ve been told: They haven’t listened. Or, if they have, they don’t care. Look…250 channels of TV!
He accuses both parties and, by implication, the Obama administration of aiding and abetting the looting of the country by the banks. He points out, for example, the key role played by Clinton’s treasury secretary and former Citigroup executive, Robert Rubin, in dismantling the last vestiges of the Roosevelt-era bank reforms, and the complicity of Obama’s treasury secretary, Timothy Geithner, in secretly funneling tens of billions of taxpayer dollars to Wall Street banks in the government bailout of the insurance giant AIG.
So far, so good. I’ll let you read the rest of the article. The major point being that as long as liberalism (and I’d argue progressivism) is tied to capitalism, nothing is going to change. The bosses see that liberals and progressives are brought into the ruling duoparty through campaign donations and the like. It’s worked like a charm. Very few, if any, of the mainstream organs of liberalism and progressivism are calling for a break away from capitalism. A re-regulated capitalism seems to be what their hoping for, thinking of the glory years post WW II, where the US dominated the world in so many ways.
The difference between now and the end of WW II is that it’s the American economy which is in shambles, and it isn’t in position to triumph economically in helping the rest of the world recover from the economic crash.
Until the liberals and progressives are willing to make the break with capitalism, and see it for the predatory system it is, nothing will change. That’s the lesson we should be learning from the actions of Obama and the Democratic Congress. Their failure is making all of us economic slaves.