THE CORPORATE STATE, AKA CORPORATE FASCISM, AKA FASCISM
Now let me be real clear: I'm not in favor of bailing them out with one more penny, and frankly I'm not even looking for any form of "nationalization," or government-sponsored unwinding, or any of that jazz. They wanna declare Chapter 11, let 'em. They wanna go out of business, that's fine by me. Nevertheless, something strikes me as juuuuuuuust a tad inconsistent about Fauxbama's tough talk here. I can't quite put my finger on it, but this doesn't jibe with some of his other public statements lately.
Very briefly, let's review:
1. Detroit better get its shit together or we're gonna let it fail. Wall St. and the banking industry, on the other hand, are "too big to fail."
2. If the Big Three can't fix themselves, we're forcing them into Chapter 11! On the other hand, we will never "nationalize" Wall St. and the banking industry.
3. Extending on that theme, Detroit's creditors can basically go fuck themselves. Wall St.'s creditors, on the other hand, will be protected. Since many of them are banks themselves, they too are too big to fail.
4. Rick Wagoner, you're gone! The CEOs and other executives of Wall St. institutions, on the other hand, can't be fired because we need their "expertise." This expertise, apparently, focuses primarily on making risky investments and using tax dollars to make themselves richer.
In general, this is so fucked up I can't even explain it without breaking into a smirk. The government can just step into a private company on one hand, nationalize it, fire its CEO, and dictate its business policy . . . while simultaneously giving away our money to the world's wealthiest bankers with no conditions or requirements attached. None of this takes place through any sort of public debate, none of it has a contingency plan more than two steps down the road, none of it makes a shred of economic sense, none of it even passes the smell test of constitutionalism or American political traditions.
What's the goddamn difference between Obama and Hugo Chavez on one hand? Or Mussolini on the other?
I'd say the biggest problem here is how arbitrary the decision-making is, except it's not arbitrary. There's one set of rules for the biggest bankers . . . and another set of rules for everyone else. It's clear who runs this country, and it ain't the auto industry, it ain't Congress, it ain't the press, and it sure as hell ain't you & me.
Bow down to Wall St., people. They're your bosses. You work for them. You pay your taxes to them. They make the rules. Just hope they're kind enough to let you live where you want and raise your children under your own rules. Because if they decide not to, there doesn't seem to be a damn thing we can do about it.