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September 21, 2008

Crony Capitalism, brought to you by King Henry Paulson

If you want to understand how horrifically out of touch Treasury Secretary Paulson is with reality, just watch Meet the Press and This Week.

Let's get this straight: bailing out unbridled Wall Street greed is the only way to maintain the stability of the global economy. Only billion dollar banks deserve to be bailed out by the US taxpayers. Common home-owners, who cannot afford their mortgages are shit out of luck because they must take personal responsibility for accepting loans they could not afford.

CNBC reporters blithely called this bailout the creation of the socialist nation of America and their assertions went unchecked by the moderator. Let's be clear: socialist democracies place human needs at the center of government's responsibility. A treasury czar who dismisses the economic crisis of individual citizens out of hand is not acting in the interests of humanity, he is acting in the interest of corporate greed. His actions and the Congress' acquiescence to immediately agree to bail out Wall Street is the essence of crony capitalism.

Naomi Klein's shock doctrine theory is being played out. Congress is apparently willing to fall over itself to increase the imperial power of the executive branch. And Americans should accept a government bailout of billionaires because otherwise our lives will be irreversibly harmed. Don't worry about the guy next door getting kicked out of his home; that's his fault. Care deeply about maintaining corporate earnings for the top 1% of this country.

Crony capitalism and imperial reign. It's time to shout that the emperor has no clothes and that King Henry has to go.

Posted by cj at September 21, 2008 3:40 PM


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