Socialize That Speculation...Privatize That Profit!

So the Washington and Wall Street elite are still playing the “Socialized Speculator/Privatized Profit” game as they have for decades. It continually amazes me how the “Trust Us” attitude is so pervasive among them. Though I must admit it’s worked in the past to great effectiveness (Iraq War, FISA, etc.). All one is supposed to see on the surface is “The Sky Is Falling!” scenario. I mentioned in my last post how no detail is given about exactly what will happen if the current crisis is left unchecked. The old “It’s so bad we don’t want to panic you” mind set is definitely in play.

Here are a few points of what’s currently going on I want to mention:

1. Glenn Greenwald relates in his fine blog that Treasury Secretary Henry Paulson let Lehman Bros. fail, yet bailed out AIG. Turns out his old pals at Goldman Sachs, where he was CEO, had an exposure of $20 billion or so if AIG failed. Hmmm…

2. At fivethirtyeight.com, it’s noted that of 38 incumbent “toss-up races” only eight voted for the bill. Of the secure incumbents the vote was close to 50-50. Interesting is it not how obvious big money controls our Congress when the connection is thrust into the spotlight by a “crisis”? It doesn’t take a rocket scientist to figure out those toss-up incumbents were aware that a vote for the Wall Street-friendly bill would not go well with their constituents.

3. When this “crisis” was first announced, the impression was given that “any moment” the entire economic world would collapse without giving Mr. Paulson an immediate, absolute unmonitored control of $700 billion to bail out the bozos who ripped us off (i.e., the “speculator socialization” model). Well, here we are…some two weeks later and the sky has not fallen. This was just another imminent “mushroom cloud” tactic to try to push an agenda counterproductive to “we, the people.” What’s really painful is that we’re now being told that the $700 billion figure was an arbitrary figure pulled out of someone’s a**. This quote is from Forbes.com: "In fact, some of the most basic details, including the $700 billion figure Treasury would use to buy up bad debt, are fuzzy. 'It’s not based on any particular data point,' a Treasury spokeswoman told Forbes.com Tuesday. “We just wanted to choose a really large number.'" WTF!?!?

4. Now there is word out that a private telephone conference was held between the Treasury Department and “Financial Service Industry Members.” You can find more about this at nakedcapitalism.com. Another fine example of marginalizing the populace in order to keep them in the dark from the wheeling and dealing for the taxpayer’s money.

As each day goes by, more and more egregious (dare I say “illegal”?) behavior is being exposed by our elected officials (who are not representing those who elected them, rather, those who furnished the major bucks to get them elected) and their partners in Wall Street. This has got to stop. Hopefully, this uncovering of the rock these villains are conspiring under will stay lifted until the upcoming election. Perhaps the people will be smart enough to understand and do what they can at the voting booth, though, personally, I doubt it.

Another Fear Tactic

Senator Christopher Dodd and Representative John Boehner were on "This Week with George Stephanopoulos" yesterday. I don’t have the transcript, but the following took place during the interview (in general terms).

Both men told Mr. Stephanopoulos that when they were briefed last week about the fallout of the AIG and other financial institution failures and what the immediate results were going to be in the upcoming days (literally), the consequences were so horrifying that there was shocked silence in the room for 10 to 15 seconds.

Now here’s what gets me. Mr. Stephanopoulos asked them what was said that was so horrifying. Both stated that they wouldn’t relate exactly what was said in order to not “scare” the public, or to put it another way – “Trust us, it’s bad.”

Excuse me? Trust “them”?? We elected these people. Now that they are the “Elected Ones,” THEY feel it’s not in OUR interest to understand everything that’s happening? We are too “fragile” to hear what’s what? We poor, dumb folk just don’t unnerstan’ dem impo’tant thangs?

I’m sorry, but in my opinion (and I’m sure a lot of others) the biggest fear to have is fear of the unknown (or “fear itself” as Roosevelt once said). To not know exactly what is looming is worse than understanding and coping with the problems at hand. How dare these people (whom we elected!) pull this crap on us! I guarantee that those clowns in office think that everybody not in the Washington, D.C. establishment (or “elite”) are just a bunch of rubes who don’t know s**t from Shinola.

This is clearly another in a very long line of fear tactics that is being used by those in power to cow the people into letting them do whatever is necessary to benefit them and not us. Let me repeat: Them…not us. “If you don’t let us handle it they way we need to (read: “To further our interests and profits”), YOU will not BELIEVE what is going to befall you!” In other words, “Go shopping, we’ve got it covered – as long as you let us…or else!”

Just look at what happened. Treasury Secretary Henry Paulson originally was going to be given full authority to disburse $700 billion, not be held accountable for his actions and not even have to divulge what he did with the money.

This ramming through Congress an economic “fixit” bill is strikingly similar to the ramming through of the Patriot Act. In a major climate of fear, the Patriot Act was passed without even Congress taking a long, hard look at it. The end result was a severe cutting of our basic freedoms. Now here we go again. Who knows what will also be in this “emergency economic fixit bill”?

Fortunately, so far, clearer heads are prevailing today, Monday. This free hand Paulson was being given might not be so free once it all shakes out (and I certainly hope so). Dean Baker of the Center for Economic and Policy Research was on Amy Goodman’s “Democracy Now!” program this morning. He advocates that any banking outfit that comes hat-in-hand for any of our taxpayer money should be severely penalized for their actions, such as a major slashing of the salaries of the CEOs. I wholeheartedly agree.

The United States of Corporate Welfare

I’m a baby boomer, and ever since I was a child, all I ever got was how bad and evil Socialism was. Right on the heels of that was the dreaded “Communist” word. The Democratic Party (or “Liberals”) over the decades was harangued by the Right whenever they tried to help our citizens get social services that were needed (Universal Health Care, Social Security, etc.). Somehow this indicated a sinister Communist plot or some such nonsense.

Throughout the years all I’ve heard is Free Market, De-Regulation, and Laissez-faire. My God, it went on and on for decades. There was never any money for the lower or middle classes to enhance their lives; only somehow, there was always money (we’re talking trillions here) for illegal incursions into foreign lands, lending money to our “buddy, buddy” foreign countries, etc. Congress even continually raided the Social Security money stockpile leaving behind worthless IOUs among other reprehensible schemes. The reasons are obvious, I’m incensed about them and I’ll write about some of this egregious behavior another day.

What really gets me is now that those in power and the “money bags” corporations like Bear Stearns, Lehman Brothers and now AIG are getting OUR money for THEIR duplicity (if not outright criminal behavior) in money management. So the people’s “Socialism” (read: helping our fellow citizens in time of need) is a political borderline to the Godless Communists, yet corporate “Socialism” (read: let’s keep the good old boys from the Ivy Schools losing their money and prestige) is now accepted behavior. The spin is lovely: “They are too big to have them fold…the negative impact on the world market is too great.”

How many times over the years were our citizens sneered at and looked down upon if they were on that contemptible dole called “Welfare”? There were even “Welfare Queen” stories through the years. One was embarrassed to use food stamps.

But the well-fed, upper class cronies of the Bush Administration and the mighty multi-national corporations are using OUR taxpayer dollars to bail themselves out. Not their brothers-in-arms and the multi-nationals’ billions, but our money. Now “Corporate Socialism” will become the new social order and, still, the people of this country will not get Universal Health Care, Secure Retirement and government aid. This is disgraceful. As far as I’m concerned this is no longer a society embracing Capitalism. We are now the Corporate Welfare State (though the euphemism will be “bail-out”), and I do not see it changing in the coming decades.

Sadly, I’m convinced that whoever wins this election will maintain the status quo and keep the multi-nationals rolling in the dough through sweetheart deals and give them our taxpayer dollars when they collapse from fraud and mismanagement. I bet you none of the executives of these bailed out banks and mortgage companies will see a day in prison. Of course, we will still have no money to help the citizens of this country… Despicable.

The Time Is Now

OK, I’m going to throw in my two cents’ worth re the MSNBC Olbermann/Matthews removal of main election coverage for new host David Gregory. This is so sadly typical. In 2003, MSNBC dropped Phil Donahue, its highest rated program at that time, weeks prior to the Iraqi invasion in abject fear that the network would somehow be painted with an antiwar bias. Never mind that roughly 30% of the population opposed the war at that time and had very little voice in our country. Now, five and a half years later, this maneuver clearly demonstrates the continual mortal fear networks (MSNBC currently in the spotlight) have of the Right, the Republican presidential campaign machine and the Multinational Corporations in control. Anything contrary to their thinking is somehow “unpatriotic,” “biased” and/or “unfair.” Thus, forget “truth” and push the pap in order to keep the "Right" mollified.

I believe the only way to get the truth is to look at the Independent Media and blogosphere. I realize that a lot of bloggers and certain Independent Media have their own agendas, both right and left, but I believe there are those independents that do root out truth, unlike the Mainstream Shills of the Government who want us fat, oblivious, indifferent and complacent.

In my first blog I quoted Noam Chomsky, “It’s out there; all you have to do is look.” Unfortunately in this day and age, one needs to look at the Mainstream spin machines with a very cynical eye and really work hard to find the real truth being covered up. These are perilous times, and we must utilize due diligence to fully understand exactly what is going on and how to right this once magnificent ship called the United States of America. It will be a long process, but we need to start now.

I entreat anyone reading this to make up his or her mind to not listen to the manipulating “regular” press. It has lost all credibility. Nothing they spout can be trusted. Instead, hunt for Truth - find it and share it with whomever you can. We must permanently rid this Malevolent Power that is violently shaking our nation by the scruff of the neck and leading us down a very dark path.

Full, complete awareness is the first step.

The Pesky Independent Media

Now I get it. Arrest the Independent Media, who are the only ones devoting extensive coverage to the protests outside the Republican National Convention. That way, no one in this country can see an alternative view to the Super-Polished Republican Agenda being spewed at the Convention. The population will only get the multinationals-controlling Mainstream Media spin, thus giving that extra edge to the Repubs.

Of course, this lends the impression that there is virtually no objection to the “fine” attributes of the Republican Platform. And anyone who would have the temerity to object must be anarchists, or a least “Damned, filthy left wingers who hate our country.”

Unbelievable that esteemed journalist Amy Goodman was arrested (“Conspiracy to Riot”) along with two of her associates for merely covering the protests. Her real “crime” (in my opinion)? Twenty years of challenging the Establishment through her excellent journalistic skills.

Let’s also not forget all the other media representatives and the protestors themselves being unlawfully arrested. Of course, the main reason is to keep them off the streets until the Convention is over and then, for most of the arrestees, the charges will be dropped (see “violation of free speech”). This is what $50 million in security funds can get you.

True, some of them deserve arrest for destructive behavior; however, that does not give the authorities the excuse for generally sweeping up anybody they care to. This is another example of using a sledgehammer to swat a fly (see "Russia v. Georgia"). As many other bloggers are saying, the police actions are comparable to the Federal Government viciously impinging on our citizens’ rights as an excuse to catch terrorists. Tell me again…exactly how many of the million plus names on the air watch list are viable terrorists threats?

So here’s their plan: They’ll just eavesdrop on everybody, search everybody and confiscate everybody’s computers, notes, etc., so we can catch the dreaded terrorists hiding under every bed in America (see “There’s a Red under every bed” motif from the 1950s). If anyone “protests,” arrest them. And “they” say we’re winning this war against terrorism. Hah!

Reprehensible moral of this sordid tale: When the Corporate Representative Hatchet Men (read "Law Enforcement") are completely trashing the inalienable right to protest, best not to attempt to record the proceedings for posterity or you’ll get chewed up in the process.