Seige (a comment contributor in this Blog's open forum) has offered us all a brand new perspective to ponder.
Link to his relevant and very enlightening thoughts - (see second comment):
The Stimulus package is a facade - popup comment window
The Stimulus package is a facade - same link, but in a non popup window
And please feel free to add to this discussion.
1 comment:
Major industries have not been offered bailouts, thus far. The only industry offered a bailout is the financial sector and they have been recapitalized are about to have their toxic mortgage debt auctioned off with government subsidized funds.
The auto industry has been offered loans, but will eventually be sent to bankruptcy court. The government has not offered to bail them out. On the contrary, they have offered loans and worker supports only.
I have seen no evidence of this theory, although I would not discount it from evolving in the future.
I continue to return to my premise that Obama is frightened of the financial crime syndicate, since he has embedded his entire cabinet with former Trojan Horses of that syndicate. He only went after GMs CEO, Wagoner, because he could be made an example of. He was the guy who walked the plank for a price. Throw him to the vocal citizen wolves wanting a head no matter whose head. But his was the wrong head.
Obama was willing to talk tough with him because he has no power or bite. But, the financial crime syndicate has incredible bite. Big corporate thieves within banking, finance and monopoly corporations, especially those embedded deeply in the defense industry have incredible power.
Not one big headed banksta has been hung from the pole. Those who crashed the bus are still driving buses.
There is a lot to be said for what Krugman has been saying. Dean Baker, too. Taleb as well. Michael Hudson especially.
This summer will be very interesting!!!
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