Money The Return of the State
posted by September 30 at 10:37 AMon
Bush, by the way, is a Republican. He may not get his calls returned these days, but he is a Republican. That would be the same party McCain belongs to, and McCain, of course took credit for passing the bill that did not pass, after non-suspending his campaign and non-leading on the bill’s progress. In fact, he not only screwed up his leadership photo op, he also managed to encourage the wingnuttiest of the House Republican wingnuts (it’s socialism! Socialism, I tell you… like the Post Office, highways and Medicare!!) How great is that?Yes, this is precisely why I agree with the bailout. Its passing will bring to an end 30 years of unhindered neoliberalism. In the way the war in Iraq collapsed the neocon project, the housing crisis ultimately collapsed the neoliberal project. The bailout is the bullet in the heart of an ideology that marks the state as a burden and the market as the solution to all our problems. Globalization will for now not be about “the withering of the state,” but the coordination of a network of private interests (civil society) managed and stabilized by an international system of state powers. Down falls Wall Street, the neoliberal utopia; up rises the state and the socialization of financial planning. I can’t believe I’m alive to see this.
Taxpayers should wake up the politicians and ask them to tell Wall Street: “We want the same deal Warren Buffett got.” The Omaha billionaire announced he is playing White Knight to Goldman Sachs by investing $5 billion in the endangered investment house. What a big-hearted guy. Buffett is an old-fashioned capitalist who invests in companies for the long term and I am a big admirer. But Warren Buffett did not get to be a billionaire by committing public-spirited acts of charity. He plays to win.Yes, the socialization of winning is possible for the first time in three decades.