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This represents a huge shift of the control of our ecomony from Wall St. to the Washington bureaucrats
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Well Wall Street seems dysfunctional and totally unable to run business. May as well put the control where the people might have a say in the matter. Doesn't it seem curious that this all happened at once? Who the fuck was watching the watchdogs and why didn't the executives of these companies ring warning bells when the whole thing started to unravel. And don't tell me this happened without warning. There was more fucking warning for Hurricane Katrina.
You cannot trust the free market system to function unregulated. After all, the
"free market" is a bunch of gambling addicted morons. Why would you trust your future to an addict?
If you read back on Oprano, when I was going round with Mike AI over Iraq, I said then that the war could not be won and it would be costly. Its like your personal finances, if you overspend in one area, you will crash financially. The US could never afford the war in Iraq and it is at the root of this mess. You may disagree, but the trillions spent in Iraq would certainly have kept the US prosperous and out of this mess. GW Bush will go down in history as the worst president period. He was a bully. He got the US into an unwinnable and costly war and now he is using the same bullying rhetoric to bail out his crooked pals.
But here is the big winner. Haliburton (Cheney) made huge amounts of money out of the war and this administration and when they saw it all going south, they moved all their operations to Dubai and the Dubai stock market. That never even raised an eyebrow. Sometimes I despair when I see the wreckage of a once great nation and Russia just wringing its hands in delight as Putin gets ready for his next maneuver to blindside a crippled America.
I'm not sure if the 70's felt this bad. Maybe.