Probably the main reason why the government has been granting “massive liquidity injections” to the banks is to stroke the hypersensitive egos of the bloodsucking bankers who turned history’s greatest economic boom into a clustermuck. And if anyone doesn’t have a clue what that is, look at the working class job situation. Afraid they might start jumping out of windows, or perhaps to help them afford increased security so folks don’t start pushing them, the government seems to be the greatest collaborator in the biggest rip off scheme in history.
Of course, it bears noting that the president has suffered from “Politically Acquired Ideological Deficiency Syndrome” perhaps from his youth. His community organizing background experience plus his support of the Chicago plant takeover notwithstanding, the first “black” prez displays typical blaxgeoisie spinelessness in giving the reactionary international finance sector whatever it asks.
Whoever thinks the finance sector isn’t reactionary has a number of thinks coming.
The stimulus package seems more of a luxury tax levied on taxpayers and doled out to the wealthy. It contradicts all the hooey of the last thirty years about laissez faire capitalism, supply-and-demand, Friedmanesque “pure economics” and any other phony descriptions used to deceive working folks. The architects and supporters of this theory ought to pay for foisting this disaster upon the entire world economic structure.
So while rich bankers receive a stimulux package, the working class gets punished by a “stimmolation” package made of one part stimulus and ten parts immolation. Can we possibly believe that giving any money to the banks will stop unemployment for anybody except the bankers?
If they hadn’t been stuffing so much money into their pockets in the first place, capitalization for growth would still exist and the massive debt culture would have never arisen. Nobody talks about that. Nobody discusses how the unpunished corruption of the investment bankers that began with the S&L scandals continues unabated right up until now, with totally transparent government collaboration.
Like why did Ken Starr sidetrack his investigation of Clinton’s below-the-belt association with Monica Lewinski instead of zealously pursuing the Whitewater scandal, as he was mandated? Why did the corporate media titillate us with the blow-by-blow job details of that sordid garbage when they should have remained focused on Whitewater? Jimmy Carter was tied up with Arab money in BCCI, and the Bushes laundered dirty drug loot thru the S&Ls. The total S&L crisis oversaw the collapse of 747 institutions, over $160 billion in losses, and the government (FDIC, thru US taxpayer dollars) paid +$124 billion to ripped off savers.
Any working class people talking about saving money by putting it into the finance system needs their heads examined. And anybody wanting to nationalize the banks ought to be shoved out of a ten story window along with the nation’s bankers. But we haven’t reached that stage in history yet.