Even though though Greenspan's opposition to the President's plan is explicable, it's still a bit, ironic, no? The president proposes one of the biggest rip-offs ever conceived, taking money from the workers and giving it directly to capital -- and the Republicans, the supposed party of capital turns it down as *too socialist*. But the real irony is that if this is the kiss of death (and it certainly sounds like it, at least for a few years), the faction that wins is the tiny and impotent left who was against it all along and who no one ever listened to, namely us. And the entire working population of course, who is listened to even less.
History sure is cunning.
Michael
On Wed, 20 Jan 1999, Doug Henwood wrote:
> >Is it just me, or this something new? A Fed chairman coming out against
> >a presidential initiative the day after its proposed? I think that
> >Greenspan has begun to believe his own press.
>
> He's said this before. Republican capital seems not to want any federal
> money in the stock market; Democratic capital likes the idea. (Unions and
> philanthropies already have big stock portfolios.) Greenspan is a
> Republican. On top of that, it could be that the central banker in him gets
> nervous about injecting big public funds into an already frothy market. It
> looks like all the liberals, from the think tanks to the AFL-CIO, are all
> going to line up behind Clinton's softer privatization.
>
> Doug
>
__________________________________________________________________________ Michael Pollak................New York City..............mpollak at panix.com