On the Defense of Parasitic Finance

Max Sawicky sawicky at epinet.org
Tue Jan 16 11:37:45 PST 2001


. . . Following mbs' logic, such a Wall Street-backed anti-Asian moneybags movement would be, precisely, the most "feasible" outcome that would "stand a chance in hell" of success. -Brad Mayer

This is sheer science fiction. There is no anti Asian moneybags movement visible anywhere. And the suggestion that anybody would look favorably upon such a thing, owing to some non-existent implicit 'logic,' reflects a weak argument.

The financial crises showed up Asians to be victims, or subordinate to Wall Street, if anything. Berlet is right insofar as the practice of scapegoating most likely would point to jews in the U.S. & Europe. Maybe to the Chinese in Asia, but the latter wouldn't quite be anti-asian.

I come back to my first and main point. The equation of financial reform with anti- semitism bespeaks political marginalization, not any kind of more profound economic analysis. The critics of financial reform have no political program worthy of the name.

mbs



More information about the lbo-talk mailing list