[lbo-talk] House rejects bailout

Gar Lipow the.typo.boy at gmail.com
Mon Sep 29 16:05:26 PDT 2008


On Mon, Sep 29, 2008 at 12:16 PM, Doug Henwood <dhenwood at panix.com> wrote:
>
> I hadn't realized that that was a cliche - I can't imagine that one in ten
> thousand would recognize it. That aside, they did it out of ideological
> consistency - government bad, markets good. The left, which presumably
> doesn't share that worldview, is operating out of what? Some emotional and
> braindead anti-elitism.
>
> Doug

How about James Galbraith? Is he operating out of brain dead anti-elitism, when he calls for expansion of the FDIC and creation of an infrastructure bank - along with a long term investment in infrastructure both green and conventional? Or Dean Baker? Yeah of course the Republicans killed in hopes of getting something far worse. But why not push back and at least get something better in front of the public? Since the Republicans killed what was essentially a compromise with them shouldn't the Democrats say "fuck bipartisanship, we are in the majority" and come up with something that screws the people less. Even if the is damn unlikely they will nationalize the banks (which I think would be a pretty responsible solution) , they could at least follow neoliberal Mark Kleiman's advice and pay for the bailout with a .25% tax on financial transactions - let Wall Street pay for Wall Street.



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