[lbo-talk] Capital strike redivivus

[C. G. Estabrook]

Martin Wolf started off his Financial Times column for February 11 with the bold 
question: “Has Barack Obama’s presidency already failed?” The stock market had a 
similar opinion, plunging 382 points. Having promised “change,” Mr. Obama is 
giving us more Clinton-Bush via Robert Rubin’s protégé, Tim Geithner. Tuesday’s 
$2.5 trillion Financial Stabilization Plan to re-inflate the Bubble Economy is 
basically an extension of the Bush-Paulson giveaway -- yet more Rubinomics for 
financial insiders in the emerging Wall Street trusts. The financial system is 
to be concentrated into a cartel of just a few giant conglomerates to act as the 
economy’s central planners and resource allocators. This makes banks the big 
winners in the game of “chicken” they’ve been playing with Washington, a 
shakedown holding the economy hostage. “Give us what we want or we’ll plunge the 
economy into financial crisis.” Washington has given them $9 trillion so far, 
with promises now of another $2 trillion -- and still counting...

Full article at <http://www.counterpunch.org/hudson02122009.html>.