> SA^^^^^^^^CB: I think you make a good point here, SA.How about the Marxists' role in this beingto tell the many that their gut feelings are correct: that since there is no moral hazardproblem with bailing out the biggest banks,moral hazard in general is a fraud, and thereis no reason not to bailout the average workingclass debtor ? Forgive all student loans, etc.a true Jubilee is economically doable. This isa unique historical possibility because thefinancial oligarchs have openly engorged themselveswith public cash. Everybody knows it. The Emperoris naked, and everybody is saying it.
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That seems more like a populist view than a Marxist view. Actually I do think moral hazard is a problem for banks, which is why finance needs to be regulated and repressed in exchange for the support it inevitably has to receive from the state in order to avert and survive crises. Again, unfortunately Marx doesn't tell us much about financial regulation.
SA