[lbo-talk] Geithner clarifies

Michael Pollak mpollak at panix.com
Tue Mar 24 10:53:54 PDT 2009


On Tue, 24 Mar 2009, Dwayne Monroe wrote:


> I think this also goes too far. The Obama administration is trying to
> accomplish two goals:
>
> 1.) Fix the money circulation system.
>
> 2.) Do it in a way that preserves existing relations.

If by "existing relations" you mean the capitalism, that's pretty much been the goal of every previous nationalization, including Sweden's. As Monthly Review put succintly, bank nationalization isn't socialism. It's state capitalism.

Michael



More information about the lbo-talk mailing list