[lbo-talk] uh-oh! too much regulation!!

[Marv Gandall]

I used to think mass pressure was primarily responsible for reform, regulatory and otherwise. I  now believe it also requires the concurrence of a more "enlightened" wing of the bourgeoisie which sees such reform as consistent with evolving systemic needs. If there is not such  convergence, the ruling class will unite to thwart reforms, through repression if necessary. Much change is the product of conflict between competing interests at the top where the masses play very little or no role. If CDO's and other derivatives are regulated, for example, it will have much less to do, IMO, with any public clamour expressed through the media than with the fact that big institutional investors got burned as counterparties of the big banks and their interests predominated in the resulting legislative compromise. 

On 2010-02-03, at 8:14 AM, Dennis Perrin wrote:


> Doug:
> 
>> Sometimes I think that many on the left see the masses as some radical sleeping giant just waiting for an alarm to ring. They aren't, you know.
> 
> No shit. My family's a little more aware than average, but they hide behind their toys and distractions at the first sign of discomfort. Just had a argument with one of my cousins, who is not dumb, but man is she afraid. She thinks I'm crazy and "dark" for wallowing in all this shit. Why not watch the Grammys, ooh and ahh at the pretty people, and read Us Weekly?
> 
> Dennis 
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