Display:
... the system ... at least in the US?

Here in the US we are into the first year of what would in any event require at least six in terms of building a coalition to attack the problem.

As long as the boring business Republicans and "Liberal" Hedge Fund Democrats agree on the basic consensus, that is a blocking group until the Hedge Fund Democrats are taken out.


I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.

by BruceMcF (agila61 at netscape dot net) on Sat May 16th, 2009 at 06:49:52 PM EST
[ Parent ]
Maybe it's my naievty and lack of understanding of the US system, but wouldn't Obama get all the popular support he would ever dream of if he said something like this in his state of the union speech:

  1. We're in deep shit.

  2. The banks need to operate if we're to get out of it.

  3. Money need to go into the banks, but you'll be compensated for that, dear taxpayers.

  4. Because of that we will temporarily nationalise all unhealthy banks. They will be privatized when they're healthy again and we've made our money back.

  5. We will create regulation to make sure we don't get into this shit ever again.

  6. And yeah, you've been massiveley screwed by carrion who put us all in this shit, and they're still gorging themselves on your money, and on your childrens future.

  7. [insert]Examples of how the guys at the banks or AIG enriched themselves monstrously while blowing a $13 trillion hole in the very fabric of the universe.[/insert]


Peak oil is not an energy crisis. It is a liquid fuel crisis.
by Starvid (arvid.hallen at gmail.com) on Sat May 16th, 2009 at 07:04:06 PM EST
[ Parent ]
However its not the broader public that the blocking minority in the Senate is afraid of.

Within two weeks, with Fox Noise leading and the rest of the corporate media acting as a mindless amplifier, the message would be reframed and re-interpreted until for a majority of the population in states with 30% of the population, sufficient to maintain 41 votes in defense of a Senate filibuster, its proof that Obama is a class warfare socialist.

And rather than going toe to toe with the Senate and duking it out, the current sham-progressive caucus in the House will hide behind that filibuster to agree to "compromises" that gut any policy response.

What is required to crack the opposition from the Senate is a reformist House with its back up, snarling and snapping with bared teeth at the Millionaire's club.

And retrofitting a backbone and teeth into the current faux-progressive caucus requires some faux-progressives getting shown the door in primaries in safe Democratic districts.


I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.

by BruceMcF (agila61 at netscape dot net) on Sat May 16th, 2009 at 07:54:44 PM EST
[ Parent ]
And retrofitting a backbone and teeth into the current faux-progressive caucus requires some faux-progressives getting shown the door in primaries in safe Democratic districts.

By the time of the mid-terms this could be a real possibility.  They would need funding.  On-line groups could help.  It would also be important to run some strong opponents in senatorial primaries.  If a 60 seat majority does you no good, what good is it and why not risk it for something better.  A couple or three wins for progressive Democratic new senators could be just the shot across the bow that the conserv-dems need to get their attention.  The polls and the mood of the country could be telling them something also by then.

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Sat May 16th, 2009 at 09:10:15 PM EST
[ Parent ]
Only trouble is, I doubt you have six years now.  Besides, Obama could have put the banks into receivership without waiting for Congress.
by tjbuff (timhess@adelphia.net) on Mon May 18th, 2009 at 09:19:43 AM EST
[ Parent ]
tjbuff:
Obama could have put the banks into receivership without waiting for Congress
The FDIC is on a steady diet of up to 4 failed banks per week...

The brainless should not be in banking. — Willem Buitler
by Migeru (migeru at eurotrib dot com) on Mon May 18th, 2009 at 09:22:25 AM EST
[ Parent ]
Let's not forget OTS. Newspapers haven't. Like butter: Squeezed between the trustee's sales (e.g. what's left of print classified sales, 15pp solid, WaPo, 13 May) you may spot public notice of seizure addressed to creditors.

Diversity is the key to economic and political evolution.
by Cat on Tue May 19th, 2009 at 12:41:35 AM EST
[ Parent ]
That is a problem, but you do what you can do.

What Obama could have done without waiting for the House is neither here nor there ... he is, after all, another Hedge Fund Democrat, and he won't go beyond the conventional wisdom without being pushed.


I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.

by BruceMcF (agila61 at netscape dot net) on Mon May 18th, 2009 at 10:10:46 AM EST
[ Parent ]
Starvid:
Because of that we will temporarily nationalise all unhealthy banks. They will be privatized when they're healthy again and we've made our money back.
Bad framing.

"The Federal Deposit Insurance Corporation will take over the banks to make sure that deposits and payment systems continue to function" would be the proper framing.

The brainless should not be in banking. — Willem Buitler

by Migeru (migeru at eurotrib dot com) on Mon May 18th, 2009 at 05:42:38 AM EST
[ Parent ]
Always think of the children!

--
$E(X_t|F_s) = X_s,\quad t > s$
by martingale on Mon May 18th, 2009 at 06:20:31 AM EST
[ Parent ]
Widders and orphans need the banking payments system to continue to function, and the government is acting to guarantee that it will continue to function.


I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.
by BruceMcF (agila61 at netscape dot net) on Mon May 18th, 2009 at 10:12:07 AM EST
[ Parent ]
He!

When I become a politician I'll hire you as my spin doctor (and I'll get some IT consultants to remove every single thing I've ever written online about Rhodesia)...

Peak oil is not an energy crisis. It is a liquid fuel crisis.

by Starvid (arvid.hallen at gmail.com) on Mon May 18th, 2009 at 09:06:51 AM EST
[ Parent ]
Migeru:
will take over the banks at risk of insolvency
A necessary correction to achieve the correct framing even if sometimes the meaning is the same.

The brainless should not be in banking. — Willem Buitler
by Migeru (migeru at eurotrib dot com) on Mon May 18th, 2009 at 12:03:39 PM EST
[ Parent ]
Banks facing insolvency would be better.  Else they will accuse you of looking to go after marginal banks, you socialist.

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Mon May 18th, 2009 at 02:01:09 PM EST
[ Parent ]

Display:
Login
. Make a new account
. Reset password
Occasional Series