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This is like enclosure, the clearings or any other historical land grab.
The process of enclosure has sometimes been accompanied by force, resistance, and bloodshed, and remains among the most controversial areas of agricultural and economic history in England. Marxist and neo-Marxist historians argue that rich landowners used their control of state processes to appropriate public land for their private benefit. This created a landless working class that provided the labour required in the new industries developing in the north of England. For example: "In agriculture the years between 1760 and 1820 are the years of wholesale enclosure in which, in village after village, common rights are lost". "Enclosure (when all the sophistications are allowed for) was a plain enough case of class robbery"
The difference this time is that the left-overs will become vagrant and useless. There's nothing for them to do, except steal and deal.
And given that politically the choice is between Obama, whose take-down of the bankers lacks a certain enthusiasm, and some right-wing wacko with mental health issues - pick any one from the badgers-with-rabies bag of bonkers candidates - a new vagrant class dying in ditches is the most likely outcome.
State AGs can only push it up to the Supremes. And we know whose side they're on.
Unfortunately for the bankers, what's more likely to happen is that they'll start suing each other at some point. That's when it's going to get interesting.
But I don't have much optimism in bottom-up legal challenges, because that whole due process thing has been a joke in the US since Gitmo, at least. This development is just the director's cut for domestic release.
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