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Would you be inclined to present such a critique, since you do not consider "put crooks in prison" a valid left-wing objective?

- Jake

If you only spend 20 minutes of the rest of your life on economics, go spend them here.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Fri Feb 3rd, 2012 at 12:33:27 PM EST
[ Parent ]
Crooks in prison takes revolution, not law enforcement. The standard operation of finance capitalism is fraudulent, but not illegal. Let's just consider the well known to be legal method of a PE owned company issuing bonds to pay dividends to the PE investor. That's "control fraud" in its purest form, but it's apparently legal as are the "good faith" decisions of mutual fund managers to put suckers money into those bond issues.

As for a critique of the Obama administration economics policies, there's a very interesting one in Mettler's "Submerged state" although I think more could be done. Of course, one has to note that the Obama administration was NOT elected on a platform of radical change in economic structure - so it's kind of pointless to build a critique which lambastes them for failure to produce an economy system based on radical decentralization of finance and expansion of a democratic public sector - something I'd prefer.

by rootless2 on Fri Feb 3rd, 2012 at 01:35:28 PM EST
[ Parent ]
"All crooks in prison" is not possible, revolution or no revolution.

"Some crooks in prison" can be done with law enforcement.

- Jake

If you only spend 20 minutes of the rest of your life on economics, go spend them here.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Fri Feb 3rd, 2012 at 01:37:51 PM EST
[ Parent ]
Law enforcement is exactly how you put crooks in prison. And if the law appears to be insufficient wrt the criminalisation of duplicitous activities, then an effort can be made to change it - for the next time.

But, whatever, if Obama and the Dems never made any promises...

by afew (afew(a in a circle)eurotrib_dot_com) on Fri Feb 3rd, 2012 at 03:26:35 PM EST
[ Parent ]
Actually, the law has been strengthened.

http://www.nelsonmullins.com/DocumentDepot/Balliro_DRI.pdf

by rootless2 on Fri Feb 3rd, 2012 at 04:01:46 PM EST
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But what's the use if we need a revolution to put crooks in jail?
by afew (afew(a in a circle)eurotrib_dot_com) on Fri Feb 3rd, 2012 at 04:07:39 PM EST
[ Parent ]

As Jake notes, the law will put some crooks in prison. The fundamentally dishonest and exploitative nature of finance capitalism will not be cured, however.
by rootless2 on Fri Feb 3rd, 2012 at 04:25:28 PM EST
[ Parent ]

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