A better financial rescue plan for the US | 16 comments (16 topical, editorial, 0 hidden)

Re: A better financial rescue plan for the US (4.00 / 2)

In the USA,for someone in the financial services industry or academia and for most politicians, seriously raising the issue of nationalization is career suicide. Right now I suspect that even validating workable alternatives to Paulson's proposed bailout that don't involve nationalization could pose risks.

With the current system of campaign finance not too many in Congress can afford to oppose this bailout. Wealth has closed ranks. When they obviously start turning on one another there may be more opportunity for truth to out.

"It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Sun Sep 28th, 2008 at 09:43:35 AM EST

Re: A better financial rescue plan for the US (none / 0)

Yes certainly, that Congressmen are dependent upon campaign contributions explains why this is happening. The American political system is structurally set up to serve the interests of the wealthy.

As for your other point that in the US raising nationalization is career suicide, the people who post at that blog I quoted from are academics or in the financial services industry. Here is a new post:

Bailout: It's About Capital, Not Liquidity; Seeking Beta: Interview with Robert Arvanitis

Where have I heard that the problem isn't liquidity but solvency before?

A bomb, H bomb, Minuteman / The names get more attractive / The decisions are made by NATO / The press call it British opinion -- The Three Johns

by Alexander on Sun Sep 28th, 2008 at 02:26:00 PM EST
[ Parent ]

Yes, while its likely career suicide for a ... (4.00 / 3)

... Republican Senator from a relatively safe state, its not career suicide for a university academic.

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 Sun Sep 28th, 2008 at 03:58:08 PM EST
[ Parent ]

A better financial rescue plan for the US | 16 comments (16 topical, 0 editorial, 0 hidden)

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