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Judicious use of a small part of their loot gain in the political arena should go a long way to creating a blocking minority in government...

At this point >90% of the capitalization of Goldman, Morgan, BOA, Citi, WF, etc. is based on their regulatory and policy capture of the US Government and they have calibrated the application of loot to governmental institutions and representatives quite effectively. Even a significant percentage increased application of that loot would be no problem.  However, there are those rare moments when the screens and curtains are blown away and the pirates are revealed in all of their sordid reality.  We were on the verge of such a moment last fall, but Obama stepped into the breach and distracted most of the public with "change we can believe in."

When the next big downward leg comes he may not be able to reprise his performance.  It will have grown stale and obvious and too many may be on to him.  But this does not have to end in repudiation of the Ponzi losses and prosecution of the guilty.  We could go the way of Weimar.  In fact that is the more likely outcome.  The sort of deals Hitler had to make with the German industrialists are already in place in the contemporary USA.

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

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Mon Aug 17th, 2009 at 12:42:37 PM EST
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