I’ve read in a number of places that nothing should be done to break up mega banks and to expose the fraud that has become the cornerstone of the American political and economic systems because it is too risky. Which is to say it’s too difficult to put the genie (i.e. “Fraud”) back in the bottle.
Should BP give up on trying to fix the hole in the bottom of the sea that’s spewing black death into the Ocean because it’s extremely difficult and expensive to pull off?
This Financial Crisis is one of the greatest man made disaster ever unleashed. The Collapse of Lehman was the Deep Horizon toppling into the sea and the obstructionism on Capitol Hill is equivalent to just sitting on the shore and sipping mohitos while waiting for the slick to devastate the shore.
It would seem that the oligarchy has no qualms whatsoever about hanging Civilization as we know it over the Abyss of financial ruin by its ankles, I’m starting to think that sky’s the limit on what these people are willing and capable of doing. 9/11 conspiracies aside, there has been nothing at all in the MSM or on blogs that I have seen yet that connects what is going on in Wall Street to what is going on with the Military Industrial Complex. ‘Cause if Wall Street has captured Washington…then Wall Street also calls the shots with the Military.
It astounds me the degree to which “observers” are treating this like just another speed bump in the forward march of capitalism and progress.. This is a runaway train! Cue the AC/DC!
Another amazing thing is that the Truth is out there!! Wall Street, the pharmaceutical industry, the Media (including Hollywood and Big Sports) and the Computer/Internet Collosi are squeezing competition out of every nook and cranny and doing so by every means available, but mostly by sticking to the tried and true weapon of choice…fraud. And if it continues unabatted all that will be left of America are “Corporations” or should we just call them “Entities”, that produce mindless entertainment and pharmaceuticals… If the American Dream is to allow Googapplesoft Procter and Sachs to produce a drugged-up citizenry that sits in rundown post-foreclosed homes and stares at tablets, waving their fingers to bring on the next dose of neural cyber-candy…well you’re on the right track.
So yeah the Genie is out of the bottle all right and it will be exceedingly difficult to put it back. And it might very well take the destruction of the current System of the World to do it. From what I’ve been reading online (Naked Capitalism, Zero Hedge, Baseline Scenario, Big Picture, etc..etc..) and elsewhere, the American system in all its aspects is so rife with fraud and corruption that only a crippling political crisis followed by a massive market meltdown and some form of benevolent Regency could get things back to something resembling the founding fathers’ concept of a right to the enjoyment of life, liberty and the pursuit of happiness…
Wall Street’s Marie Antoinette moment is near at hand. And when it comes it will suck to be them. Or so we hope.